A building is an industrial building if it is used for the purposes of a business and: No. Types of industrial building (IB) Relevantparagraph in Schedule 3of the ITA % InitialAllowances Annual Allowances 1. Factory, dock, wharf, jetty, warehouse, buildings for the supply of water, electricity, and telecommunication, buildings in a farm or mine. 63 …
Tag Archives: Malaysia
TP Guidelines
A. TP Guidelines The 2012 TPG superseded the Guidelines previously issued in year 2003, and was intended to provide detailed guidance to taxpayers on how to comply with the requirements of the law under Section140A of Income Tax Act 1967 and the Income Tax (Transfer Pricing) Rules 2012. The 2012 TPG is applicable to: The …
Subsidiary Company – FAQ
1. What kind of a business entity can a foreigner register in Malaysia? Foreign investors are only allowed to set up private limited companies, also called Sendirian Berhad (Sdn Bhd) companies. Only resident Malaysians are allowed to set up sole proprietor or public liability companies. However, a foreigner can register a 100% foreign owned business with a …
Setting Up a Representative Office in Malaysia – FAQ
What is required for starting a representative office in Malaysia? A representative office incorporated with the approval from Malaysian Investment Development Authority (MIDA) when fulfilled the criteria of minimum RM300,000 per annum for operational expenditure. Other than that, the representative office should be financed by funds emanating from sources outside Malaysia. Is there any restriction …
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Closing Process of a Company in Malaysia – FAQ
What are the common methods for closure of a company? There are two ways to close a company which are striking off or winding up. Striking off a company requires you to make an application to Suruhanjaya Syarikat Malaysia (SSM) in which the company need to fulfil some criteria first. Striking off not an easy …
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Incorporation Process of a Company in Malaysia – FAQ
Can a company incorporate with paid up capital of more than RM1,000? Yes. Clients are advised to incorporate the Company with minimum statutory paid up capital – RM1 per share and subsequently increase the paid-up capital to the desired account after bank account opened so that shareholders could provide the payment proof into the corporate …
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Maintenance Process for a Company in Malaysia – FAQ
What happens to existing companies with memorandum & articles of association which were incorporated under Companies Act 1965? Under section 619(3) of the Companies Act 2016, for existing companies already registered under the previous law, their M&A remains valid and enforceable under the Companies Act 2016, unless otherwise resolved by the company. The company may …
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International Withholding Tax Studies
Withholding tax is an amount withheld by the party making payment (payer) on income earned by a non-resident (payee) and paid to the Inland Revenue Board of Malaysia.
Malaysia Company Registration: The Ultimate Guide (Updated)
Malaysia Company Registration: The Ultimate Guide (Updated) Register a Company in Malaysia One of the best steps a business will ever take is registering as a legal entity. Business registration gives the business and its owners of administrators a proper perspective of what business truly is. Doing business without proper registration is just illegal. The …
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Malaysia Company Registration – FAQ
The frequently asked questions about the business registration & incorporation of private, public and foreign companies.
