Attitudes to tax are changing. Organizations of all sizes are ever more exposed to new trends in tax regulation, not just locally but globally. By thinking beyond the present and beyond borders to deliver long-lasting value, our member firms’ understanding of tax governance, specialist skills and deep industry knowledge help you to stay competitive and compliant.

 

BUSINESS TAX

PRUBIZ delivers deep knowledge of tax and statutory requirements as well as a breadth of experience applying them in practice worldwide. Practical tax advice combined with our consistent tax compliance framework instils confidence that a consistent approach is followed across jurisdictions. We help simplify tax management and oversight while providing global visibility for making informed strategic decisions ― all with the ease of working with a global provider.

 

INSTALLMENT PAYMENT BY COMPANY

Installment Payment By Company

Persons Responsible:
Directors of the company
Secretary of the company
Manager or the principal officer
Anyone who performs any of the above functions
 

NON-RESIDENTIAL TAX

1. Determine the Resident status under Malaysia Tax Law
Generally, you are considered a non-resident for tax purposes if your stay in Malaysia is less then 182 days in a calender year regardless of citizenship or nationality
 
2. Non-resident Individual is not liable to tax if
  • Employment is exercised in Malaysia for less than 60 days
  • Age 55 years old and above and receiving pension from Malaysian employment
  • Receiving interest from banks
  • Receiving tax exempt dividends
 
3. Non-resident individual is not entitled to claim tax deduction, relief and rebate.  
 
4. Non-resident individual tax rate :
  • Business, trade or profession   
  • Employment                          
  • Dividends                              
  • Rents                                   
  • Other income or profit                                             
  • Public entertainer                                                    
  • Interest                                                                   
  • Royalty                                                                  
  • Payment for technical advice   

 

PERSONAL TAX - EMPLOYMENT INCOME

Employment income subject to tax or monthly tax deduction.
 
  • Salary, wages, bonus, director's fee, commission, allowance, perquisite, graduity, overtime payment, tips, compensation, Employees Share Option Scheme (ESOS), tax borne by employer, etc ..
    (Item paid in cash or convertable to cash.)
  • Benefits-in Kind from employer (car, handphone, driver, maid, etc.)
  • Value of living accomodation provided by employer
  • Employer's contributions for employee made to an unapproved Pension Provident Fund
  • Compensation for loss of employment
 
Deadline for submission of form BE and payment of tax payable (if any): 30 April every year
 
 
TAX MANAGEMENT CONSULTING
 
Managing risk and reputation and securing value through tax function design. 

The global debate over the taxation of international companies is intensifying. Traditional transactions and structures are under threat, reputations are on the line, and demands for tax transparency are rising. As companies face these mounting challenges, PRUBIZ Tax Management Consulting network helps them to build and operate leading tax functions and to manage their tax risk, reputation and compliance in a world that is increasingly regulated.
 

As more stakeholders take an interest in tax, the environment in which tax directors operate is changing dramatically: 

  • Lingering economic uncertainty puts pressure on many companies to cut costs and on tax authorities to boost revenue.
  • Globalization continues to drive business and finance transformation and the centralization of finance, tax and other functions.
  • Companies are expected to improve their governance, accountability and transparency in all areas, especially tax.
  • Regulation demands ever more tax transparency through the disclosure of data to the tax authorities and, in some cases, publicly.
  • Governments and the public are debating tax morality and demanding that companies pay a “fair share” of tax where they earn their profits.

 

TAX TOOLS & RESOURCES

 
As more organizations operate across borders, the following global tax tools and resources will help you gain a global perspective and keep you up-to-date with the latest global tax developments.
 
 
GOVERNANCE
 
Tax strategy and tax function design.

The attitudes of many governments, shareholders and boards of directors to tax are changing – managing tax risk and reputational issues are high on the agenda. For today’s tax directors, it is essential to meet compliance obligations, work with the business, and communicate internally and externally on the group’s tax position, while improving their efficiency and cost-effectiveness. Tax directors need to ensure their tax functions are equipped with the capabilities they need to meet these varied demands.

In the experience of PRUBIZ members, setting a tax strategy, putting in place a governance framework and taking steps needed to bring it to life are the building blocks to success. Establishing the right operating model for your tax function is key. PRUBIZ Tax Management Consulting team can help you: 

  • Establish a clear tax vision and strategy that is aligned with the business objectives of the wider organization and articulates how the tax function will deliver value.
  • Determine your appetite for risk including reputational risk.
  • Implement a governance and control framework that defines the taxes for which the tax team is responsible.
  • Implement processes and controls to manage your tax risks across all of the taxes for which you are responsible.
  • Create the right operating model for your tax function, mapping out the people, processes and technology you need to efficiently deliver the agreed tax strategy.
  • Benchmark your tax function and put in place relevant key performance indicators (KPI) to drive the right behavior and demonstrate success.
  • Get visibility over your global tax data and develop a plan to communicate your tax position and comply with legislative requirements, whether you are reporting to the tax authorities or the public.

 
TECHNOLOGY
 
Technology can be essential to the effective management of tax and can free resources from compliance and validation activity to focus on more effective management of risk. But all too often, businesses fail to maximize the tax functionality of existing finance platforms or invest in additional tools without a clear strategy for realizing what they aim to achieve.

PRUBIZ Tax Management Consulting team can help you:

  • Put in place tools to give you all the management information you need over tax filing, payments and risks across your business.

  • Identify weaknesses in your business and tax processes and put in place data analysis tools to act as a compensating control.

  • Deliver potential cost and resource savings by reducing the time spent on consolidating, analyzing and reporting data through greater automation.

  • Access faster, more accurate reporting and forecasting data, aligned to clear business metrics, to enable informed strategic decisions and improved performance.

  • Use technology to help you comply with country-by-country reporting obligations.

 

CORPORATE INCOME TAX
What is Corporate tax ?
  • Corporate income tax is charged on a tax resident company i.e. Sdn Bhd which is having Malaysia derived income or received income in Malaysia from outside Malaysia.
 
Corporate tax rate :
  • Company paid up capital up to RM2.5 million at the begining of the basis period.
   - Chargeable income at the first RM500,000 = 20%          
   - On the balance of chargeable income = 25%
 
  • Company paid up capital exceeding RM2.5 million at the beginning of the basis period.
   - All chargeable income = 25%
 
For more information, please visit http://www.hasil.gov.my/
 
 
COMPLIANCE AND REPORTING SERVICES 
 
For both domestic businesses and multi-national companies, compliance with an increasing number of tax rules, more rigorous and coordinated enforcement by tax authorities, and ongoing staffing constraints continue to be a challenge. As businesses expand operations into new markets the complexity of managing tax risks and complying with reporting requirements multiplies. PRUBIZ offers efficient, cost-effective tax compliance services, including co-sourcing and outsourcing options. A suite of integrated tax technologies can help companies achieve their goal of high quality, lower-cost compliance. In addition, some technologies have the potential to give businesses enhanced visibility into more global information that may be useful to them in strategic decision making.
 
 
FINANCIAL ACCOUNTING FOR INCOME TAX
 
Financial accounting and reporting for income taxes have become increasingly complex. Tax departments must keep up with the latest regulatory developments and guidance related to income tax accounting, disclosures and documentation, as well as seeking ways to address their tax provision process and technology needs more reliably and efficiently. PRUBIZ tax professionals understand the complexities and can provide practical insight, standardization, and technical expertise to help clients navigate through the maze.
 
 
TAX CONTROVERSY SERVICES 
 
Current trends suggest that multinational organizations will continue to spend more time and resources managing tax controversies in both their local and foreign markets. Tax authorities are sharing information about companies and focusing increasingly not just on the technical merit of a tax position but also on implementation. PRUBIZ tax controversy teams include former tax authority officials, alternative dispute resolution specialists, and in many countries, tax litigation specialists who can assist multinational businesses at all phases of the tax controversy cycle.
 
 
LHDN - PAYMENT CODE
 
Payment CodeTax Tax categories
084 Bayaran Ansuran Cukai - Individul
086 Bayaran Ansuran Cukai - Syarikat
088 Pendahuluan / Ansuran Cukai Komposit
090 Bayaran Cukai Keuntungan Harta Tanah
095 Bayaran Cukai Pendapatan (tidak termasukskim ansuran)
150 Bayaran Kenaikan Seksyen 103A / 103
151 Bayaran Seksyen 108
152 Bayaran Kenaikan Seksyen 108
153 Bayaran Kenaikan Komposit
154 Bayaran Kenaikan Seksyen 107C(9) / 107B(3)
155 Bayaran Kenaikan Seksyen 107C(10) / 107B(4)
156 Bayaran Kos Mahkamah
157 Bayaran Faedah Atas Hutang Hukuman
158 Bayaran Ansuran Dibenarkan oleh Audit
159 Bayaran Ansuran Dibenarkan oleh Unit Pemungutan
160 Bayaran Ansuran Dibenarkan oleh Unit Guaman Sivil
173 Bayaran Kos Guaman
178 Bayaran Seksyen 108 (Sek 25)
181 Bayaran Kenaikan Seksyen 25
196 Bayaran Penyelesaian Cukai
197 Bayaran Penyelesaian Cukai - Majikan
250 Bayaran Kenaikan CKHT