Malaysia Accounting and Tax Considerations

Tetra Consultants provides Malaysia accounting and tax service. It is important for our international clients to stay compliant with Malaysia accounting and tax regulations. Our accounting team will assist with your business’ annual returns, financial statements, tax compliance and bookkeeping.

Malaysia accounting and tax service

Many clients choose to outsource their Malaysia accounting and tax obligations to Tetra Consultants. Tetra Consultants will timely complete your firm’s financial statements, corporate tax returns and manage auditors on your behalf and without the need to travel.

By outsourcing accounting and tax obligations to Tetra Consultants, our international clients can reduce overhead costs while being ensured of timely reporting and filings. Our accounting team will explain to our clients all required deadlines and expectations before the start of the engagement.

Thereafter, our team will prepare the required fillings in advance to ensure we meet all stipulated deadlines. Tetra Consultants will send a weekly or bi-weekly update to our clients, ensuring all parties are aware of upcoming deadlines. Contact us now for a free consultation. Our team of experts will revert within the next 24 hours.

According to Inland Revenue Board of Malaysia,

  • Companies are required to file annual return no later than 30 days from the anniversary of the date of incorporation.
  • Failure to file annual return is an offence and if convicted, the company and its directors will face penalties under section 165 and 169 of the Companies Act.
  • Companies are required to file annual tax return with Inland Revenue Board of Malaysia.
  • It is mandatory for GST-registered companies to file quarterly reports with the Royal Malaysian Customs Department (RMCD).
  • Businesses in Malaysia are subject to a corporate income tax rate of 24%. If structured properly, the profits of your Malaysia business can be legally tax-exempt.
  • It is mandatory to register for GST with the Royal Malaysian Customs Department (RMCD) if the annual turnover of your business is above RM500,000. The standard rate of GST in Malaysia is 6%.
  • Malaysia has an extensive number of double tax treaties available for the avoidance of double taxation. To do so, Tetra Consultants will assist your company to attain the Certificate of Residence (COR).
  • Resident and non-resident organisations doing business and generating taxable income in Malaysia will be taxed on income accrued in or derived from Malaysia.

Contact us now for a free consultation. Our team of experts will revert within the next 24 hours.

Follow us on

Address

22 Sin Ming Lane #06-76 Midview City, Singapore 573969

©2010-2021 Tetra Global Consultants. All rights reserved.