Personal & Corporate Tax Compliance & Advisory
As Malaysia is under the Self Assessment System (SAS), taxpayers are required to self-assess their respective tax liabilities and ensure timely payment of taxes. From the preparation of tax computation worksheets to the submission of statutory tax returns, we seek to understand the nature of our Clients’ businesses in providing comprehensive compliance services to them.
Every business transaction potentially has some tax implication. Even when business models or nature of transactions have not changed, with ever changing tax legislation, what was tax efficient yesterday may no longer be tax efficient today. Our tax professionals are at hand to assist Clients to set up good corporate tax governance to mitigate tax risks and to achieve tax efficiency.
Our services in the Corporate Tax Advisory include:
- Corporate tax obligation compliance
- Group tax efficiency diagnostic reviews
- Review of transactions for tax optimisation and applicable tax relief(s)
- Tax planning on corporate and group restructuring
- Advisory on capital allowance maximization and expenditure decisions
- Tax due diligence review for mergers & acquisitions
- Non resident recipient withholding tax and/or exemption pursuant to tax treaty.
Our services in the Individual Tax Advisory include:
- Ensuring compliance with local tax regulatory requirements
- Personal tax advisory for global mobile employees
- Personal tax filing
- Claim of tax exemption under tax treaty
- Immigration solutions
Tax Audit & Investigation
Tax audit and investigation are enforcement measures to ensure compliance with tax legislations and can take place even without any suspicion of or actual wrong-doing. Such audit or investigation may potentially lead to prosecution by the Inland Revenue Board. The process to handle a tax audit or investigation can be stressful for the ordinary taxpayers.
Some of the ways we can help you through the process are:
- Performing tax health checks to highlight potentially contentious issues
- Acting as the bridge between you and the IRB during the tax investigation and field audit
- Preparation & submission of proposal to IRB
- Providing guidance and assistance throughout the whole process
- Setting out the options available, assessing the potential tax exposure and implementing a resolution plan for you
- Preparation of Capital Statements
Grants & Incentives
Newly set up businesses or businesses on expansion may look for ways to maximise their investment / reinvestment. Hence, it would indeed be helpful if the business gets to enjoy / maximise the benefits of tax incentives put in place by the government.
Our services in the Grants & Incentives include:
- Application for tax incentives and grants (Pioneer Status/ Investment Tax Allowance Incentive)
- Application for special deductions eg R & D expenditure
- Application for special capital allowances for specific Industry
- Identifying eligible tax incentives and/or government grants and maximising the benefits
Indirect Tax Compliance & Advisory (SST & GST)
Businesses have various indirect tax obligations to comply depending on the nature of business ie manufacturing or provision of service. In manufacturing, correct goods classification is crucial for businesses to manage their exposure to sales tax and prevent unnecessary penalties especially during a Customs audit. Likewise, service providers who fall into the taxable service group needs be registered to collect and pay the rightful amount of service tax.
Our services include:
- Registration for sales tax and/or service tax license
- Review and filing of sales tax and service tax returns
- Advisory services pertaining to sales and service tax implications for business activities and/or specific transactions
- Tax risks assessment
- Application for confirmation of tax position
- Application of Licenced Manufacturing Warehouse (LMW) license
- Assisting Clients in GST audit, GST refunds & appeals
Accounting & Payroll Management
Our services in the Accounting & Payroll Management includes:
Payroll Management
- Payroll processing, liaising with Clients on salary payments and issuing payslips to employees
- Monthly Tax Deductions (MTD) and filing
- Monthly Statutory Contributions calculation and filing
- Preparation of Claim of Deduction and Rebate by Individual [Borang PCB/TP1]
- Preparation of Information Related to Employment with Previous Employer [Borang PCB/TP3]
- Reviewing official receipts to ascertain tax deductibility
Accounting
- Design and implement good governance policies, internal controls and monitoring mechanism
- Advising on accounting policies and procedures
- Review and advisory on treatment of accounting transactions
- Advisory on best practise on record keeping
- Preparation of management accounts and financial reports, including preparing analysis of key ratios and indicators of financial performance
- Maintaining accounting books and records
- Preparation of notes to statutory financial statements and coordinating with auditors on statutory audit
- Secondment of accounting professionals to assist Clients with specific projects
Corporate Secretarial Services
We provide full scope of corporate secretarial services and ensures our Clients complies with Companies Commission of Malaysia (“CCM”) regulations. Our corporate secretarial services include:
- Provision of Company registration services inclusive of incorporation of private limited companies
- Provision of registered office address
- Provision of named Company Secretary in compliance to Section 235 of the Companies Act 2016 (“the Act”)
- Maintain and update the statutory records of the Company as required by the Act on behalf of the Company
- Drafting of Resolutions in accordance with the requirements of the Act
- Preparation and filing of the necessary statutory returns with CCM as required by the Act
- Liaising with CCM in respect of the Company’s secretarial and related affairs
- Liaising with bankers, lawyers, tax agent and other government agencies as and when required
- Attending to auditors in the annual statutory audit on the Company’s statutory records
- Advising on compliance with relevant laws and regulations governing businesses and other entities as and when required
- Provision of dissolution services inclusive of strike off from the Registrar of Companies and members’ voluntary winding up