Malaysia uses a tax framework called the Sales and Service Tax (SST). It replaced the Goods and Services Tax (GST) in September 2018. SST is a single-stage consumption tax. It applies only once in the supply chain. For goods, it applies at the manufacturing or import stage. For services, it applies when a customer pays […]
Incorporating a Sdn Bhd in Malaysia is an exciting milestone for any entrepreneur. This business structure provides a “corporate veil” that offers limited liability, perpetual succession, and significantly higher credibility when dealing with banks and government agencies. However, the journey from a business idea to successful SSM registration is filled with potential pitfalls. Many business […]
With E-Invoicing Malaysia becoming mandatory, businesses must act now to stay compliant. Led by LHDN (Inland Revenue Board), this initiative aims to digitalise Malaysia’s invoicing system through the MyInvois platform, ensuring greater transparency and efficiency in tax reporting. If your business issues invoices, whether you’re an SME or a growing enterprise, this guide will help […]
Bookkeeping & Compliance is one of the most essential yet often misunderstood functions in running a business. Many SMEs and startups in Malaysia mistakenly believe it’s just about “recording expenses.” In reality, Bookkeeping & Compliance involves a structured process that ensures tax compliance, accurate cash flow tracking, and data-driven business decisions. So, what exactly is […]
E-invoicing is quickly gaining momentum worldwide, and Malaysia is no exception. As businesses transition to more digital processes, e-invoicing has become a necessity rather than a luxury. In this guide, we will break down everything you need to know about e-invoicing in Malaysia, including who needs to comply, the benefits, timelines, and potential penalties for […]
Managing tax compliance is essential for individuals and businesses in Malaysia to avoid penalties and ensure financial stability. With over 16 years of expertise, Consistant Info is here to guide you through the process. Let’s dive into the essentials of tax compliance Malaysia. Who Needs to Pay Tax in Malaysia? In Malaysia, taxes apply […]
Starting a business in Malaysia is an exciting journey, and one of the most common business structures is a sole proprietorship. A sole proprietorship, with its simplicity and cost-effectiveness, is a reassuring choice for those looking to start a business. This guide will walk you through everything you need to know about setting up a […]
Tax Deduction for Secretarial and Tax Filing Fees Effective from Year of Assessment (YA) 2022 Tax Consideration Treatment of Fees Incurred Before YA 2020: Fees incurred before YA 2020 that have not been paid and for which tax deductions have not been claimed are no longer deductible from YA 2022 onwards. Treatment of Fees Incurred […]
Why You Need a Tax Consultant in Malaysia? Navigating the complex landscape of tax regulations in Malaysia can be daunting for both individuals and businesses. As the country continues to develop its tax system, staying compliant while optimizing tax liabilities has become increasingly challenging. This is where the expertise of a professional tax consultant in […]