As an entrepreneur or an existing business owner in Malaysia, it is important and never too late to learn about compliance and basic legal related matters regarding starting and maintaining a company’s operations. Here we put together brief profiles of government agencies in Malaysia that may be regulatory authorities or to provide aid to local …
If a business owner started out the business as an enterprise, i.e. as a sole proprietor or in a partnership, as time goes by, the owner could be reaping the joy of having steadily increasing profits. There comes a time where he or she may recognise the stability of the enterprise and will be sourcing …
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 …
Entrepreneurship has been blooming in Malaysia in the recent years. As of December 2020, there are over 1 million active business establishments in Malaysia. To register a private limited company (Sdn Bhd) in Malaysia, you will be required to submit details on the nature of business as well as business description or activities. The Malaysia …
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 …
Running a business can be challenging at the best of times and, in the wake of the COVID-19 pandemic, travel restrictions, geographical constraints and physical distancing rules have made these challenges even more acute. In addition, the need to remain compliant is still very much a requirement for companies, irrespective of size or structure. Technology …
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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. …
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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 …
Malaysia has been a strategic location for trading for many years. In the 16th century, the Malacca port became a major stopping place for traders from all over the world to replenish supplies. At one point, it was even considered the most important trading port in Southeast Asia. Today, as the world is experiencing globalisation …
Being a business owner can be very demanding, especially when you are just starting out. You are often juggling everything from front-end to back-end. As much as you would like to, it is simply not possible to do it all by yourself and there will come a point when an extra pair of hands can …
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