If you’re considering closing your Sdn. Bhd., it’s important to understand the two legal exit options under the Companies Act 2016 â Strike-Off and Voluntary Winding-Up. Hereâs a quick comparison table to help you decide: â Quick Comparison Table Item STRIKE-OFF VOLUNTARY WINDING UP Legal Provision s.550 CA 2016 s.439(1)(b) CA 2016 Resolution Needed â … Continue reading đ§ŸCompany Closure in Malaysia: Strike-Off vs Voluntary Winding-Up â Whatâs the Difference?
Category: Legal
When to Claim Tax Agent & Statutory Filing Fees: Avoid Common Mistakes in YA 2024
As we approach tax season, many business owners and finance teams ask: âCan we deduct tax agent and statutory filing fees in the current year of assessment?â Letâs clear up the confusion. Tax Deduction Rule: âIncurred Basisâ Applies Under Malaysian tax law, expenses are only deductible when they are incurred â not when they relate… Continue reading When to Claim Tax Agent & Statutory Filing Fees: Avoid Common Mistakes in YA 2024
Understanding Tax Treatment for Specialist Doctors in Private Hospitals-IRBM Guidelines
The Inland Revenue Board of Malaysia (IRBM) has issued specific guidance on how income earned by Specialist Doctors in private hospitals should be taxed. According to the IRBM Guidelines dated 16 March 2022, titled âGaris Panduan Layanan Cukai Ke Atas Pendapatan Pengamal Perubatan (Doktor Pakar) Di Hospital Swasta Sama Ada Ditaksir Di Bawah Individu Atau… Continue reading Understanding Tax Treatment for Specialist Doctors in Private Hospitals-IRBM Guidelines
Understanding Tax Penalties in Malaysia: A Comprehensive Guide
In Malaysia, the Inland Revenue Board (LHDN) enforces strict tax compliance to ensure the integrity of the national tax system. Non-compliance with tax obligations can lead to significant penalties, including fines, imprisonment, or both. This guide outlines the various tax offences and corresponding penalties to help taxpayers stay informed and compliant. 1. Failure to Furnish… Continue reading Understanding Tax Penalties in Malaysia: A Comprehensive Guide
Annual Leave in Malaysia: 8 Days or 14 Days? Know Your Rights
Confused about how many days of annual leave youâre entitled to in Malaysia? Whether youâre a new hire or a seasoned employee, this guide breaks down the legal minimum, how leave is calculated, and what many companies are actually offering today (hint: itâs more than 8 days đ).
We also cover prorated leave, carry-forward rules, and whatâs changed under the latest amendments to the Employment Act.
Ready to find out where you stand?
Read the full article and make sure you’re getting what you deserve.
Did you know that breaching trust as a director could land you in jail or even face caning?
Recently, I attended a court session where a company director was charged under Section 409 of the Malaysian Penal Code. He faces a minimum of 2 years in jail, mandatory caning, and fines. This is the harsh reality directors face when breaching the immense trust placed in them. So, What Is Section 409? As a… Continue reading Did you know that breaching trust as a director could land you in jail or even face caning?
Who is Not Eligible to Become a Director of Sdn. Bhd.
Click here to read the Chinese version çčć»æ€ć€é èŻ»ćèŻçæŹ Before opening a company, it is necessary to know and understand the qualifications and disqualifications of company directors. Other than that, it is important that directors of Malaysian companies act according to the responsibilities of their duties in order to avoid breaching the company law and committing… Continue reading Who is Not Eligible to Become a Director of Sdn. Bhd.
Section 17A of the MACC Act 2009 (Amendment 2018)
On 1st June 2020, Section 17A of the MACC Act 2009 was enforced should any person associated with a commercial organization commits any corruption offences, that person will be subjected to legal proceeding under the Section 17A of the said Act. Person Associated with the Commercial Organization A person deemed to be associated with the… Continue reading Section 17A of the MACC Act 2009 (Amendment 2018)