WHAT NEXT AFTER YOU HAVE YOUR…..

OWN WEBSITESTARTING TO POST YOUR

PRODUCT OR SERVICES ON FACEBOOK/LINKEDIN

YOU EVEN CLOSE YOUR FIRST SALE

WHAT IF YOUR CUSTOMER REQUEST

A INVOICE FROM YOU?

WHO SHOULD YOU ADDRESS THE

INVOICE FROM?

UNDER YOUR PERSONAL NAME ?

WHAT IF YOUR CUSTOMER REQUEST A GST TAX INVOICE FROM YOU SO THAT HE CAN CLAIM BACK “GST INPUT TAX”?

I THINK I NEED TO

REGISTER A COMPANY….

Business Registration Act (BRA)

-Compulsory to register Co under (BRA)when running a business

Income tax PURPOSE

- To avoid penalty

- Penalty RM200 to RM2000/6 months imprisonment

For bank financing

e.g: car loan, housing loan etc

GST purpose/MS

C Status

OTHER REASON TO REGISTER COMPANY?

WHAT KIND OF COMPANY TO REGISTER??

•SOLE PROPRIETOR

•PARTNERSHIP

1

•SDN BHD

2

•LIMITED LIABILITIES PARTNERSHIP

•OTHER

3

(1) SENDIRIAN BERHAD

MOST POPULAR

LIMITED LIABILITY

TAX RATE 20% FOR FIRST RM500K CHARGEABLE INCOME

2)SOLE PROPRIETOR/ PARTNERSHIP

UNLIMTED LIABILITIES

LESSER SETTING UP COST

TAX RATE 19% FOR 1ST CHAGEABLE INCOME RM

70K

(1)

•REGITERED A COMPANY

(2)

•“ONLINE” YOUR BUSINESS TRANSACTION

(3)

•APPLY MSC STATUS FOR 5/10 YEARS TAX EXEMPTION

BENEFIT OF MSC STATUS

5 YEARS 100%TAX EXEMPTION OR ITA

ELIGIBLE R & D Grant

Borrow fund

globally

• JOBSTREETS.COM

EXAMPLE OF MSC CO

• Excard.com.myExample of

normal printing co

obtain 5/10 years tax free

AFTER REGISTERED CO•ONE IMPORTANT ISSUE TO LOOK INTO…..

GST

GST REGISTRATION

LIABILITY TO REGISTER

Registration is mandatory for businesses whose taxable turnover has exceeded the prescribed threshold of RM500,000.

DETERMINATION OF TAXABLE TURNOVER

Total value of taxable supplies of any month and the previous 11 months (Historical turnover)

OR Total value of taxable supplies of

any month and the next 11 months (Future turnover)

WHY GST???

Turnover>RM500k need to register-penalty

Claim back 6%GST that you paid included on the purchases/expenses

Stay competitive

TL TAX SERVICES SDN.BHD.

MERIT CORPORATE SERVICE SDN. BHD.

Company Incorporation

Company Secretary

Accounts

GSTRegistration & monthly

submission of EPF,SOCSO,

PCB

Taxation

Company Strike off

OUR SERVICE

S

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