Is it better to open a subsidiary or a branch in Malaysia?
While opening a branch is administratively easier, faster and less costly to set up, it may not enjoy some of the benefits presented by a subsidiary company. The choice may depend on [...]
What is the worst thing that can happen to an expatriate when they are flagged for tax non-compliance?
The employee’s salary may be withheld by the former employer. When this happens, the expatriate may miss out on important dates like flight departure date, which in turn may inconvenience the next [...]
What are the tax exemptions for expatriates?
An expatriate may qualify for tax exemptions if his/her employment period is less than 60 days (about 2 months) or if he/she is not a tax resident in Malaysia. As an [...]
Which tax is this that expatriates to clear?
The income tax is the tax to be cleared. The Malaysian government mandates all who work in Malaysia whether local or expatriates to have their income taxed, even so, there are [...]
What should I do in regard to tax clearance if I am the beneficiary to a dead taxpayer who had not reached, retirement or the end of the contract?
As the beneficiary, you should inform the benefactor’s employer of this eventuality. The employer will then inform the Malaysian Inland Revenue Department which is the custodian of the taxpayer’s file. [...]
How should the government motivate SMEs to be creative in the job sector?
To motivate SMEs to be creative in the job sector, the government should promote reskilling among the workforces. Reskilling may be viewed from two angles, to give a new skill or to [...]
What were the SMEs’ expectations for the 2021 budget?
By the end of 2020, the SMEs had certain expectations of what the budget would be. They expected the government to: Allocate development funds for investment in electronic commerce, technology, and digital [...]
What is Malaysia’s definition of an SME?
In Malaysia, anycompanies or Limited Liability Partnerships with a paid-up ordinary share of RM2.5 million and generates a gross income of RM50 million and below in the assessment year are considered SMEs.
Why do I need to pay corporate tax in Malaysia as an SME entrepreneur?
It helps in financing support and growth for Small and Medium-Sized Entrepreneurs.
Are Malaysia and Singapore members of the OECD and do they use the OECD Double Tax Agreement model?
The OrganisationOrganization for Economic Co-operation and Development, OECD is an intergovernmental economic organisation with 37 member countries, founded in 1961 to stimulate economic progress and world trade. OECD has come up with [...]