Annual Reporting for a Private Limited Company (Sdn. Bhd.) in Malaysia

2 min read|Last Updated: May 6, 2024|

After incorporating a company in Malaysia, all business owners need to understand the legal requirements and compliance. For Malaysian Sdn Bhd, routine compliance includes several matters to maintain its private limited company status.

Corporate Company Annual Reporting Services

All companies in Malaysia need to prepare statutory financial statements. All Malaysian companies must adhere to the financial reporting framework, which outlines essential criteria for compliance.

Submission of Tax Estimates

In Malaysia, companies, no matter which business entity must determine and submit an estimate of their tax payable for a year of assessment a month before the start of the basis period.

Newly incorporated companies in Malaysia are required to submit their estimate corporate tax payable within 3 months from the date of commencement of operations.

Since 2014, SMEs don’t submit estimated tax, but should still file Form CP204 to update tax authorities and avoid penalties.

Preparation of Audited Financial Statements in Malaysia

Every company must share a copy of the audited financial statements with its shareholders no later than 18 months from the date of incorporation. Subsequently, these statements are to be distributed every calendar year not more than 6 months from its financial year-end.

These documents are required to be independently certified by government-approved auditors and lodged to SSM within 30 days after it was released to the shareholders.

Malaysia Corporate Secretary Liyana

Submission of Annual Return in Malaysia

A company must lodge a copy of its Annual Return with the Registrar within one (1) month from its anniversary date of incorporation.

The Annual Return consists of general information such as the office address, principal business activity, company directors, shareholders, and appointed company secretary among the list of required information.

Malaysia Corporate Secretary Liyana

Submission of Tax Return in Malaysia

A company must submit its tax return, Form e-C, within 7 months from its financial year-end.

Information required includes the amount of Chargeable Income and Tax Payable by the company prepared based on audited accounts.

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FAQs

Are there any group relief provision for companies in Malaysia?2024-05-06T13:34:28+08:00

Yes, eligible companies that meet the requirements may surrender up to 70% of its adjusted loss for a year of assessment to one or more related companies for the first 3 years of assessments after completing its 12 month period of commencement of operations.

Is Malaysia welcoming to foreigners/expatriates?2024-05-06T13:33:55+08:00

As seen with the high amount of international schools and job opportunities in Malaysia for foreigners, there is a relatively big expat community in the capital city of Malaysia, Kuala Lumpur and Penang. These expats feel that Malaysia is one of the easiest countries to move to and have one of the most welcoming and friendly society.

Is Malaysia a good place to set up a company?2024-05-06T13:34:42+08:00

Malaysia ranks as 12 out of 190 countries when it comes to the ease of doing business. One contributing factor is the fact that foreigners may be able to establish a 100% foreign-owned business as well as the low cost of living in Malaysia

What is the penalty for late filing or non-compliance ?2024-05-06T13:34:20+08:00

Individuals guilty of late or non-compliance with the submission of annual return will be subjected to a fine of RM 2,000 while non-submission may be fined RM30,000 and up to 5 years of imprisonment.

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