Frequently Asked Questions
When must a company file its annual tax return?
A company must file its annual tax return within 7 months from the end of its financial year end.
Do I need a qualified tax agent to hand my company’s tax matters?
To ensure all requirements are met, you are strongly encouraged to appoint a tax agent to handle your company’s tax matters so that you have peace of mind that your company remains compliant and free of penalties.
What is the current corporate income tax rate in Malaysia?
1) Companies with a paid-up capital of not more than RM2.5 million
– First RM600,000 profit : 17%
– Subsequent balance: 24%
2) Companies with paid-up capital more than RM2.5 million: 24%
(tax rates are subject to changes in accordance with announcements from the Inland Revenue Board of Malaysia)
What is Sales & Service Tax (SST) and the rate?
The sales tax is a single-stage tax imposed on taxable goods manufactured locally and sold by a registered manufacturer, and on taxable goods imported into Malaysia.
The service tax is a consumption tax levied and charged on any taxable services provided in Malaysia by a registered service provider in carrying out their business.
The SST rate is currently 6%.
When must I register for SST?
You are liable to register for SST when your total sales value of taxable goods or taxable services in the past 12 months exceeds the registration threshold of RM500,000.