Malaysia has its very tax welcoming country. The tax year runs in accordance with the calendar year or financial year end. There are different types of taxes in Malaysia, namely personal tax, corporate tax, property tax (RPGT), and others indirect taxes.
Corporate Tax Compliance & Planning
Tax is one of the inevitable parts of a business while tax compliance involves management time, effort, and costs. As such, the cost of improper or inadequate handling of tax issues could be devastating and might restrict the development of a company. Wealthmill Tax Consultant provide fully outsourced tax compliance service, tailored tax compliance services to meet your business needs, independent tax compliance review, specific technical advice which allow you to focus more on the core business.
Malaysia Certificate of Residence
A Certificate of Residence (COR) is an official document issued by Inland Revenue Board of Malaysia (IRBM) to confirmed that the taxpayer is a tax resident in Malaysia. The issuance of COR is to enable the taxpayer to get the benefit of the Double Taxation Agreement (DTA), to avoid being tax twice on the same income by the treaty countries. COR is valid 12 months from the date of endorsement. Re-application of COR should be made upon expired, or when there is a request made from the treaty country.
Withholding Tax Services
Like many other countries, Malaysia imposes withholding taxes on certain payments to non-residents. Withholding tax is the tax portion of an income of a non-resident recipient, withheld by the payer in Malaysia, and it is paid directly to the IRBM within 1 month from the date of such payment remitted to the non-residents. Withholding tax will apply to certain payments such as royalty, interest, contract payments, and ‘special classes of income’ made to non-residents.
E-Stamping
Stamp duty is a tax imposed on documents or written instruments specifies in the First Schedule of Stamp Duty Act 1949. e-Stamping is a web based application and a secured way of paying non-judicial stamp duty to the government. It provides the convenience of stamping documents with hassle free. Documents or instruments executed within Malaysia must be duly stamped within 30 days of its execution. if is executed outside Malaysia, it must be stamped within 30 days after it has been received in Malaysia.
Tax Clerance Letter – (Surat Penyelesaian Cukai – SPC )
Tax Clearance Letter (Surat Penyelesaian Cukai, SPC) is a certificate or letter from IRBM that will show any tax owe by a taxpayer. A expatriates taxpayer needs to apply for a SPC if he or she is leaving Malaysia permanently. The salary withheld by employer will be released upon receiving the SPC from IRBM. In addition, when a taxpayer dies, their next of kin needs to apply SPC for closure of decease’s tax file. A company in the process of winding up or striking off also require to file an application to obtain the SPC before the completion of the process of closure company with CCM in Malaysia.
Tax Audit / Investigation
Tax Audit is a desk or field to be conducted by the Inland Revenue Board Malaysia (IRBM) to ensure accuracy of tax filing. The tax investigation is to investigate taxpayers who are suspected to be involved in fraud, willful defraud or negligence in reporting their income. Tax offences such as non-compliance and tax evasion will be charged under the Income Tax Act 1967. Our professional and knowledge tax consultant will assist you and your company during the process of audit conduct by the IRBM officer or liaise with the officer for their audit outcome.
Call us at 1700-82-6732 or email info@wealthmill.com.my 
to discuss more on how we can assist you manage your business account and to be compliance with Company Act 2016 and Income Tax Act 1967.