Incorporation of Malaysian Company
To set up a company in Malaysia, the following conditions must be met: Provide a minimum paid-up capital of RM1. At least one subscriber to the company shares. At least one director (aged 18, living in Malaysia)
Applying Business Licence
It is very important to get a business license because it will clarify your reputation as a trader (online or offline) after registration.
Obtaining a valid business license is important to do business in Malaysia. This includes licensing, registration, permits and approvals. Business licenses can be applied from the licensing authority Pihak Berkuasa Melesen (PBM) related to the location and business activities. Before a company can legally start a business, it must comply with some form of licensing. This can be a general license, an industry / sector-specific license, or an activity-specific license. Business licenses are regulated by law and are governed by various government agencies, statutory bodies and local authorities. Business licenses include registrations, approvals, licenses, and permits. Compliance requirements vary by industry, business activity, and location.
Business licenses can be divided into three different logical groups:
1. General licenses
2. Industry sector-specific licenses
3. Activity-specific licenses
With the increasing focus on governance and regulation, tax compliance has never been so important.
Compliance failure represents not only a financial risk — financial penalties and possible increase in the tax charge but also a serious business risk, as it can damage the taxpayer's reputation.
Tax regulations and cross-border tax matters remain a complicated and evergreen issue. As the pace and complexity of tax laws continue to increase, professional advice is essential.
In the modern business environment, high quality tax advice and planning can give your business a distinct competitive advantage.
How we can help
Bestar offers a full range of Tax Services. Regulatory compliance is amongst our core competency. We offer all aspects of regulatory compliance services. Bestar’s team of dedicated Tax experts ensure that when it comes to tax, your businesses stay compliant with regulations and deadlines.
We advise clients on management of critical tax issues arising from business given our understanding of technical issues and compliance. We advise you on your tax concerns arising from your business transactions.
01 Tax Compliance Services
• Preparing and Filing Sales and Service Tax Returns
• Preparing and Filing Corporate Tax Returns
• Preparing and Filing Partnership Tax Returns
• Preparing and Filing Personal Income Tax Returns and book.
02 Tax Advisory Services
• Advising on Sales and Service Tax
• Advising on Effective Tax Structuring/Restructuring Solutions for Clients
• Advising on Tax Implications relating to Cross-Border Transactions
• Advising on Tax efficient employment packages
• Assisting with Tax Investigation and Audit Cases
• Conducting Tax Due Diligence Work
• Implementation of Sales and Service Tax
• Tax Incentives Application
• Real Properties Gains Tax
Get in touch with our Tax experts today!
To find out more about the services we offer we offer in this area please contact us.
Count on Bestar’s Tax Experts to Keep Your Business Compliant
Our team of chartered accountants will keep your business compliant with our professional accounting and bookkeeping services in Malaysia. Rest assured that Bestar's professional accounting services will keep your business up to date with the latest accounting standards in Malaysia. With Bestar, you can expect a team of certified accountants and outsourced accounting professionals to ensure your business is compliant in the face of complex requirements set by applicable authorities and accounting standards. Bestar is here to ensure that the integrity of your company's financial statements remains intact through:
1. Interim Financial Management Solutions
- Providing short-term accounting outsourcing to assist with accounting and payroll services to relieve customers of unforeseen staff turnover or staff leave
- Assisting customers with accounts restructuring due to incomplete, missing or damaged documents
- Tidying up of accounts before the Initial Public Offer
- Solving problems related to general accounting
2. Bookkeeping and Statutory Accounting Services
- Preparing an accounts chart
- Recording all accounting transactions
- Preparing monthly bank statements and analysis reports - Compiling monthly management financial reports and service tax statements
- Preparing statutory financial statements that comply with Financial Reporting Standards
- Presenting reports in currencies other than functional / presentation currencies
3. Consolidation of Group Accounts - Completing group accounts consolidation and headquarters reporting package
4. Accounts Payable Management - Payment of vendor invoices and employee expense claims - Issuing payment vouchers and preparing cheques - Sending signed cheques, or sending money via telegraphic transfer
5. Cash & Treasury Management Services
- Paying vendor invoices and employee expense claims
- Issuing payment vouchers and payments through electronic banking or using the traditional mode of telegraphic transfers / cheques
- Informing the payees by email / Mailing the cheques to the payees - Maintaining a general or exclusive trust account where customer funds are received or withdrawn
- Maintaining separate ledgers for joint trust accounts
- Monthly bank reconciliation for exclusive trust accounts
Allocate your time and effort where it is most needed and leave accounting to our team of experts. Our comprehensive range of accounting services can help keep your business ahead of the curve and up-to-date.
Corporate Secretarial Services
What is company secretary Malaysia?
Being the company secretary appointed by your company means she is responsible for ensuring that Malaysian laws and regulations are always complied with. If you have any questions about your company's legal compliance, you should be able to discuss them.
What is the meaning of corporate secretary?
In any organization, the responsibilities of a company secretary include ensuring the integrity of the governance framework, responsibility for effective company management, ensuring compliance with statutory requirements and regulations, and implementing board decisions.
What are secretarial services?
A secretarial service act as an advisor and employee, which leads to cost savings as it serves as a mentor to help companies pass legal requirements and compliance easily. The company secretary not only has to be good with legality, but also has a lot of knowledge in improving the efficiency of the company.
Speak with us today for company secretarial services package.
Our annual service includes:
- appointment of a secretary
- maintenance of statutory registers
- filing of Annual Returns
Our audit professionals provide a range of independent audit services based on a strong knowledge of accounting principles.
Its function is to increase the reliability of information provided by customers for use by investors and other stakeholders.
Our audit professionals provide a wide range of independent audit services based on strong basic knowledge of accounting. This is complemented by accurate knowledge of business systems, processes and controls.
We believe in open communication and understand the importance of timely identification and problem solving. This is why we provide our clients access to our engagement team personnel.
Our audit process focuses on key risk areas, based on the company's operational characteristics and performance profile. Our partners and professionals are trained to take a closer look at all aspects of financial reporting to better isolate risk. The overall result is an independent and firm view that proves the quality of the information provided. Financial Statement Audit It allows us to identify and assess the risks that affect their business and the achievement of goals.
We tailor the quality of our audit to your needs. Through continuous evaluation, our audit procedures remain robust and in line with current needs.
How do we add value
- We provide statutory and non-statutory audits.
- We guide customers through the financial reporting regime by collecting and evaluating financial information that will assist customers in making decisions and identifying business risks.
- We help clients to comply with specific reporting requirements such as, limited and quarterly reviews; and perform agreed upon procedures when required
- Our auditors provide efficiency and effectiveness through a risk-based approach. - We provide gap analysis, conversion services and performance improvement recommendations where appropriate and relevant.
Why KWL & Co
You need an independent opinion on your financial statements by a qualified firm.
You are using an audit rotation policy and may be mandated to change the external auditors in the near future.