How long is the validity period of an Employment Pass?
The validity period of an EP depends on various factors, such as the EP category, employment contract, and other conditions set by the authorities. Generally, EPs can be issued for up [...]
Can I switch jobs while holding an Employment Pass?
EP holders can switch jobs in Malaysia, but they need to obtain a new EP with the new employer. The new employer must apply for the EP on your behalf, and [...]
Can I apply for permanent residency in Malaysia with an Employment Pass?
The EP does not automatically grant permanent residency in Malaysia. However, EP holders who have resided and worked in Malaysia for a certain period may be eligible to apply for permanent [...]
Can I apply for an Employment Pass while I am in Malaysia on a tourist visa?
No, you cannot convert a tourist visa into an Employment Pass while in Malaysia. The EP application must be made from outside Malaysia, and you will need to follow the prescribed [...]
Which Malaysian agency should I submit my EP application to?
To ensure a smooth process of hiring expatriate professionals, it is important for your employer to submit the necessary applications to the appropriate government-approved agencies based on your profession. These agencies play [...]
What are the benefits of outsourcing accounting services in Malaysia?
Outsourcing your accounting function allows you to save money by avoiding the costs associated with hiring and maintaining an in-house accounting team. It also enables you to allocate your time and resources [...]
Can an accounting firm assist with tax compliance in Malaysia?
Yes, accounting firms in Malaysia often provide tax compliance services alongside their accounting services. This includes tax filing and computation, payroll tax reporting, advisory services, and ensuring adherence to tax regulations set [...]
What is XBRL, and how does it relate to accounting in Malaysia?
The eXtensible Business Reporting Language (XBRL) serves as a standardized format employed to process financial data. In Malaysia, registered companies utilize the Malaysian Business Reporting System (MBRS), an XBRL-based platform, to [...]
What are the statutory requirements for bookkeeping in Malaysia?
All companies operating in Malaysia are obligated to uphold meticulous records and accounts. This encompasses the diligent preservation of financial documents, including invoices, receipts, income records, purchase and business expense records, [...]
Can a sole proprietorship or partnership in Malaysia avoid annual financial statement audits?
Malaysian law does not require sole proprietorships or partnerships to have their financial statements audited annually. However, it is still important to maintain proper accounting records and comply with tax and reporting [...]