BossBoleh

Articles

Learn how to start and properly operate a business in Malaysia. These articles are also useful for new business owners.

Incorporation
Contribution on EPF, SOCSO & EIS in Malaysia as an Employer
Posted at: 28-12-2021
Apart from monthly salaries, Malaysian employers must contribute to their employees’ EPF, SOCSO, and EIS accounts. During your time as an employee before beginning a business, you may have observed a deduction from your monthly gross compensation as shown on your payslip.
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Budget Newsletter
Budget 2022: Others
Posted at: 17-12-2021
The tourist exemption will be extended for one year until December 31, 2022, according to the most recent budget proposal for budget 2022.
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Budget Newsletter
Budget 2022: Excise Duty
Posted at: 16-12-2021
In terms of excise duty, the budget for 2022 proposes levying a tax on nicotine-based gel or liquid products used in vapes and electronic cigarettes. The government intends to widen the scope of excise tax to include premixed sugary drinks produced from chocolate, malt, coffee, and tea in order to promote a healthy lifestyle.
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Budget Newsletter
Budget 2022: Financing Package
Posted at: 15-12-2021
Under the Program Semarak Niaga Keluarga Malaysia (SemarakNiaga) for 2022, financing packages worth a total of RM40bil will be provided in an effort to revitalize businesses, particularly micro, small and medium enterprises (MSME) and the formal sectors.
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Budget Newsletter
Budget 2022: Grant
Posted at: 14-12-2021
Grants and start-up funding have been set down in Budget 2022 to help the country’s innovation and technology thrive. For research and development, RM423 million has been set aside under the Science, Technology, and Innovation Ministry (MOSTI) and the Ministry of Higher Education.
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Budget Newsletter
Budget 2022: Real Property Gains Tax
Posted at: 09-12-2021
Real Property Gains Tax (RPGT) is a tax imposed by Malaysia’s Inland Revenue Board (IRB) on chargeable gains resulting from the sale of real estate. For Budget 2022, from the sixth year forward the RPGT would not be applied to property sales and this would mean that the RPGT rate for property disposals in the sixth and subsequent years.
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Budget Newsletter
Budget 2022: Stamp Duty
Posted at: 08-12-2021
Stamp duty exemption on loans and funding for Peer-to-Peer (P2P) Financing was included in the budget for 2022. Peer-to-peer loan or financing arrangements between SMEs and investors performed from 1 January 2022, to 31 December 2026, are exempt from all taxes.
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Budget Newsletter
Budget 2022: Indirect Tax
Posted at: 07-12-2021
In terms of indirect taxes, the budget for 2022 proposes a two-phased special voluntary disclosure program for indirect taxes. From 1st January 2022, real estate gains tax will be exempt. Mergers and acquisitions are free from stamp taxes.
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Budget Newsletter
Budget 2022: Tax Incentives
Posted at: 02-12-2021
Certain tax-related initiatives, such as the renewal of current tax benefits, were also included in the 2022 budget. A unique “reinvestment allowance” has been extended until 2024.
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Budget Newsletter
Budget 2022: Business
Posted at: 01-12-2021
Cukai Makmur was imposed on the budget in 2022, as well as other Small and Medium Enterprises (SME). There will also be a reassessment of the handling of unabsorbed losses, as well as a double tax deduction for Anchor enterprises participating in the vendor development program.
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Budget Newsletter
Budget 2022: Individual Tax
Posted at: 30-11-2021
Individual or personal income tax, in Budget 2022, the budget plan included the continuation of individual tax relief, as well as tax relief for contributions to social security organizations (SOCSO).
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Budget Newsletter
Budget 2022: Economic Outlook
Posted at: 25-11-2021
Budget 2022 shows that economic growth in 2021 is expected to recover from the economic downturn experienced in 2020 as a result of the COVID-19 pandemic.
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Budget Newsletter
Boss Boleh’s Budget Newsletter 2022 Edition
Posted at: 23-11-2021
Budget 2022 proposals to reconstruct the economy were created around the primary themes of recovery, resilience, and reform. Measures aimed at raising government tax revenues and sprurring investment are included in the tax plans.
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Company Secretary
What is the registered office / registered address?
Posted at: 20-11-2021
oration, every company shall inform SSM the location of its registered office within Malaysia by submitting the Form 44 to SSM.
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Business Strategy
Follow these 5 ways on How to Run Your Business as a Sdn Bhd in Malaysia
Posted at: 17-11-2021
To maintain a business in Malaysia, you do not generally have to enroll a Sdn Bhd, yet there are five scenarios where you ought to do such. There are eight main types of business enterprises, each with its own set of criteria and objectives. However, because of the advantages it provides, Sdn Bhd is one of the most often registered corporate formations. These are the top five reasons to form a Sdn Bhd as your company’s legal entity.
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Company Secretary
Why Sdn Bhd easier to get Bank Loan?
Posted at: 22-10-2021
Sdn Bhd need to comply with Companies Act, every year need to prepare Audited Financial Statement and submit to SSM.
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SSM
Registering Sdn Bhd at an SSM Counter
Posted at: 12-10-2021
For a company to run, the minimum requirement in Malaysia requires at least 1 director and 1 shareholder (same entity eligible) to incorporate the company. A few criteria are required to be checked off.
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Company Secretary
Company earn RM 300,000, how much tax need to pay? Sdn Bhd vs Enterprise
Posted at: 08-10-2021
If we take RM 300,000 as chargeable income , Sdn Bhd need to pay RM 51,000 Tax; whereas for Enterprise need to pay RM 59,150
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Incorporation
How To: Register a Sole Proprietorship or Partnership in Malaysia
Posted at: 01-10-2021
A quick guide on how to register your business with SSM and why it may not be suitable for you.
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Business Strategy
How to reduce share capital ?
Posted at: 24-09-2021
How to reduce share capital ? The share capital of a company is the only security on which creditors rely. So, any reduction of share capital diminishes the fund out of which they are to be paid. As a result, companies with shares are not allowed to reduce the capital frequently.
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