Every company registered in Malaysia is required to file their corporate tax according to the country’s regulations. Engage our Malaysia corporate tax filing services to get strategic tax planning to maximise overall gains.
Companies are taxed based on a territorial tax system in Malaysia. With this system, taxes are imposed on individuals and businesses on any income earned within the country’s borders. Malaysian companies are assessable on any income accrued in or derived from Malaysia.
MALAYSIA TAX INCENTIVES FOR BUSINESSES
To encourage more investors and businesses to set up in Malaysia, the government has initiated a few tax incentives.
SMEs are companies with paid up share capital of less than RM 2.5 million at the beginning of the Year of Assessment. Such companies are taxed at 17% on the first RM 600,000 taxable income.
Companies with MSC status
Every MSC status company enjoy tax exemptions of up to 5 years – making it one of the most popular tax incentives in Malaysia.
All new companies in Malaysia are exempted from corporate tax before commencing their operations. However, they are required to submit documents such as tax estimations, Form C, and more.
CHECK YOUR TAX PAYABLE
Enter your chargeable income to generate the net tax payable for local SMEs and non-local company or branch.
OUR MALAYSIA CORPORATE TAX SERVICES
We’re specialised in handling corporate taxation in Malaysia, ensuring that your tax compliance meets the standards required for corporate tax submissions and tax filings, while advising you on tax exemptions and incentives.
Keeping you updated with Malaysia’s corporate tax regulations and compliance requirements
Monitoring the statutory deadlines and meet the compliance filing deadlines
Preparation and filing of your estimated chargeable income
Preparation and reviewing tax provision calculations
Oversees the process of reviewing Form B and Form P
CORPORATE TAX FAQs
Based on our experiences with clients, here are the top 5 questions that are frequently asked.
Sales and Service Tax (SST) compromises of two taxes – sales tax and service tax. The sales tax is imposed by a registered seller on all goods unless exempted by the Minister of Finance. The standard rates are 5% or 10% depending on class of goods.
Service tax is levied at 6%.
Are capital gains taxed in Malaysia?Intern42022-07-07T11:45:16+08:00
Most countries have a higher corporate tax rate than that of Malaysia. For example, in China, India, and Pakistan, the corporate tax rate is at 25%, 34.61%, and 31% respectively, as compared to 24% in Malaysia.
How does tax administration in Malaysia work?Intern42022-07-07T11:44:21+08:00
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 submit the ITRF to the IRB. The ITRF is to be accompanied by the payment for the balance of the income tax to be paid so as to meet any shortfall in the monthly payments or a claim for repayment if there is an overpayment.
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