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Tax Compliance & Advisory Services

Tax regulations and corporate tax filing remains complicated in this ever-changing landscape.

MISHU’s range of tax services by certified professionals keeps businesses up-to-date in all areas of tax legislation, giving owners and directors peace of mind.
Tax Compliance Advisory cover
Corporate tax services

Corporate Tax Services

  • Prepare and file company annual tax return with LHDN
  • Prepare income tax computation
  • Advise on payment of tax balance, if any
  • Advise on submission date of estimated tax payable (Form CP204) and any related compliance requirements
  • Complete and submit Form CP 204 based on the amount of estimated tax payable furnished.
  • Remind directors of revision of tax estimates in the 6th and 9th months
  • Prepare and submit any revision of tax estimate via Form CP204A
  • Remit monthly tax instalments payment at LHDN payment counter (excluding disbursement & logistical charges)
  • Send the tax instalment scheme or CP 204 to the company
Tax planning and advisory services

Tax Planning & Advisory Services

  • Company tax planning such as Restructuring, Group relief, Group credit set-off, etc
  • Application of tax incentives such as Pioneer status, Investment tax allowance, Reinvestment allowance, etc
  • Company allowance such as Industrial building allowance, Export allowance, Double tax deduction, etc
  • Pre-tax audit Real Property Gain Tax (RPGT)
  • Withholding tax planning & advisory services
Associations tax services

Associations, Clubs, Management Corp. Tax Services

  • Prepare and file association annual tax return (Form TF) with LHDN
  • Prepare income tax computation
  • Advise on payment of tax balance, if any
  • Advise on submission date of estimated tax payable (Form CP 500) and any related compliance requirements
  • Remind members of revision of estimates of tax payable
  • Prepare and submit revision of tax estimates via Form CP502, if any
  • Send the tax instalment scheme or CP 500 to the association
personal income tax and other services

Personal Income Tax & Other Services

  • Form B (Personal tax with business income)
  • Form BE (Personal tax with employment income)
  • Form P (Partnership)
  • Form M (Personal tax for non-resident)
  • Form EA
  • Form E
  • Tax Clearance
  • Tax Credit Refund
  • Tax Credit Set-off
  • Retirement scheme

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    Frequently Asked Questions

    What does a tax advisor do?

    Tax consultants help businesses stay fully compliant with current requirements regarding taxation, including preparing and submitting mandatory annual records, compliance with SST, providing strategies for tax restructuring as well as tax due diligence work. Tax consultants also leverage their in-depth understanding of various tax laws to help business owners legally minimise the amount of tax owed while staying compliant with all local regulations.

    How much do tax advisory services cost?

    Consultation fees start from RM1,000 (excluding disbursement & service tax) based on annual turnover / assets. Please refer to our fee proposal for more detailed information.

    Can I do my own corporate tax?

    Yes, business owners are allowed to do their own taxes, but as the details on a company’s tax situation can be pretty complicated, many businesses would usually engage a third-party tax professional to advise and assist on tax filing and compliance.

    What is tax compliance and why is it important?

    It means complying with all legal requirements as stipulated by law, and such compliance is very important to avoid severe legal action and loss of credibility.

    What is the corporate tax rate in Malaysia?

    Malaysia imposes a two-tier corporate income tax system:

     

    a. for resident company, the preferential tax rate on the taxable income is 17% on the first RM600,000 and 24% on any subsequent amount if the local company falls under this category:

    i. it has a paid-up capital of RM2.5 million or less, and a gross income from business of not more than RM50 million;

    ii. it does not control, directly or indirectly, another resident company that has a paid-up capital of more than RM2.5 million; and

    iii. it is not controlled, directly or indirectly, by another resident company that has a paid-up capital of more than RM2.5 million.

     

    b. for resident company that does not fall under the above category, the tax rate is 24% on its taxable income.

    Can I avoid paying corporate income tax in Malaysia?

    We wish! No, any amount owed to the Government must be paid in full. However, a good tax consultant can help businesses legally reduce this amount as much as possible within the parameter of the law.

    What are the most crucial tax services needed in Malaysia?

    Preparation and filing of mandatory annual documents such as tax estimates, tax estimate corrections, annual tax returns and application for tax refunds, where applicable.

    What are tax filing services?

    Our tax filing services include preparation and filing of mandatory annual tax reports, lodging of SST returns, corporate tax, indirect tax, digital tax, tax clearance and withholding tax, partnership tax returns, and more.

    What are tax advisory services?

    We offer a wide range of tax advisory services including tax compliance advice, tax avoidance strategies, tax computation, tax filing, registration and de-registration of Sales and Service Tax (SST), registration of tax reference numbers and employee numbers, applying for tax incentives etc.

    What is the difference between tax avoidance and tax evasion?

    Tax avoidance refers to the legal way to minimise the amount of income tax owed by an individual or a business, such as through claiming for tax deductions, rebates, credits and incentives allowed under the law, maximising retirement contributions or investing in funds or bonds approved by the Government. Tax evasion, on the other hand, is an illegal way to avoid tax payable to the Government, such as through under-reporting income, falsifying deductions, not reporting all applicable business transactions or hiding money in untraceable accounts.

     

    Tax evasion is a serious offence. Individuals or companies who are found liable can be fined, jailed or both.

    What qualifications do your consultants have to offer corporate tax advisory services?

    Our chartered tax consultants are members of Chartered Tax Institute of Malaysia who are legally qualified and well-trained to offer corporate tax advisory services.

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