Corporate Tax Services in Kuala Lumpur, Penang and Johor.

 
Corporate tax is levied on the income generated by companies or corporations. Such tax is usually levied on the profits, if any, of the assessed in question. Corporate tax can also be applied on the capital of a company in addition to its operating incomes. Typically, the rules governing corporate taxation are quite similar to those on personal income tax but of course there are some differences. In Malaysia, tax laws are regulated and enforced by Inland Revenue Board of Malaysia, as known as Lembaga Hasil Dalam Negeri. The main office is located at Hasil Tower Persiaran Rimba Permai Cyber 8, 6300 Cycberjaya Selangor. In OneAccouting, our service areas include but not limited to corporates in KL, Selangor, Johor, and Penang.

Deductions Possible On Corporate Tax

As in the case of personal income tax, the taxable income of companies can also be reduced by a number of means. While the government allows deductions to the taxable income of companies and individuals for a number of reasons, taking advantage of these opportunities means that tax burden is significantly reduced and resources are freed up to be reinvested in the company or remitted to employees and shareholders as the management sees fit.
In Malaysia, the government is constantly giving incentives to promote corporate growth and entrepreneurship. Business owners and investors are urged to follow the trend and latest tax policy to maximise earnings while cultivating Malaysia’s economy towards intended direction. For example, GST tax that has been imposed and required to file every 3 months may provide the GST-companies a competitive advantage. In perspective, it is essentially lending money to corporates on short-term basis, the term is 3 months.
Additionally, for companies operating in more than one tax jurisdictions, there can be overlap and extraneous circumstances that can allow taxpayers to reduce the amount of tax they owe. Typically companies only pay tax on the income they generate within the borders of the jurisdiction, which typically is the entire country. Additionally, incorporated entities also derive a number of advantages, many related to taxation.

What Can We Do With Corporate Tax Services?

Corporate taxation is a vast area of tax policy that requires significant intuition and experience to deal with. Typically, any expenses incurred that are related to the operation of the business are tax deductible, meaning that the amount is deductible from the taxable income. Therefore, by implementing some intelligent restructuring of the relevant expenses, corporate tax payable to the government can be significantly reduced.
Affecting this, however, is easier said than done. Thankfully, OneAccounting is here at your service. We have been providing top notch financial services for quite some time. We employ the most talented professionals in the industry and are renowned for our accuracy, efficiency, and quality of services we provide. We leverage on our immense experience in providing quality accounting and taxation services to a wide number of very diverse clients to deliver unparalleled services.
OneAccounting provides superior tax and accounting services tailored to the needs of our clients including personal tax services. We have provided some useful insights in Resources tab as well. With our industry leading services and extensive experience, you are assured of quality and utility every time you contract with us. Contact us today for an no-obligation quote.