Tax Compliance
Our partner firm (Lesmond Lee Corporate Services & SMT Consulting) is dedicated to helping you fulfill your business tax compliance requirements. We provide guidance on both organizational and individual tax liabilities, entitlements, and ensure that you meet your tax obligations in accordance with taxation laws.
What is Tax Compliance?
Tax compliance in Malaysia refers to the process of ensuring that businesses and individuals adhere to the tax laws and regulations established by the Inland Revenue Board of Malaysia (LHDN). This includes the accurate filing of tax returns, timely payment of taxes, and adherence to other obligations under the Income Tax Act 1967, the Goods and Services Tax Act (if applicable), the Sales and Service Tax Act, and other related legislation. Compliance ensures that all tax liabilities are reported correctly and that businesses meet their statutory tax obligations.
Why Does a Business Need
Tax Compliance?
Tax compliance in Malaysia is essential to ensure businesses meet legal requirements and avoid penalties, audits, and fines. Beyond that, good tax planning can significantly ease a company's cash flow by identifying potential tax-saving opportunities, maximizing deductions, and deferring tax liabilities when possible. By ensuring taxes are filed correctly and on time, businesses can avoid cash flow disruptions caused by unexpected tax liabilities and penalties. Proper compliance helps businesses maintain good standing with the Inland Revenue Board (LHDN) and minimizes financial risks, enabling smoother operations and financial stability.
Our Services Include:
- Preparation and submission of corporate tax returns (Form C)
- Preparation and submission of individual tax returns (Form BE, B)
- Filing of Goods and Services Tax (GST) or Sales and Services Tax (SST) returns
- Tax planning and advisory for tax optimization
- Transfer pricing documentation and compliance
- Tax audits and investigations support
Benefits of Engaged Us!
- Ensures accurate and timely tax filings, reducing the risk of audits
- Helps optimize tax liabilities through proper planning and deductions
- Supports smoother audits and assessments by tax authorities