ACCOUNTING
- Setting up computerised accounting system
- Preparation of monthly, quarterly and yearly management report
- Bank and other account reconciliation and audit schedules
- Cash Flow Management & Forecasting
- Process the payment of employee expense claims and vendor invoices
- Secondment of staff to assist in accounting work to relieve clients when faced with unexpected staff turnover or staff leave problems
PAYROLL
- Computation of net salary, overtime, EPF, SOCSO, EIS, PCB, HRDF and other deductions
- Preparation of monthly payroll report and computerised payslips
- Assist on EPF, SOCSO, EIS, PCB and HRDF payments
- Manage staff leave records
- Preparation of year-end EA Form and Form E
AUDITING & ASSURANCE
- Statutory audit
Our assurance approach does not focus simply on the financial statements of an organization, but also on the organization's business operations. At all times, we are mindful of the auditor's key role as the guardian of shareholders’ interest - Internal audits
Internal audit is a key driver of effective management control, proactive risk management, good corporate governance and ongoing process improvement. Our comprehensive ranges of internal audit solutions include:- Helping organizations develop and implement risk based internal audit methodologies
- Helping firms carry out risk assessment evaluation and testing
- Advising on the establishment of robust internal control system
- Providing specialized additional resource to in-house internal audit departments
- Liaising with external auditors in relation to their annual statutory audit procedures
- Special audits
A special audit review entails a comprehensive and objective examination of the business underlying the numbers. It assists management to identify and focus on key areas and issues and provides insights and comfort to them as well as to outside interests.
PERSONAL TAX SERVICES
Every individual who is liable to tax is required to declare his income to IRBM. The taxpayer is responsible for:
- Obtaining and forwarding Income Tax Return Form (ITRF)
- Resident individual and does not carry on business: 30 April every year
- Resident individual and carry on business: 30 June every year
- Declaring income and claiming expenses
- Computing income tax payable
- Keeping records for audit purposes
- Paying the income tax payable
Self Assessment System (SAS)
Tax administration under SAS is based on the concept Pay, Self Assess and File
Pay: Monthly salary deductions are made for individuals having employment income, or through instalments for individuals having business income.
Self Assess: Taxpayers compute their own taxes.
File: The ITRF is submitted to the IRBM together with the payment for the balance of the income tax payable to meet any shortfall in the monthly payments or a claim for repayment if there is an overpayment.
CORPORATE TAX SERVICES
Every taxpayer who is liable to tax is required to declare his income to IRBM. The taxpayer is responsible for:
- Obtaining and forwarding Income Tax Return Form (ITRF)
- Submitting tax estimation and paying instalment within the stipulated period
- Computing the company income tax
- Declaring income and expenses including deductions and rebates
- Keeping records for audit purposes
WITHHOLDING TAX
Withholding tax is an amount withheld by the party making payment (payer) on income earned by a non-resident (payee) and paid to the Inland Revenue Board of Malaysia.
'Payer' refers to an individual/body other than individual carrying on a business in Malaysia. He is required to withhold tax on payments for services rendered/technical advice/rental or other payments made under any agreement for the use of any moveable property and paid to a -resident payee.
'Payee' refers to a non-resident individual/body other than individual in Malaysia who receives the above payments.
The Income Tax Act, 1967 provides that where a person (referred herein as "payer") is liable to make payment as listed below (other than income of non-resident public entertainers) to a non-resident person ( NR payee), he shall deduct withholding tax at the prescribed rate from such payment and (whether such tax has been deducted or not) pay that tax to the Director General of Inland Revenue within one month after such payment has been paid or credited to the NR payee.
| Payment Type | Income Tax Act 1967 | Withholding Tax Rate |
|---|---|---|
| Contract Payment | Section 107A (1) (a) & 107A (1) (b) |
10%, 3% |
| Interest | Section 109 | 15% |
| Royalties | Section 109 | 10% |
| Special classes of income: Technical fees, payment for services, rent/payment for use of moveable property |
Section 109B | 10% |
| Interest (except exempt interest) paid by approved financial institutions | Section 109C | 5% |
| Income of non-resident public entertainers | Section 109A | 15% |
| Real Estate Investment Trust (REIT) | Section 109D | |
| (i) Other than a resident company | 10% | |
| (ii) Non Resident company. | 25% | |
| (iii) Foreign investment institution (effective from 01/01/2007) | 10% | |
| Family Fund/Takaful Family Fund/Dana Am | Section 109E | |
| (i) Individual and other | 8% | |
| (ii) Non Resident Company | 25% | |
| Income under Section 4(f) ITA 1967 | Section 109F | 10% |
CORPORATE SECRETARIAL SERVICES
COMPANY SECRETARIAL
SERVICES FOR BUSINESS OWNER
IN MALAYSIA
Our firm provides full range of company secretarial services to our clients who need assistance to comply with the requirements of the Malaysia Companies Act, 2016.
All companies established in Malaysia are required to have at least one Company Secretary and that company secretary must be a natural person, resident in Malaysia and is a member of any one of the prescribed professional bodies or licensed by the SSM.
- Company Incorporation
- Preparation of Resolutions, Organising Meetings for Directors
- Preparation of Annual General Meetings for shareholders
- Preparation and filing of statutory returns in compliance with the Companies Act
- Maintenance of Statutory Registration and Record Books
- Provision of a Registered Office Address at minimal fee
- Routine advice on matter pertaining to the Companies Act requirements and company secretarial practice
- De-registration of Company (Striking off) / Liquidation
- Registration of Limited Liability Partnership
FORMATION OF COMPANY IN MALAYSIA
- Personal wealth protection
- Continuous existence
- Transferable ownership
- Lower tax rate
- Higher tax saving
- Foreigners are also allowed to set up a SDN BHD
- A minimum of ONE shareholder
- A minimum of ONE director
The director(s) should have not been convicted or imprisonment or not an undischarged bankrupt. - The local director who have the residence address in Malaysia.
- Age above 18 years old
- NRIC - Identity card for Malaysian and passport copy for foreigners
- Completion of our incorporation forms
| No. | Events | Days |
|---|---|---|
| 1 | Company name search with SSM Malaysia | 1-2 |
| 2 | Registration of company | 1-2 |
| 3 | Released of company docuents | 1-2 |
| Total minimum working days required | 3-6 |
NOMINEE DIRECTOR SERVICE
BUSINESS CONSULTING &
ADVISORY
- Pre-Incorporation Consultancy
- Work permits, employment passes, expatriate passes application
- Applications for various licenses including business license, manufacturing license, Import & Export Approval Permit, LMW license etc
- General business advisory
SALES AND SERVICE TAX
As announced by the Government, Sales and Service Tax (SST) has been implemented on 1st September 2018. Businesses are encouraged to submit their application for early registration.
|
Sales Tax |
Service Tax |
|
Taxable: Manufactured in or Imported into Malaysia * Manufacture: · Changing the size, shape, composition, properties or quality of the material · Installation of tools and components into machines or equipment · Changing the quality of finished goods · In relation to petroleum, any process of separation, purification, conversion, refining and blending |
Taxable Service Including: · Accommodation · Advertising Services · Betting and Gaming · Broking and Underwriting Services · Clubs · Courier Services · Customs Agents Services · Domestic Flight · Electricity · Food & Beverages · Hire Passenger Vehicles Services · Information Technology Services · Motor Vehicle Services or Repair Centre · Paid television Broadcasting Services · Parking Services · Professional Services · Telecommunication Services |
|
Threshold: RM500,000.00 Rate: 5% or 10% |
Threshold: RM500,000.00 *except Restaurant RM1,500,000.00 and Credit Card or Charge Card and Custom Agent no threshold Rate: 6%, A specific rate of tax of RM 25 is imposed upon issuance of principal or supplementary card and every subsequent year or part thereof |
VIRTUAL OFFICE
Just choose any of our 3 well defined plans and gain the edge over your competitors.
| Plan | Classic | Gold | Platinum |
|---|---|---|---|
| Prestigious business address | Yes | Yes | Yes |
| Mail Notification | Yes | Yes | Yes |
| Weekly Mail Forwarding | Self Collection | Yes | Yes |
| Shared telephone line | No | Yes | NA |
| Dedicated telephone line and receptionist | No | No | Yes |
| Free in-coming fax sends via your email | 10 pages/month | 20 pages/month | 50 pages/month |
| Cheque deposit service | 2 cheques/month | 5 cheques/month | 10 cheques/month |
