Can a single member/director also serve as the secretary of the company?
Yes, a single person who acts as both the director and the sole member of the company can also take on the role of the secretary. However, it is essential to note [...]
Under the New Companies Act, can non-Malaysians be one of the directors? If yes, how?
A foreign individual has the option to establish a company as the sole shareholder. However, if they intend to be the sole director of the company as well, they must meet the [...]
Why is residential status still required for directorship under the new Companies Act?
The Companies Act 2016, specifically section 196(4), stipulates that a director must ordinarily reside in Malaysia with a principal place of residence in the country. This requirement is applicable only to the [...]
What are the preparations required for a holding company to establish a subsidiary in Malaysia?
A subsidiary is a separate legal entity from its parent company, responsible for its own debts and liabilities. To register a subsidiary in Malaysia, these are the brief preparations necessary:Register Company Name: [...]
How is SST different from corporate tax?
SST is a transaction-based tax on goods and services, while corporate tax is imposed on a company's income. SST is paid by businesses when they sell goods or provide services, while corporate [...]
When are the tax return deadlines in Malaysia?
The deadline for filing corporate tax returns in Malaysia is usually on or before 7 months after the end of the company's financial year. However, it is important to note that the [...]
Can companies in Malaysia claim tax deductions and incentives?
Yes, companies in Malaysia are eligible to claim various tax deductions and incentives to reduce their taxable income. These include deductions for business expenses, capital allowances, reinvestment allowances, and specific incentives provided [...]
What are the consequences of non-compliance with corporate tax regulations in Malaysia?
Non-compliance with corporate tax regulations in Malaysia can result in penalties, fines, and other legal consequences. It is essential for companies to fulfill their tax obligations, including timely filing of tax returns, [...]
Are there any specific tax reporting requirements for multinational companies operating in Malaysia?
Multinational companies operating in Malaysia may have additional tax reporting obligations, such as transfer pricing documentation and Country-by-Country Reporting (CbCR) requirements. These obligations ensure proper reporting of intercompany transactions and alignment with [...]
Can companies request for tax incentives or negotiate tax arrangements with the tax authorities in Malaysia?
In certain cases, companies may have the opportunity to apply for specific tax incentives or negotiate tax arrangements with the tax authorities. This usually requires a detailed proposal and compliance with the [...]