E-Commerce Growth in Malaysia: Key Factors Behind the Surge
5 minutesIn recent years, Malaysia has witnessed an unprecedented surge in e-commerce activity, transforming its digital landscape into a bustling hub of online commerce. This rapid growth can be attributed to a confluence of factors, including government support, advances in logistics, and changing consumer behaviors.
How to Open a Company in Malaysia
5 minutesMalaysia’s economy is quickly growing, making it an amazing place for business owners to start earning. It’s a great option for anyone wanting to invest in an up-and-coming market. If you’re interested in learning how to open a company in Malaysia, however, there are some things you should know about the Malaysia company formation process. This helpful guide walks you through what you need to know to set up a company and start doing business in Malaysia!
Understanding What is Sales and Service Tax in Malaysia for Business Owners
3 minutesThe Sales and Service Tax (SST) stands as a critical component of Malaysia’s taxation framework, designed to replace the broader Goods and Services Tax (GST) in 2018. This pivotal shift aims to streamline tax collection while minimizing the financial burden on consumers. This guide delves into the intricacies of what is sales and service tax in Malaysia (SST), illuminating its structure, implementation, and ongoing impact on various economic sectors.
What is SSM in Malaysia: Essential to register for Malaysia Company
5 minutesStarting a business in Malaysia requires navigating various legal and regulatory frameworks, one of which is the Suruhanjaya Syarikat Malaysia (SSM), or the Companies Commission of Malaysia. SSM plays a crucial role in the Malaysian business landscape, overseeing company and business registration as well as ensuring compliance with corporate laws. This article provides a comprehensive guide on what SSM is, the requirements for starting a business in Malaysia, the importance of the SSM certificate, the necessity of SSM for registering a new SDN BHD company, and the step-by-step process for registering with SSM. Whether you are an aspiring entrepreneur or an established business owner, understanding SSM is essential for successful business operations in Malaysia.
Understanding Withholding Tax in Malaysia for Foreign Business
3 minutesIn the dynamic world of business, statutory compliance represents a crucial cornerstone, ensuring companies operate within the legal frameworks established by governing bodies. This comprehensive exploration delves into the essence of statutory compliance, highlighting its importance in maintaining the legal and financial health of businesses. By understanding and adhering to various statutory requirements, companies can navigate the complexities of the business environment more effectively, fostering sustainability and growth.
Malaysia Audit Exemption: The Impact on Local Businesses
4 minutes
The Malaysian government is reviewing the criteria for audit exemptions, a move deemed to significantly impact local businesses. This proposed review aims to streamline compliance processes and reduce costs for smaller entities. Under the current framework, companies can qualify for audit exemption based on three main criteria: dormancy, zero revenue, and meeting specific thresholds for assets, revenue, and employees. Dormant companies, which have no significant transactions, and zero-revenue companies, which have not generated income during the financial year, are prime candidates. Additionally, small companies that meet the thresholds set by the Companies Commission of Malaysia (SSM) are also eligible. Despite the exemption, these companies must still submit their financial accounts to the SSM, ensuring transparency and regulatory oversight remain intact. In this article, we will unfold the key elements behind the Malaysian audit exemption.
A Comprehensive Look at Malaysia E-Commerce Accounting Standards
5 minutesHave you been managing the accounts and books for your business by yourself? If you have, how’s that been for you? With the numerous tasks that business owners have to take care of and overseeing the activities of staff and other business members, accounting and bookkeeping are definitely not fun tasks to take on.
How to Strike Off a Company in Malaysia: The Procedures Involved
5 minutesSeveral reasons could lead to shutting down or striking off a company such as the death of the owner or any major stakeholder in the company, dormancy, and inability of the company to bring in profit, among many others. There are specific rules that guide the process of shutting down a company in Malaysia and this piece is focused on them.
7 Convincing Reasons for Business Owners to Outsource Accounting Services in Malaysia
5 minutesHave you been managing the accounts and books for your business by yourself? If you have, how’s that been for you? With the numerous tasks that business owners have to take care of and overseeing the activities of staff and other business members, accounting and bookkeeping are definitely not fun tasks to take on.
Malaysia’s Digital Economy: Growth and Opportunities
5 minutesThe digital landscape in Malaysia is transforming the socioeconomic fabric of the country. As an emerging digital hub in Southeast Asia, Malaysia has positioned its digital economy as a central pillar of its national development strategy. This segment of the economy is now critical in facilitating sustainable growth, enhancing productivity across industries, and improving the overall quality of life for its citizens.
