We are here to ensure you understand all of the issues that can surround tax and guide you through the process.
Our job is not to collect taxes but to ensure your tax burden is as efficient as it should be.
We will get to know you, your objectives, plans and opportunities, and develop a strategy that works for you. Individuals, corporations, LLPs, partnerships will benefit from our wide range of expertise.
Income Tax Returns
Businesses should not make decisions solely based on tax considerations. However, tax will have a significant impact on how successful their decisions are. We work closely with companies and management teams to tackle tax issues early on. Our tax specialists work closely with our transactional teams from the outset of a transaction to make sure that tax issues are appropriately dealt with.
Our objectives are always to minimise the tax risk and use careful tax planning and documentation to maximise value available to our clients in a compliant and fair way.
Real Property Gains Tax
Our team has years of experience in effective tax planning strategies to protect business and personal assets from the impact of Real Property Gains Tax.
Through a mixture of knowing what deductions can be made in computing the taxable gain, we can make a substantial impact on the actual RPGT payable, whether the disposal has been made or is being considered, in order to achieve the most favourable valuations.
Tax Audit & Investigations
If you are chosen for a tax investigation the financial and personal costs of a protracted case can be significant and we understand what a stressful and worrying time a tax investigation can be for you.
Our tax advisors is comprised of knowledgeable tax professionals with considerable experience gained within the industry, they will work to resolve your tax investigation, tax enquiry or tax dispute with IRB.
You can rest assured that we will do everthing we can to defend your position, shelter you from the pressure and to get you the minimum possible tax penalty and settlement.
Corporation tax represents a substantial proportion of a company’s costs. Further to this the increased complexity with constantly changing assurance, regulatory, tax compliance requirements and harsher penalties for non-compliances means a large amount of your time will be taken up meeting these needs and not allowing for the appropriate consideration to ways in which you can minimise your corporate tax exposure which can have the potential to significantly improve your bottom line.
Our business tax team are experienced in advising organisations on tax planning opportunities and can help you look ahead to create a strategy that helps minimise the amount of tax you pay.
Tax Credit & Incentives
Among the tax incentives that may be claimed include exemptions on income, double deduction of expenses, preferential tax treatments for promoted sectors, extra allowances on capital expenditure incurred, investment tax allowances, reinvestment capital allowances, and accelerated capital allowances.
By using these tax incentives, companies which are eligible for them are often able to pay tax at a rate below the standard corporate tax rate of 24%.
Your business accounting and tax preparation needs can become an increasing concern as your business evolves and as tax laws continue to change. We understand these concerns and provides tax preparation expertise to maximize tax credits and incentives.
Withholding tax is an amount withheld by the party making payment on income earned by a non-resident individuals or companies and the withheld amount is then remitted to Inland Revenue Board of Malaysia.
The tax rate is based on classes of income and is stated either in in Income Tax Act 1967 or in the Double Taxation Agreement (DTA).
Malaysia adopts a territorial principle of taxation, meaning only incomes which have a source in Malaysia are taxable there, regardless of where the expatriate is paid.
It’s important to know that all tax residents and non-residents of Malaysia (this includes every person in the country regardless of nationality) will be taxed on all income earned within Malaysia if they are liable. Foreign income earned is not taxable.
Sales & Service Tax
The sales tax is based on the manufacturing cost or import cost, while the service tax could cover a wider range of services, therefore a higher price or charges for services rendered on the whole.
The services provider is liable to be registered under the Service Tax Act 2018 when the value of taxable services provided for a period of 12 months that exceeds a threshold of RM500,000. The SST registration threshold is RM1,500,000 for Operator of restaurant, bar, snack-bar, canteen, coffee house or any place which provides food and drinks.
Malaysia’s transfer pricing legislation adopts the arm’s length principle espoused in the OECD Transfer Pricing Guidelines.
Under Section 140A of the Income Tax Act 1967, the DGIR is empowered to make adjustments on controlled transactions of goods, services or financial assistance based on the arm’s length principle or to disregard and make adjustments to a structure (w.e.f 1 January 2021).
We anticipate and solve the transfer pricing challenges that abound when transactions across multiple tax jurisdictions and develop best practices for your transfer pricing needs.