What will happen to a Company without a Business Plan?
The importance of a business plan to a company cannot be overstated. Without a proper business plan, a company will find itself directionless and unsure of what course of action is to [...]
How Easily can one conduct Business Operation in Malaysia?
The World Bank has ranked Malaysia in 15th place with regard to ease of doing business. This also ranks the country sixth among all Asian countries. It even places Malaysia ahead of other more economically prosperous nations such as Finland, Australia, [...]
Why are Private Companies Limited by Shares Relatively common in Malaysia?
The primary advantage of owning a private company limited by shares lies in the fact that it confers its owner with limited liability. Thus, those who are more risk-averse tend to start [...]
What is a WRT License?
A WRT License applies to companies owned by foreign non-residents in Malaysia. It regulates the participation of foreigners in the country’s distributive trade sector. It also promotes fair and balanced development across businesses in [...]
Why does each business type have different Paid-up Capital Requirements?
Each business type which can be started by foreigners living in Malaysia will have different business activities. These different business activities will naturally require differing amounts of money to be spent. Therefore, the paid-up [...]
Do Dormant Business Entities need to submit an ITRF?
Companies, limited liability partnerships, trust bodies, and cooperative societies that are dormant or have not commenced business are nevertheless required to submit the ITRF. This has been true ever since the 2014 year of assessment.
How does Tax Administration in Malaysia work?
Tax administration in Malaysia is based on the concepts of paying, self-assessing, and filing. Monthly salary deductions are made for individuals with an employment income; they may also be made through installments for individuals with a business income. Taxpayers are to compute their own taxes and [...]
How is Income Tax submitted in Malaysia?
Every individual who is to be taxed is required to declare income to IRB. The taxpayer is responsible for obtaining and forwarding the Income Tax Return Form (ITRF). The taxpayer has to submit an ITRF that has been duly completed [...]
Are Business Licenses from Malaysia also valid in other Countries?
Business licenses issued in Malaysia only pertain to businesses which have been set up there. Therefore, such licenses are not valid in countries other than Malaysia.
What is a DP10 Work Permit?
In Malaysia, a DP10 work permit is also known as a Professional Work Permit Visa. It is valid for two years but can have its validity extended by up to 10 years. It is [...]