Service Tax Group G Item 8 - Information Technology Services (Updated on 13.07.2020)
- Details
- Category: Malaysia News
- Information Technology is the Use of Any Computers, Storage, Networking and Other Physical Devices, Infrastructure and Processes to Create, Process, Store, Secure and Exchange All Forms of Electronic Data
- Charges: Service Tax on the supply will be charged at the point of services rendered
- IT Services:
- Computing Services;
- Coding and Programming;
- Application Development;
- Software Development;
- System Integration;
- Web Development;
- Online Platforms (Effective 1 January 2020, for the purpose of service tax, any person who operates online platform is considered a taxable person under Item 12, Group G: Professionals in the First Schedule of the Service Tax Regulations 2018);
- Networks Integration;
- Data Processing and Administration;
- Cloud Services;
- Artificial Intelligence;
- Internet of Things
- Taxable Services:
- Provision of software by the software developer;
- Services relating to the development, customization or provision of computer system (computer system refers generally to IT equipment and software that works together to perform some specified functions);
- Installation or setting up of computer system;
- Installation of software into hardware;
- Software support and maintenance;
- Periodic payments, subscription or maintenance for continued use and updates website related services, (eg development, customization, maintenance of webpage, websites, web portal and online platforms);
- Updating to new version, upgrading or modification of data, system or software;
- Provision of cloud services;
- Managed data centre services (eg managed service, connection charges);
- Digital data services delivered through the internet;
- Administrative fee for data, system or software;
- IT advisory or consultation in relation to data and systems (hardware and/ or software)
- Management on IT;
- Training services (subject to service tax under Consultancy Services effective 1 January 2019)
- Physical security of hardware or server
- Maintenance management hardware
- Not subject to Service Tax
- Charge on storage or co-location of hardware or server;
- Leasing or rental of computer, hardware and server;
- Assembly of computer, hardware or server
- Exemption from Payment of Service Tax on ITS Received
- The service that is exempted is an ITS, not other services received by ITS provider;
- ITS provider who is the recipient of such ITS must be a registered person;
- The ITS is provided by an ITS provider who is a registered person
Promotion - Free First Year Company Secretary Fee
- Details
- Category: Malaysia News
To react to the Penjana program, we are now free of Corporate Secretarial service charge (for the first year) when engaging our incorporation service in Malaysia 为了响应政府的经济复兴计划，我们将免除公司秘书费 （第一年）给予选择我们公司注册服务的公司
* Terms and Conditions Applied 须符合条规
Promotion Until 31 December 2020 优惠直到31/12/2020
Free Corporate Secretarial Service Including:
- Acting as named corporate secretary for the company 担任公司的指定公司秘书
- Preparation of common minutes and resolutions 准备一般的会议记录及决议
- Opening a corporate bank account 开设公司银行账户
- Bank facility 银行贷款
- Purchase of property or motor vehicle 购买产业或机动车
- Resolution of Issuance of Dividend 分派股息
- Routine advice on matter pertaining to the Companies Act requirements and company secretarial practice
- Common changes are also inclusive into our corporate secretarial service fee 一些基本的改变也是包含在我们的公司秘书费内
- Change of Director’s and Shareholder’s Particulars (i.e. residential address, passport) 公司董事及股东资料的更换（例如住家地址以及护照号码）
- Change of Business Address 公司地址的更换
- Provision of registered address service in compliance with Section 46 and Section 47 under Companies Act 2016:
- To receive all communications and notices on behalf
- Opening to the public during ordinary business hours
- Keeping the following documents in the registered office:
- Notice of registration issued under Section 15
- The constitution of the company
- Certificates given under Companies Act or corresponding previous written law, if any
- All registers, book, records and documents as required under Companies Act 2016
- Minutes of all meetings of members and resolutions of members
- Minutes of all meetings and resolutions of the Board and committees of the Board
- Copies of all written communications to all members or all holders of the same class of shares
- Copies of all instruments creating or evidencing charges as required under Section 357
- Such other documents required to be kept by the Registrar
- We locate in Singapore and Johor Bahru 我们位在新加坡和新山
- We can send all documents to our Singapore office for collection if the directors and shareholders are unable to come our JB office due to the lockdown between JB and SG boundary 由于防疫期间不能自由进出新加坡及马来西亚，我们能够把文件送至我们新加坡办公室，让公司董事及股东在我们新加坡办公室领取文件
Tax Rebate: https://www.ycsaccounting.com.sg/latest-news/malaysia-news-2/358-tax-rebate-for-newly-incorporated-smes
Company Registration: https://www.ycsaccounting.com.sg/latest-news/malaysia-news-2/359-company-registration-in-malaysia
Company Registration in Malaysia
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- Category: Malaysia News
Sole Proprietorship | Partnership | Limited Liability Partnership | Limited Company (Sdn Bhd) |
Owned by 1 individual | Jointly owned by 2 – 20 individuals Equal rights for managing the business | Owned by at least 2 individuals | Owned by 1 – 50 shareholder(s) The ownership is transferable |
Creditors can sue the owner for all debts the business owed | Creditors can sue all partners of the business for all debts the business owed | Members’ personal assets are protected from liabilities | Liabilities borne by director or shareholder are to the extent of unpaid shares only |
Less paperwork and less additional legal formalities (compare to LLP and Sdn Bhd) | Less paperwork and less additional legal formalities (compare to LLP and Sdn Bhd) | Must lodge annual declaration and solvency statement with SSM | Must file Annual Return and Financial Statement every calendar year |
No need to be audited | No need to be audited | Not compulsory to be audited | Required to be audit |
The business will be terminated if the owner died | The business continuity will be affected if one of the partners died | The company will exist even if the partner passed away | The company will exist even if the key director/ shareholder passed away |
Cannot enjoy the preferential tax rate given for small companies | Cannot enjoy the preferential tax rate given for small companies | Preferential tax treatment on first RM500,000 of chargeable income | First RM500,000 : 17% Subsequent : 24% If Paid Up Capital less than RM2.5 Million |
- Advantages of a SDN BHD
- Personal wealth protection 个人资产的保护
- Continuous existence 持续的存在
- Transferable ownership 可转让所有权
- Lower tax rate 较低的税率
- Higher tax saving 更高的节税
- Foreigner is also allowed for set up a SDN BHD 外籍人士也能注册公司
- Personal Wealth Protection
- The liability of its members is limited to the amount, if any, unpaid on shares held by the members only 其成员的责任仅限于由成员持有的股份未支付的金额（如有）
- A company incorporated under Companies Act 2016 is a body corporate and shall 注册于2016年公司注册法的公司是一个法人团体
- Have legal personality separate from that of its members 法人资格与其成员的独立
- Continuous Existence
- A company incorporated under Companies Act 2016 is a body corporate and shall continue in existence until it is removed from the register
- The company will exist even if the key director/ shareholder passed away 即使主要的董事或股东过世了，其公司还是存在的
- Tax Rate
- Tax rate for an enterprise will be based on personal income tax rate while for a private limited company (SDN BHD) will be based on company tax rate 企业（独资经营者或合伙经营者）的税率是根据个人所得税的税率而私人有限公司的税率是根据公司的税率计算
- Shareholder can declare dividend while director can receive director’s fees or director’s remuneration
- For a SDN BHD, shareholder can take out profits from the company (provided that the company is solvent) 股东能够从利润中宣派股息
- Director can also receive salary from the company 董事也能领取薪水或董事费
- All these will be seem as drawing for an enterprise
Tax Rebate: https://www.ycsaccounting.com.sg/latest-news/malaysia-news-2/358-tax-rebate-for-newly-incorporated-smes
Malaysia Tax Rebate for Newly Incorporated SMEs
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- Category: Malaysia News
To stimulate business activities, the newly formed SMEs are given income tax rebates of up to RM20,000 for each year of assessment for the first 3 years of assessment subject to conditions 新注册的中小型企业的税务折扣
Beneficiary: SMEs Incorporated within 1 July 2020 to 31 December 2021 于01/07/2020至31/12/2021注册的中小型企业
Conditions 条件
- SMEs registered under the Companies Act 2016 注册于2016年公司法令;
- Paid-up capital of RM2.5 million and below with annual sales not exceeding RM50 million per annum 实收资本不高于250万令吉以及年销售额不超过5千万令吉;
- The amount of rebates is the capital expenditure or operating expenses incurred in each year of assessment subject to a maximum value of RM20,000 per year of assessment 回扣金额为每一课税年度资本支出或运营费用，最高回扣为2万令吉;
- Unused tax rebates cannot be carried forward to the next year of assessment for tax deduction purposes 使用的限额不能结转到下一个课税年度;
- This new entity must use separate plants, equipment and facilities and not transfer from existing or related companies 这个新公司不能从现有或相关的公司转移工厂，设备和设施; and
- Other conditions will be set
We are providing incorporation service and are launching promotion for the newly incorporated company. Please feel free to contact us at +607 - 225 4911 should you need any furhter clarifications. 我们有提供公司注册服务，并正在进行促销。若有任何疑问，欢迎致电我们。谢谢
Company Registration: https://www.ycsaccounting.com.sg/latest-news/malaysia-news-2/359-company-registration-in-malaysia
Wage Subsidy Program (Updated on 09/06/2020)
- Details
- Category: Malaysia News
Government has expanded the Wage Subsidy Program (WSP) on the Penjana and Perkeso has announced the updates on 09/06/2020.
- ERP will be combined under PSU since 15 June 2020 从6月15号起，ERP正式与WSP结合
- The expansion of WSP includes those employees who have been requested to take the unpaid leave (provided that they work in the tourism sector or those sectors that are involved in economic activities that are still prohibited during the RMCO period) 此WSP的扩展包括被雇主要求请无薪假的员工（仅限于旅游业或是在RMCO还被禁止复工的领域）
- The employer may apply WSP provided that the employee receives direct subsidy payments 但是雇主必须直接把所领取的WSP给员工
- Overview:
- Malaysian
- Monthly Salary ≤ RM 4,000.00
- Effective from: April
- Last Application Date: September
- Subsidy Period: 3 months + 3 months
Company Size | 1 – 75 Employees | 76 – 200 Employees | >200 Employees |
Subsidy (First 3 Months) | RM1,200 per employee | RM800 per employee | RM600 per employee |
Subsidy (Additional 3 Months) | RM600 per employee | RM600 per employee | RM600 per employee |
Drop in Revenue | No income conditions specified | Decreasing at least 50% revenue compare with January 2020 or the following months | |
** The definition of Enterprise Size is based on the total number of Malaysian and non-citizen workers 雇员数量包括外籍员工
- Conditions:
- Employers and employees must register and contribute to Perkeso before 1 April 2020 雇员及雇主需要于4月1号之前注册并呈报Perkeso (SOCSO & EIS)
- Registered with SSM or other local authorities before 1 January 2020 于2020年1月1号之前成立
- Commenced business before 1 January 2020 于2020年1月1号之前开始营业
- Shall retain employees for 6 months (3 months while receiving the subsidy and 3 months afterwards) 6个月内不能解雇员工或是减薪甚至要求员工申请无薪假
- Supporting Documents:
- List of employee names;
- Employer's bank account information (Copy of Bank Statement cover only);
- Business Registration Number (BRN) information registered by the employer at the time of opening the bank account;
- Copy of SSM / ROS / ROB / Professional, Scientific or Technical Services / Business License authority;
- Professional, Scientific or Technical / Business License;
- PSU50 Account Declaration (can be download from our company website)*; and
- Supporting documents such as financial statements or sales reports that have been verified by management or other related documents (for those >75 employees)
- If an employee works with Company A and Company B and contributes to SOCSO, both companies are eligible to apply for the Wage Subsidy Program 若某雇员同时在两间公司打工并缴交Socso，那么两间公司都能申请WSP
- The employer will be notified of the status of the application whether approved or rejected by email 申请者将会透过电邮被通知申请结果
- The list of employers who have approved the Wage Subsidy Program application will also appear on the SOCSO website https://www.perkeso.gov.my/index.php/en/wage-subsidy-programme (includes the number of approved employees)
- Employer do NOT need to apply for the following month for the WSP 雇主不需要在接下来的5各月份重新申请
- If there is any changes, employer shall update accordingly 若是有任何更动，雇主需要到该平台更新
- The information shall be tally with those in the Assist portal 所提交的资料必须跟Assist平台的资料一致
- Employee shall start working with the employer before 1 April 2020
