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Company Incorporation
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WHAT NEXT AFTER YOU HAVE YOUR…..
OWN WEBSITESTARTING TO POST YOUR
PRODUCT OR SERVICES ON FACEBOOK/LINKEDIN
YOU EVEN CLOSE YOUR FIRST SALE
WHAT IF YOUR CUSTOMER REQUEST
A INVOICE FROM YOU?
WHO SHOULD YOU ADDRESS THE
INVOICE FROM?
UNDER YOUR PERSONAL NAME ?
WHAT IF YOUR CUSTOMER REQUEST A GST TAX INVOICE FROM YOU SO THAT HE CAN CLAIM BACK “GST INPUT TAX”?
I THINK I NEED TO
REGISTER A COMPANY….
Business Registration Act (BRA)
-Compulsory to register Co under (BRA)when running a business
Income tax PURPOSE
- To avoid penalty
- Penalty RM200 to RM2000/6 months imprisonment
For bank financing
e.g: car loan, housing loan etc
GST purpose/MS
C Status
OTHER REASON TO REGISTER COMPANY?
WHAT KIND OF COMPANY TO REGISTER??
•SOLE PROPRIETOR
•PARTNERSHIP
1
•SDN BHD
2
•LIMITED LIABILITIES PARTNERSHIP
•OTHER
3
(1) SENDIRIAN BERHAD
MOST POPULAR
LIMITED LIABILITY
TAX RATE 20% FOR FIRST RM500K CHARGEABLE INCOME
2)SOLE PROPRIETOR/ PARTNERSHIP
UNLIMTED LIABILITIES
LESSER SETTING UP COST
TAX RATE 19% FOR 1ST CHAGEABLE INCOME RM
70K
(1)
•REGITERED A COMPANY
(2)
•“ONLINE” YOUR BUSINESS TRANSACTION
(3)
•APPLY MSC STATUS FOR 5/10 YEARS TAX EXEMPTION
BENEFIT OF MSC STATUS
5 YEARS 100%TAX EXEMPTION OR ITA
ELIGIBLE R & D Grant
Borrow fund
globally
• JOBSTREETS.COM
EXAMPLE OF MSC CO
• Excard.com.myExample of
normal printing co
obtain 5/10 years tax free
AFTER REGISTERED CO•ONE IMPORTANT ISSUE TO LOOK INTO…..
GST
GST REGISTRATION
LIABILITY TO REGISTER
Registration is mandatory for businesses whose taxable turnover has exceeded the prescribed threshold of RM500,000.
DETERMINATION OF TAXABLE TURNOVER
Total value of taxable supplies of any month and the previous 11 months (Historical turnover)
OR Total value of taxable supplies of
any month and the next 11 months (Future turnover)
WHY GST???
Turnover>RM500k need to register-penalty
Claim back 6%GST that you paid included on the purchases/expenses
Stay competitive
TL TAX SERVICES SDN.BHD.
MERIT CORPORATE SERVICE SDN. BHD.
Company Incorporation
Company Secretary
Accounts
GSTRegistration & monthly
submission of EPF,SOCSO,
PCB
Taxation
Company Strike off
OUR SERVICE
S
*