Tax Advice and Planning in Malaysia
Updated on Tuesday 18th July 2017
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Companies established in Malaysia have to comply with the local taxation system; there are several taxes which have to be paid by companies carrying out business activities here; our team of Malaysian legal consultants can offer assistance to foreign investors, who are not accustomed to the rules and regulations of the tax legislation.
Taxation procedure applicable in Malaysia
Companies in Malaysia, regardless of their business field, are required to pay their respective taxes to the Inland Revenue Board. Our team of lawyers can offer a wide range of tax services; at the same time, our agents can provide legal advice on the way in which taxes can be minimized in Malaysia, by using legal methods.
Our lawyers can offer assistance in tax compliance matters; the corporate tax in Malaysia is paid according to with a self-assessment system. When filing for corporate tax, it is necessary to calculate the taxes by including all the tax deductions that are available under the Malaysian legal system; also, it is compulsory to prepare company’s documents, attesting the tax level to which the company is liable to.
It is important to know that Malaysian authorities provide numerous tax incentives and deductions, mainly available for small and medium sized companies.
Our Malaysian consultants can advise foreign investors to what type of incentives their company will qualify to and which are the main advantages on a short or long term.
We invite you to watch the following video for more information on tax planning in Malaysia:
Tax planning in Malaysia
Tax planning in Malaysia refers to the methods applied by the company’s management, alongside with tax experts, who can establish a taxation strategy that can reduce the costs of the business.
As a general rule, a foreign company operating in Malaysia can benefit of the provisions of the double taxation treaties signed by the state and other contracting states, as long as the company is a direct beneficiary of such an agreement.
Foreign businessmen who need more information on the taxation services available in Malaysia may contact our law office for assistance on this matter.