A company dormant since 2019 with no Form C ever filed can still receive a CP270 penalty notice for more than RM10,000. LHDN does not automatically know your company is dormant — silence is treated as non-compliance. Here is what you must do, and in...
HASiL has flagged over 500,000 potential cases where financial activity does not match tax records. Here are 5 patterns in your e-Invoice data that can trigger an LHDN review — and what KS Chia recommends checking now....
Malaysia's new 2% dividend tax applies to dividend income above RM100,000 for YA 2025. Here is how the Form B computation works, who is affected, and what exemptions apply....
From 01/11/2025, companies needing more time to file their tax return can apply online through e-Lanjutan Masa on MyTax, under Garis Panduan Operasi Bil. 4 Tahun 2025. Many business owners assume an SSM extension is the only way to qualify — it isn't, and that...
From YA 2025, companies and LLPs must submit supporting tax documents through MITRS within 30 days of their Form C filing deadline — under Section 82B of the Income Tax Act 1967. Two details commonly get mixed up: the penalty provision, and the file size...
Understanding Income Tax in Malaysia: A Straightforward Guide Navigating taxes can feel complex, but understanding your income tax obligations in Malaysia is essential for both businesses and individuals. It's not just about complying with the law; it's also about smart financial planning. This guide will help...
The Importance of Company Audits: More Than Just a Legal Requirement Let’s be real, running a business in Malaysia means juggling a lot, from keeping your customers happy to ensuring the books are in order. Audits are a critical part of this process, and they're not...
Introduction The world of finance and business can be complex, and audits play a critical role in keeping things transparent and accountable. In Malaysia, all sorts of organisations—from businesses to non-profits and government agencies—need audits to ensure their financial statements are accurate. This isn’t just about...
In today’s fast-paced business environment, precise accounting is fundamental to your business's success. Accurate financial records enable informed decision-making, ensure regulatory compliance, and sustain stakeholder confidence. However, handling these responsibilities internally can be challenging, particularly for growing businesses. The Challenge of In-house Accounting Before we explore the...
Starting a new business in Malaysia, registered as a private limited company (Sdn. Bhd.), there is a crucial milestone on your horizon: your first company audit. It can be a smooth and valuable experience for your business with the right preparation. The Role of a Qualified...