Malaysia, a yachting paradise surrounded by extraordinary natural beauty, extensive coastline and beautiful islands, has a well-deserved honour amongst sailing enthusiasts. As such, the Malaysian government has fully supported the Shipping Master Plan for the period of 2017 – 2022, which is targeted to improve the maritime industry. Thanks to this opportunity, setting up a… Continue reading Industry Guide on How To Set Up a Yacht Charter Business in Malaysia
Author: Boss Boleh
Things To Know About Personal Tax Clearance for Employers when Employees Leave The Company
Being an employer is never easy when you have to deal with different issues of your business. But did you know? When employees are no longer working for the company, this responsibility also falls on the shoulder of employers according to the Malaysian Income Tax Act 1967. Employers have the obligation to inform the Malaysian… Continue reading Things To Know About Personal Tax Clearance for Employers when Employees Leave The Company
How to Set Up a Data Centre in Malaysia
Malaysia has the potential to become the hub for e-commerce and digital services. It is already home to data centres from big global companies such as Alibaba Cloud, Google and Amazon Web. The data centre industry is anticipated to reach USD800 million by 2025. In Malaysia, data centres are driving the new data economy, on… Continue reading How to Set Up a Data Centre in Malaysia
Resignation & Removal of Director
A director is a person who serves on the board of directors of a corporation. The procedure for resignation of director and removal of Director by the Board or Shareholders differs. The outgoing Director can resign by submitting a resignation letter, however the removal of the Director would require a ordinary resolution. We will take… Continue reading Resignation & Removal of Director
DBKL shuts down 597 business premises run by foreigners
Kuala Lumpur City Hall (DBKL) has ordered the closure of 597 foreign-owned businesses under Section 101 (1) (v) of the Local Government Act 1976. The order, which took effect on July 20, 2020, forbids foreign nationals from seeking licenses for up to twenty different types of businesses. Hypermarket, supermarket, mini mart, sundry shop, 24-hour convenience… Continue reading DBKL shuts down 597 business premises run by foreigners
Know the Statutory Forms of Your Sdn Bhd
Statutory documents of your company are compulsory when you are planning to set up a business bank account or apply for a payment gateway service for your e-commerce website. ‘Code words’ are normally designated for each of the documents required, such as F9, F13, F24, F32A, etc. which the public might find ambiguous about. It… Continue reading Know the Statutory Forms of Your Sdn Bhd
Closing of Business for Sole-Proprietor and Partnership
In the year 2022, the pandemic has been ongoing for nearly three years now. Not only has it reshaped various sectors across the globe, it also continues to profoundly disrupt various aspects of our lives. Regardless, life goes on. In Malaysia, the economy started to recover in the fourth quarter of 2021. While some businesses… Continue reading Closing of Business for Sole-Proprietor and Partnership
Understanding Company Tax Rates
Understanding Company Tax Rates To start up a business in Malaysia, a better understanding of company income tax requirements by the Inland Revenue Board (LHDN) and the Royal Malaysian Customs Department (RMCD) will ease the struggles faced throughout the growth of your business. Malaysia’s company tax is administered by the Income Tax Act 1967, whereby… Continue reading Understanding Company Tax Rates
Starting a travel agency business in Malaysia
The growth of tourism has grabbed the attention of the government as one of the primary business areas driving the Malaysian economy. Malaysia has experienced an influx of approximately 6 million tourists annually in recent years, the majority of them are from China and India. All of these phenomena have undoubtedly had a positive influence… Continue reading Starting a travel agency business in Malaysia
What is Next of Kin?
The Next of Kin Concept The Companies Act 2016 (2016 Act) which reduced the minimum number of directors for private companies to one, created the notion of “next of kin” to handle circumstances where the sole director dies or is unable to fulfill his responsibilities. As per 2016 Act, the secretary shall, as soon as… Continue reading What is Next of Kin?