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Malaysia Payroll, Accounting, Business Management Articles & guidelines

Stay current with the latest changes, rules, and regulations in Business, Management, Taxation, Payroll in Malaysia. Get access to the latest news and articles.


Account Related

Malaysia LHDN E-Invoice - Part 5: How to Register E-Invoice in Malaysia?
SQL Account
E-Invoice
Popular
Starting August 1, 2024, businesses will need to validate all invoices issued to buyers. You can issue e-invoices either directly through the LHDN off...
What is Hire Purchase Loan?
SQL Account
Education
Features
Popular
A hire purchase loan is a type of monthly instalment plan you can use to purchase an asset, which will require the buyer to make an initial down payme...
best accounting software in malaysia - SQL Account
Which Accounting Software Is The Best In Malaysia?
SQL Account
Popular
SQL Account is an easy to learn software with a clean, intuitive user-interface. SQL Account automatically commits all accounting double entries for e...
What is CP38 - SQL Payroll
Capital Allowance Guides
SQL Account
LHDN
Capital allowance claim allows businesses to offset tax liabilities by deducting eligible capital expenditures from their taxable income.
Malaysia E-Invoicing - Part 4: Who Must Comply & Who Can Be Exempted?
SQL Account
E-Invoice
Popular
The Malaysian government has implemented a mandatory e-invoicing system to streamline tax processes and enhance transparency. Businesses with an annua...
Malaysia E-Invoicing - Part 3: Accounting Software API or Manual Submission?
SQL Account
E-Invoice
Popular
As part of Malaysia's effort to improve the efficiency of its tax administration management, the Government plans to implement e-Invoice in stages to ...
Malaysia E-Invoicing - Part 2: A 72-Hours Grace Period for Adjustments
SQL Account
E-Invoice
Popular
The Inland Revenue Board of Malaysia (IRBM) is implementing a new e-Invoicing system to streamline and enhance the country's tax administration. The e...
Malaysia LHDN E-Invoice - Part 1: Mandatory E-Invoice for Tax Payers
SQL Account
E-Invoice
Popular
IRB targets 4,000 businesses by August 2024 for mandatory adoption of E-Invoice by Malaysia LHDN for annual turnover of RM 100 million! By July 2025, ...
How to Pay 2% Agent Commission Withholding Tax to LHDN
SQL Account
LHDN
There are 3 branches across Malaysia that handle the 2% Commission Withholding Tax: Kuala Lumpur Branch (For Peninsular Malaysia), Kuching, Sarawak Br...
Calculating 2% Agent Commission Withholding Tax: Inclusive or Exclusive?
SQL Account
LHDN
It is important to understand that the 2% withholding tax on agent commissions is not applicable to all agents, dealers, or distributors. This tax is ...
How to check income tax number online?
SQL Account
LHDN
Popular
To simplify the process of obtaining income tax numbers, the Inland Revenue Board of Malaysia (LHDN) offers an official portal. This portal serves as ...
Withholding Tax for Agents
SQL Account
LHDN
A 2% Withholding Tax (WHT) will be imposed to agents, dealers and distributors whose commissions surpasses RM100,000 within 1 year.
What is Profit & Loss Statement?
SQL Account
Education
The term “profit and loss” is used in reference to a Financial Statement that gives us a summarised overview of a company’s revenues, expenses, ...
What is CP204 & CP204A?
SQL Account
LHDN
CP204 is a form for submission of estimated tax payable. Trust bodies, cooperative and Limited Liability Partners (LLP) are required to submit the CP2...
How To Pay Withholding Tax?
SQL Account
LHDN
All payments for royalties and special class of income can be made via: Telegraphic transfer, Interbank Giro, and Electronic Transfer.
What is Real Property Gains Tax (RPGT)
What is Real Property Gains Tax (RPGT)?
SQL Account
LHDN
It is a tax charged on the profit earned from the selling of chargeable assets. Chargeable assets include houses, lands, condominiums and also shares ...
Capital Allowance
SQL Account
LHDN
Capital Allowance is used as a subsidy to for the depreciation of fixed assets. Capital allowance is given to reduce the tax payable for the capital.
What is CP58?
SQL Account
LHDN
CP58 is a statement of monetary and non-monetary incentive payment to an agent, dealer or distributor
What is Withholding Tax?
SQL Account
LHDN
Withholding tax is an amount that is withheld by the payer on income earned by a payee who is not a resident in Malaysia.
What Is Digital Tax?
SQL Account
RMCD
A 6% service tax will be implemented for digital services in Malaysia from 1st Jan 2020 onwards. The tax is expected to affect streaming services like...
What Is Wages Subsidy Programme (WSP)?
SQL Account
Prihatin
The purpose of the wage subsidy programme is to help employers affected economically by Covid-19 to continue operations and avoid the loss of jobs and...
What is Employee Retention Programme (ERP)?
SQL Account
Prihatin
Employee Retention Programme / Program Pengekalan Pekerjaan is an immediate financial assistance worth RM600 monthly for employees who have been inst...
What is CP 500?
SQL Account
LHDN
CP500 is a "Notis Bayaran Ansuran" which means "Prepayment of Income Tax by Installment". Form CP500 is a tax installment scheme for a taxpayer that h...
7 Factors to Consider When Buying an Accounting Software

SQL Account
Transfer Pricing

As of 2020, the government has imposed penalties for companies who are non-compliant with transfer pricing regulations. Prior this, such penalties did not exist. The IRB (Inland Revenue Board) has also shown more and more interest on the grey areas surrounding Transfer pricing.

SQL Account
4 Type of Business Incorporations in Malaysia

Are you thinking of starting a business in Malaysia? Did you know there are more than 1 type of business incorporation in Malaysia? In Malaysia there are 8 different types of businesses. They are Sole Proprietor, Partnership, Limited Liability Partnership, and Private Limited Company, Unlimited Company, Public Limited Company, Company Limited by Guarantee (CLG) and Foreign Company. In this article, we will be discussing the top four popular type of businesses in the list, tax rate, and more.

SQL Account

Payroll Related

Which Payroll Software Is The Best In Malaysia?
SQL Payroll
Popular
SQL Payroll is a the most popular Malaysia Payroll software that removes the complexities in Human Resources Management, fast, easy, and accurate. SQL...
SQL Professional Income Tax Calculator
SQL Payroll
LHDN
Popular
A tool that can calculate personal income tax in Malaysia. Enter income and tax relief details, the tax amount, tax bracket and tax rate will be calcu...
Steps to Submit & Pay Personal Income Tax
SQL Payroll
LHDN
Popular
Learn how to submit your personal income tax in Malaysia. Get step-by-step guidance from register tax account, submitting income tax online, and makin...
Register Personal Income Tax Account
SQL Payroll
LHDN
Are you first time to submit your income tax and don't have a income tax account yet? Follow our step-by-step guidance to register for your income tax...
Salary Calculation Malaysia
SQL Payroll
Education
Popular
Calculating salaries can be a daunting task, especially for those who are new to the workforce or for employers who are new in Malaysia. However, it i...
Steps to Submit Borang E / CP8D
SQL Payroll
LHDN
As an employer in Malaysia, you are required to submit your company CP8D via LHDN MyTax Portal before 31st March every year. In this guide, we'll take...
Employment Act Amendments 2022
Maximum Working Hours - Employment Act
SQL Payroll
Popular
Before 1 Jan 2023, the maximum working hours per week for non-shift and shift employees is 48 hours. From 1 Jan 2023 onwards, maximum working hours pe...
SOCSO & EIS Combine Submission
SQL Payroll
EIS
SOCSO
Starting from July 2022, employers can now combine to submit SOCSO and EIS contributions simultaneously in the PERKESO portal under "Combine Contribut...
Employment Act Amendments 2022
Employment Act Amendments 2022
SQL Payroll
Popular
Human Resources Minister has announced that the amendments on the Employment Act effective from 1st Sept 2022 has been postponed to 1st Jan 2023. Ther...
Budget 2022: Statutory Contribution & New Tax Initiatives
SQL Payroll
Payroll Malaysia 2022 changes and updates
What is CP39?
SQL Payroll
LHDN
CP39 is a statement of monthly tax deduction (PCB) need to submit to LHDN Malaysia every month by every employer, effective 01 Sept 2019 IRB Malaysia ...
What is CP38 - SQL Payroll
What is CP38?
SQL Payroll
LHDN
CP38 is an additional tax deduction issued by LHDN. CP38 requires the employer to make additional deductions in the form of monthly instalments from t...
Form TP1, TP2 & TP3 Malaysia
SQL Payroll
LHDN
LHDN has created 3 types of TP forms, It is the employer’s responsibility to ensure that their employees receive TP1, TP2 forms, TP3 is the employee...
What is borang E / form E - SQL Payroll
What is Borang E / Form E ?
SQL Payroll
LHDN
Form E is a declaration report submitted by every employer to inform the IRB on the number of employees and the list of employee's income details ever...
eis malaysia sql
What is Employment Insurance System (EIS)?
SQL Payroll
EIS
EIS is a financial scheme aimed at helping employees who have lost their job, and it is managed by SOCSO. This scheme is meant to enable retrenched wo...
What is PCB Malaysia?
SQL Payroll
LHDN
PCB/MTD is an income tax deduction mechanism from an employee’s current monthly remuneration in accordance with the schedule of Monthly Tax Deductio...
socso malaysia - sql payroll
What is SOCSO (PERKESO)?
SQL Payroll
SOCSO
SOCSO provides assistance both medically & financially to employees that have had their abilities reduced or incapacitated due to accidents or disease...
What is KWSP - SQL Account & SQL Payroll
What is EPF (KWSP)?
SQL Payroll
KWSP
A portion of an employee’s salary and employer’s contribution on behalf of their workers. Every company is required to contribute EPF for their st...
What is Benefits In Kind (BIK)?
SQL Payroll
LHDN
BIK are non-cash benefits provided by employers to their employees and are treated as income of the employees
What is HRDF?
SQL Payroll
HRDF
The Human Resources Development Fund (HRDF) is a pool of funds that consists of Human Resources Development levies collected from employers of the man...
What is EA Form / Borang EA?
SQL Payroll
LHDN
EA form is a Yearly Remuneration Statement for private employees that includes your salary for the past year. EA form is used for the filing of person...
sql-cp22
From CP22 VS CP22A
SQL Payroll
LHDN
Income Tax CP22 is a form that has to be submitted by the employer to notify LHDN on the newly recruited employees, where else, income tax form CP22A ...
Payroll Contributions For Foreign Workers

A must-know about the obligatory contributions for foreign workers in order to comply with Malaysian statutory bodies’ rules and regulations to avoid heavy monetary fines.

SQL Payroll
EIS
HRDF
KWSP
SOCSO
KWSP Borang A, SOSCO, LHDN PCB Submitted but found mistake, how to resubmit second time?

SQL Payroll
KWSP
LHDN
SOCSO
Rental income not deductible expenses LHDN tax rate

What are the 3 taxation traps if you own property for rental income?

SQL Payroll
LHDN

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