In Malaysia, companies are subject to several types of taxes such as corporate income tax, sales & service tax (SST), payroll tax, and withholding tax. It is important to understand the taxes that are applicable to your business to ensure full compliance with the tax law and regulations required by Inland Revenue Board (LHDN). …
Proper cash flow management is vital for long-term financial success. A healthy and sustainable cash flow in and out of your business means you can pay employees, suppliers, rent, taxes, and other operating costs on time. When companies fail for financial reasons, poor cash flow management is usually the primary cause. Managing cash flow can …
Capital is the lifeblood of business. Without capital, you cannot fund your daily operations and grow your business. Finding investors does not have to be difficult. However, given the recent volatility and market correction, entrepreneurs need to recalibrate their expectations for the challenges ahead. While there remains a healthy ecosystem of angel investors, venture capitalists, …
Introduction To Accounting Software Accounting software performs various accounting and bookkeeping tasks to help businesses record and process transactions. This type of software is often used by bookkeepers, accounting professionals, or business owners to streamline and achieve efficiency in their financial transactions. Accounting software may help you track your business cashflow and check your financial …
Navigating your way through tedious bureaucracy is often challenging and can be confusing, especially if you are not familiar with how an organisation is structured. Yes, it’s true, your company secretary can help to relieve you from wading through the many complicated documents and can help to lodge and receive documents from SSM. But is …
Navigating The Maze: Statutory Documents of a Sdn Bhd Read More »
Most people are well aware that finance plays an important role when you are running a business. If you are not one of those people, then consider this your cue!Much as there is nothing wrong with learning new skills to become an astute business owner, not everyone can afford to spend extra time or money …
About SST Introduced in September 2018, SST replaced the former 6% Goods and Services Tax (GST) system. SST comprises two parts: Sales tax and Service tax. Sales tax is a single-stage tax levied on all taxable goods manufactured in and imported into Malaysia; whereas Service tax is a single-stage tax charged on any taxable services …
As a business owner, there are many aspects of an active company to take care of : strategy, financial planning, sales, marketing, operations, networking, as well as employee management. With all this going on, there is a risk of overlooking the annual statutory compliance requirements. Not fulfilling a statutory compliance requirement set by the Registrar …
The Companies Act 2016 requires private companies to appoint an auditor for each financial year of the company to audit its financial statements. The Company Commission of Malaysia (SSM) later in 2017 issued a Practice Directive containing criteria for private companies to not have to appoint an auditor in a financial year, i.e. audit exemption. …
Audit 101: Is my Company Eligible for Audit Exemption? Read More »
Upon initiating a business as an entrepreneur, there are many (possibly unlimited) skills to hone: many aspects of the business such as strategy, financial planning, sales and marketing and operations, networking, as well as employee management. As a private limited company owner (Sdn Bhd) in Malaysia, there are several mandatory statutory compliance as requested by …