Tax services Malaysia
BoardRoom has been working with businesses of all sizes across a range of industries for more than 50 years. This makes us one of the most highly regarded tax consultants in Malaysia. Our team provides comprehensive tax advisory and compliance services for businesses in Malaysia and across Asia-Pacific.
01 Tax compliance and filing assistance
BoardRoom’s tax services team is highly experienced in preparing and filing income and personal taxes in Malaysia. When you work with us, you’ll have peace of mind that your company is complying with stringent local and international tax regulations.
Our Malaysia tax services can help with:
02 Malaysia tax consultancy
Our industry-leading tax advisory team will ensure your business obtains all tax breaks and exemptions it is entitled to. After gaining a strong understanding of your organisational structure, we will provide you with expert advice on tax management for business success now and in the future.
We can help with:
03 Additional outsourced tax services
BoardRoom can manage all your business’s tax duties, making your tax filing responsibility as easy as possible. We will take care of all the necessary documentation from beginning to end. Our tax compliance Malaysia team will support you with tax registration procedures and administrative matters to help your business succeed.
We can help with:
- Registration and de-registration of SST
- Registration of tax reference numbers and employee numbers
- Applying for tax incentives (e.g. pioneer status, investment tax allowance, Malaysia Digital Status, MSC status)
Frequently Asked Questions (FAQs)
1. What are the types of tax services in Malaysia?
As a business in Malaysia, you have a wide range of tax services available to you to streamline your processes and ensure complete compliance. At BoardRoom, we offer tax compliance and filing services as well as advisory services, registration and de-registration of Sales and Service Tax (SST), plus much more.
2. What is the corporate tax rate in Malaysia?
In Malaysia, corporate tax rates operate on a two-tiered system. With effect from year of assessment (YA) 2020, local small and medium enterprise (SME) with share capital valued at MYR2.5 million or less and their gross income from a source or sources consisting of a business is not more than RM50 million for the relevant YA, SME are able to enjoy preferential tax rates of 17% on the first MYR 600,000 of income and 24% for anything over that. Whereas for non-SMEs, the company would be taxed at 24% on its taxable income.
3. What does a tax advisor do?
Tax advisors are trained professionals who can offer advice to your company on how to reduce the amount of tax owed whilst staying compliant with all local regulations. Tax advisory services at BoardRoom include advice on SST, strategies for tax restructuring, tax due diligence work, and much more.
4. Why is tax compliance important?
Staying tax compliant is vital for all businesses in Malaysia. Failing to do so can result in harsh penalties for your business or complete cessation. A strategic tax plan can ensure you minimise the amount of tax needed to pay while remaining compliant. This way, you have more capital to work with and can devise a growth plan for your company.
5. What is the difference between tax planning and tax compliance?
Tax compliance is a basic requirement for all businesses in Malaysia. In short, it means your business is paying all the taxes necessary to avoid running into issues with the Inland Revenue Board of Malaysia.
Tax planning is a more strategic process in which your business looks for ways to legally minimise the amount of tax needed to be paid. Tax planning can be done in-house, or by enlisting the help of seasoned professionals like those at BoardRoom.
6. What are tax filing services in Malaysia?
Our tax filing services include everything from preparing and filing SST returns, corporate tax, indirect tax, digital tax, partnership tax returns, and more. Allowing a third-party business to handle your tax filing services frees up time for you to focus on matters that need your direct attention.
7. What are tax advisory services in Malaysia?
Tax advisory services refer to the strategies that can be devised in order to reduce the amount of tax needed to be paid while staying compliant with all regulations in Malaysia. To do this, advisory services may include restructuring plans, due diligence work, and more.
8. How can BoardRoom help in taxation services?
BoardRoom has the experience and tools necessary to help your business successfully navigate the world of tax. Through our tax planning strategies and advisory work, we can help you stay 100% compliant and on the road to success.
Get in touch with us to learn more about our tax services.