Malaysia’s 2019 Budget contains plans for an overhaul of sales and service tax rules and a corporate tax cut for small- and medium-sized enterprises. The lower corporate tax rate of 18 percent will be reduced to 17 percent. This rate is offered to those companies with paid-up capital of up to MYR2.5 million (USD600,000) or […]
On 6 October 2020, Cambodia’s National Assembly (lower house of Parliament) approved for ratification the pending income tax treaty with Malaysia.
All companies incorporated in Malaysia must have their accounts audited by a Ministry of Finance approved auditor as mandated by the Companies Act of 2016. Under the Act, private companies are no longer obligated to hold annual general meetings (AGMs). Most companies in the country choose to have their fiscal period end either on the […]