Malaysia
Our Services in Malaysia
Accounting
To be a successful business, it is vital that companies have access to reliable financial information on a timely basis. We take care of your accounts so that you can concentrate on what is important to you – Building your business and generating profits!

Our services include:

  • Setting up computerised accounting system
  • Preparation of monthly, quarterly and yearly management report
  • Bank and other account reconciliation and audit schedules
  • Cash Flow Management & Forecasting
  • Process the payment of employee expense claims and vendor invoices
  • Secondment of staff to assist in accounting work to relieve clients when faced with unexpected staff turnover or staff leave problems
Payroll
We assist companies to process the payroll for their staff.

Our payroll services include:

  • Computation of net salary, overtime, EPF, SOCSO, EIS, PCB and other deductions
  • Preparation of monthly payroll report and computerised pay slips
  • Assist on EPF, SOCSO, EIS and PCB payments
  • Manage staff leave records
  • Preparation of year-end EA Form and Form E

Auditing & Assurance

Our affiliated CPA firm provides auditing services and assurance service for a wide range of industries for small and medium-size enterprise, multinational corporations and subsidiaries of local and overseas listed companies including:
  • Statutory audit
    Our assurance approach does not focus simply on the financial statements of an organization, but also on the organization's business operations. At all times, we are mindful of the auditor's key role as the guardian of shareholders’ interest
  • Internal audit
    Internal audit is a key driver of effective management control, proactive risk management, good corporate governance and ongoing process improvement. Our comprehensive ranges of internal audit solutions include: 
    • Helping organizations develop and implement risk based internal audit methodologies 
    • Helping firms carry out risk assessment evaluation and testing 
    • Advising on the establishment of robust internal control system 
    • Providing specialized additional resource to in-house internal audit departments 
    • Liaising with external auditors in relation to their annual statutory audit procedures 
  • Special audits
    A special audit review entails a comprehensive and objective examination of the business underlying the numbers. It assists management to identify and focus on key areas and issues and provides insights and comfort to them as well as to outside interests.

 

INCOME TAX

income tax

Tax matters can be complicated and confusing. We can eliminate the hassle for you to understand the tax implications of any proposed decision.

Every individual who is liable to tax is required to declare his income to IRBM. The taxpayer is responsible for:

  • Declaring income and claiming expenses.
  • Computing income tax payable.
  • Keeping records for audit purposes.
  • Paying the income tax payable.

Preparation and filing of tax returns – compliance services

  • Form B (Personal tax with business income)
  • Form BE (Personal tax with employment income)
  • Form P (Partnership)
  • Form M (Personal tax for non-resident)

Tax consulting and planning
Tax appeals/refunds

  • Preparation and filing of tax returns – compliance services
  • Tax consulting and planning
  • Tax appeals/refunds

Withholding tax is an amount withheld by the party making payment (payer) on income earned by a non-resident (payee) and paid to the Inland Revenue Board of Malaysia.

'Payer' refers to an individual/body other than individual carrying on a business in Malaysia. He is required to withhold tax on payments for services rendered/technical advice/rental or other payments made under any agreement for the use of any moveable property and paid to a -resident payee.
'Payee' refers to a non-resident individual/body other than individual in Malaysia who receives the above payments.


WITHHOLDING TAX DEDUCTION (DETAIL)
The Income Tax Act, 1967 provides that where a person (referred herein as "payer") is liable to make payment as listed below (other than income of non-resident public entertainers) to a non-resident person ( NR payee), he shall deduct withholding tax at the prescribed rate from such payment and (whether such tax has been deducted or not) pay that tax to the Director General of Inland Revenue within one month after such payment has been paid or credited to the NR payee.

Payment TypeIncome Tax Act 1967Withholding Tax Rate
Contract PaymentSection 107A (1) (a)
& 107A (1) (b)
10%, 3%
InterestSection 10915%
RoyaltiesSection 10910%
Special classes of income: Technical fees, payment for services, rent/payment for use of moveable
property
Section 109B10%
Interest (except exempt interest) paid by approved financial institutionsSection 109C5%
Income of non-resident public entertainersSection 109A15%
Real Estate Investment Trust (REIT)Section 109D 
  (i) Other than a resident company 10%
  (ii) Non Resident company. 25%
  (iii) Foreign investment institution (effective from 01/01/2007) 10%
Family Fund/Takaful Family Fund/Dana AmSection 109E 
  (i) Individual and other 8%
  (ii) Non Resident Company 25%
Income under Section 4(f) ITA 1967Section 109F10%

 

CORPORATE SECRETARIALcorporate secretarial

Our firm provides full range of company secretarial services to our clients who need assistance to comply with the requirements of the Malaysia Companies Act, 2016.

 

COMPANY SECRETARIAL SERVICES FOR BUSINESS OWNER IN MALAYSIAN

Our firm provides full range of company secretarial services to our clients who need assistance to comply with the requirements of the Malaysia Companies Act, 2016.

All companies established in Malaysia are required to have at least one Company Secretary and that company secretary must be a natural person and a resident in Malaysia and is a member of any one of the prescribed professional bodies or licensed by the SSM.

Our monthly secretary fee is between RM 80- RM 100 payable in advance on yearly basis.

Our company secretarial services include:

  • Company Incorporation
  • Preparation of Resolutions, Organising Meetings for Directors
  • Preparation of Annual General Meetings for shareholders
  • Preparation and filing of statutory returns in compliance with the Companies Act
  • Maintenance of Statutory Registration and Record Books
  • Provision of a Registered Office Address at minimal fee
  • Routine advice on matter pertaining to the Companies Act requirements and company secretarial practice
  • De-registration of Company (Striking off) / Liquidation
  • Registration of Limited Liability Partnership

Our fee to register a new Sdn Bhd (Local Company) is RM 2,800.00
** Additional processing fee of RM100 each will be incurred if there are more than 3 directors / shareholders

Requirements & Documents Required for Incorporation

  • A minimum of ONE shareholder
  • A minimum of ONE director
    *The director(s) should have not been convicted or imprisonment or not an undischarged bankrupt.
  • The local director who have the residence address in Malaysia.
  • Age above 18 years old
  • NRIC - Identity card for Malaysian and passport copy for foreigners
  • Completion of our incorporation forms

Duration of Completion

No.EventsDays
1Company name search with SSM Malaysia1-2
2Registration of company1-2
3Released of company docuents1-2
 Total minimum working days required3-6

Note: The above timetable is merely estimated based on YCS’s past experiences dealing with SSM and it is largely subject to any delay from SSM and availability & stability of SSM’s MyCoID online system.

Click HERE to set up your company.

All Malaysian Companies are required to have at least one director who is ordinarily resident in Malaysia. The person should be either a Malaysian citizen or a person who has permanent resident status in Malaysia. If necessary, YCS can provide the necessary qualified personnel to act as your Company Directors to meet the statutory requirements.

Business Consulting & Advisory
Running your own business is extremely exciting and challenging. However, it can easily turn into a nerve-wracking experience. To optimise your profitability potential, strategic business planning is essential to a company.

Our key business consulting and advisory services include:

  • Pre-Incorporation Consultancy
  • Work permits, employment passes, expatriate passes application
  • Applications for various licenses including business license, manufacturing license, Import & Export Approval Permit, LMW license etc
  • General business advisory
Goods & Services Tax
As announced by the Government, Sales and Service Tax (SST) has been implemented on 1st September 2018. To ensure a smooth implementation of SST, businesses are encouraged to submit their application for early registration.

Our SST reporting services including:

  • SST voluntary and compulsory registration
  • SST return preparation and submission
  • Consultancy on SST implementation
  • SST training
When to Register your Business under SST?

 When to Register SST

Click HERE to start Registration of Sales & Service Tax (SST) in Malaysia.

Virtual Office
Imagine having your business address at a prestigious central business district, complete with a professional call answering service, offices and conference/meeting rooms as and when you need them, a support of a dedicated and well-trained staff, at a fraction of the price of a full-time office. Work from home, abroad or another location, yet maintain the support and presence of a professional office.

Just choose any of our 3 well defined plans and gain the edge over your competitors.


PlanClassicGoldPlatinum
Prestigious business addressYesYesYes
Mail NotificationYesYesYes
Weekly Mail ForwardingSelf CollectionYesYes
Shared telephone lineNoYesNA
Dedicated telephone line and receptionistNoNoYes
Free in-coming fax sends via your email10 pages/month20 pages/month50 pages/month
Cheque deposit service2 cheques/month5 cheques/month10 cheques/month
Monthly feeRM80RM120RM180
One time refundable security depositRM160RM240RM360