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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If you have a job or have been employed before, you should have come across this little piece of paper called the EA form. Every time before the tax season comes around, you will see everyone scrambling around the Human Resource teams’ office trying to get their own.
For everyone who has no idea what EA forms are, let us break it down for you.
The EA form is a Yearly Remuneration Statement that includes your salary for the past year. You will need to refer to this to file personal taxes during tax season. (When you do your annual e-Filing at LHDN)
“every employer shall, for each year, prepare and render to his employee statement of remuneration of that employee on or before the last day of February in the year immediately following the first mentioned year”.Section 83(1A) Income Tax Act 1967
As an employer, this will be your responsibility to ensure that the rest of your employees get their forms by the month of February every year.
Starting in year 2018, the Malaysian Business Reporting System (MBRS) allows employers to submit all financial reports at the end of the year including EA forms to SSM.
Most Sdn Bhd are paying more than RM 1,500 every year. This includes secretarial fees, Annual Return and Financial Statement submission. At Boss Boleh, you could be paying as low as RM 856 annually.
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