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FORM M

April 12, 2024

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FORM M

What is FORM M ?

FORM M is a return of taxable income and taxes payable.

 

Who needs to submit FORM M ?

The non-resident taxpayers who received the income in Malaysia.

 

Due date of submission for FORM M ?

  • 30th APRIL (Does not carry on any business)
  • 30th JUNE (Carries on business)
  • IF USE E-FILLING CAN EXTEND MORE 15 DAYS

 

How to submit FORM M ?

 

Consequence of Non-Compliance for submission of FORM M 

  • Fine RM200 to RM20,000
  • Imprisonment for a term not exceeding 6 months
  • BOTH

 

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私人有限公司

November 29, 2024

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私人有限公司 什么是私人有限公司? 私人有限公司是公司所有者成立公司的常见选择。私人有限公司的特点是在所有者和公司之间创建独立的法律实体。在董事会或股东没有解散公司的情况下,公司可以获得财产,负债,签订合同,以其名义进行或接受法律诉讼,并在无限期内继续存在。 在马来西亚开办私人有限公司的优势: 有限责任。公司所有者的资产可以免受公司债务或损失的影响。 外国所有权。对于大部分公司活动,外国股权可以拥有公司实体100%。 股份可转让。可以直接向现有或新股东发行额外的股份。 有吸引力的税率。低的公司税率适用于私人有限公司。 声誉。在马来西亚,有限公司比其他类型的组织更具可信度。   成立私人有限公司所需条件: 独特的公司名称。公司名称必须是原创的且在其他地方没有听说过。 至少一个股东。必须有一个外国或本地个人或公司实体。  一名马来西亚本地董事。必须至少有一名在马来西亚拥有主要居住地的董事。  一名特许公司秘书。申请人必须是马来西亚公民,并符合要求。 在马来西亚的地址。本地注册的业务地址(公司运营办公室地址)。   成立私人有限公司的步骤: 名称查询。在马来西亚公司委员会(SSM)进行公司名称搜索,以查看建议的公司名称是否可用。 公司注册。在马来西亚注册一家公司,可以获得SSM认可的许可的公司秘书的帮助。 开设公司银行账户。在马来西亚,您可以在任何本地或外国银行开设银行账户。 根据业务性质获得许可证和执照(取决于您的服务和产品的性质,可能适用于您的公司或可能不适用)。 根据国内税务局(LHDN)认可的许可税务代理的要求遵守公司税务填报要求。 履行向政府提交年度申报表的要求,例如向SSM申报年度报表(AR),财务报表(FS)。

BENEFIT IN KIND

November 22, 2024

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BENEFIT IN KIND What is Benefit in Kind? Benefit in Kind (BIK) is any non-cash benefit of monetary value that the employer provide for their employee. These benefits can also be referred to as notional pay, fringe benefits or perks. The benefits have monetary value, so they must be treated as taxable income.   Examples of Benefit in Kind Taxable Company vehicles Private health insurance Non-business travel expenses Non-business entertainment expenses Loans   Non Taxable Staff meals provided at a canteen Certain types of childcare arrangements Payments to a pension Workplace sports facilities Workplace safety equipment Certain types of transportation expenses, such as subsidies for public bus services    

PRIVATE LIMITED COMPANY

November 15, 2024

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PRIVATE LIMITED COMPANY What is Private Limited Company (Sdn. Bhd.) Private Limited Company is the popular choice among company owner for formation of company. Specialty about Private Limited Company is the creation of separate legal entity between owner and the company. In the absence of a dissolution by the Board of Directors or Shareholders of the Company, the Company may acquire property, incur debt, enter into contracts, file or receive legal proceedings on its behalf, and continue in existence in perpetuity. Advantages of starting a Private Limit Company in Malaysia Limited liability. Company owner assets are saved from company debts or loss. Foreign ownership. For the majority of company activity, foreign equity can own a corporate entity at 100%. Transferable shares. Directly can issue additional share to existing or new shareholder. Attractive tax rate. Low corporation tax rates are applied to Private Limited Companies. Reputation. In Malaysia, a limited corporation has greater credibility than other types of organizations.   What is required to form a Private Limited Company A unique company name. The firm name must be original and unheard of elsewhere. At least one shareholder. There must be a foreign or local individual or corporate entity. A resident director. A minimum of one director with a primary residence in Malaysia. A company secretary. The applicant must be a Malaysian citizen who meets the requirements. Address in Malaysia. A local registered business address (Company operation office address).   Steps to starting a Private Limited Company Name search. Performing a name search for a firm at SSM to see if the suggested company name is available. Company registration. Registering a company in Malaysia with assistance of licensed company secretary recognized by SSM. Opening a corporate bank account. In Malaysia, you can open a bank account with any local or foreign bank. Obtaining permits and licenses according to the business nature (Depending on the nature of your services and products, this may or may not apply to your firm). Obey the corporation tax filling requirement with licensed tax agent recognized under Inland Revenue Board (LHDN). Perform annual filling to government such as SSM Annual Return (AR), Financial Statement (FS).