Learn more about how to start a business / company in Malaysia and how to operate it properly under the laws of Malaysia. If you're starting up new, the articles are very useful for new business owners too.
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In the year 2022, the pandemic has been ongoing for nearly three years now. Not only has it reshaped various sectors across the globe, it also continues to profoundly disrupt various aspects of our lives. Regardless, life goes on.
In Malaysia, the economy started to recover in the fourth quarter of 2021. While some businesses were able to recover to their pre-pandemic state, others still struggle due to the many pandemic risks and unforeseeable circumstances. Consequently, some may consider closing their Sole-Proprietorship or Partnership.
There are many reasons for one to close a Sole-Proprietorship or Partnership, some of these include:
Prior to business termination, one must first determine if the business registered has expired. In cases where the:
Many often confuse SSM’s Form C with one that is of the Inland Revenue Board of Malaysia (LHDN). It is crucial to realise that both Form Cs are dissimilar and of different purposes.
Download SSM’s Form C here.
Below are the documents required when filling in Form C to apply to close a Sole-Proprietorship or Partnership:
A Sole-Proprietorship or Partnership is not a legal entity, all its chargeable income will be taxed at the business owner’s personal income tax.
You are advised to consult your tax agent to close your tax file permanently and properly.
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