Malaysia’s e-Invoice system will be implemented nationwide starting 1 July 2025. To ensure smooth compliance, businesses should start gathering customer information early, as required by LHDN’s e-Invoice Guideline Version 4.1 (published on 28 January 2025). To help businesses prepare, we are sharing a free, editable sample of a client information request form, which you can amend and …
Employers in Malaysia must provide an EA Form (Borang EA) to their employees each year. This form summarizes an employee’s total earnings, deductions, and tax contributions for income tax filing. What is an EA Form? The EA Form is an official statement of employee remuneration that employers in Malaysia must issue to staff before 28 …
Companies operating in Malaysia are required to pay income tax on their profits. The income tax rate for companies is determined by their tax residency status, with resident companies subject to a progressive tax rate system and non-resident companies subject to a flat rate. Resident companies in Malaysia are subject to a progressive tax …
Income tax rates are at the core of every taxpayer’s financial landscape. As we step into 2023, it’s essential to know the latest income tax rate updates. In this post, we will provide you with a clear and concise breakdown of the 2023 income tax rates, ensuring you’re up-to-date and well-informed about the rates that …
About e-Invoice An e-Invoice functions as a digitized record of a commercial transaction involving a supplier and a buyer, effectively replacing the conventional use of paper-based or electronic invoice and accounting documents such as traditional invoices, credit memos, and debit memos. Within this digital representation, it encapsulates all the fundamental particulars typically found in traditional …
Navigating Income Tax with e-Invoice in Malaysia: 4 Benefits you need to know Read More »
Under the Companies Act 2016, a general prohibition exists where companies are typically restricted from extending loans to their directors or related companies, as well as providing guarantees or security for loans taken by directors from external parties, including the concept of loan to director (subsection 224(1)). Nevertheless, it’s vital to note that exceptions to …
In the vibrant business landscape of Malaysia, company director play a pivotal role in steering the ship of corporate success. Picture this: A boardroom discussion, where decisions are made, strategies are formulated, and visions are turned into reality. A pivotal moment: Director A: “Our company’s performance is impressive, but are we aligned with Malaysia’s …