Bosses and entrepreneurs, it’s time to declare and pay your company tax! 😇
Anyone doing business will want to maximise profits and revenues for sure.
However, when the profit (which is chargeable income) is higher, more
corporate tax needs to be paid. But wait, do you know you can actually do tax
planning to reduce your tax rate? Here are some tips you may refer to and
consider. 🧐 Take advantage of tax incentives: The Malaysian government offers
various tax incentives to encourage investment in certain industries or
activities. These incentives may include reduced tax rates, tax holidays, or
accelerated depreciation. It's worth exploring whether your company qualifies
for any of these incentives. 😁 Claim all allowable deductions: Make sure
you're claiming all the deductions that you're entitled to under Malaysian tax
law. This could include deductions for business expenses such as rent,
utilities, and employee salaries. 🤩 Optimize your business structure:
Depending on your company's size and structure, it may be worth considering
whether a different business structure (such as a limited liability
partnership or a sole proprietorship) could result in lower taxes. 😉 It's
important to note that tax laws and regulations can change over time, so it's
always a good idea to consult with a qualified tax professional before making
any major tax-related decisions. You may ask: “How do I update and equip
myself with all the latest tax updates?” TaxPOD is your best partner to access
all the tax knowledge you need to strategise your tax planning. You can view
all the videos and attend our latest tax update webinars to smoothen your tax-
saving journey! 🥳 Hit the “Book Now” button to request a FREE TaxPOD demo now!
😎
Bosses and entrepreneurs, it’s time to declare and pay your company tax! 😇
Anyone doing business will want to maximise profits and revenues for sure.
However, when the profit (which is chargeable income) is higher, more
corporate tax needs to be paid. But wait, do you know you can actually do tax
planning to reduce your tax rate? Here are some tips you may refer to and
consider. 🧐 Take advantage of tax incentives: The Malaysian government offers
various tax incentives to encourage investment in certain industries or
activities. These incentives may include reduced tax rates, tax holidays, or
accelerated depreciation. It's worth exploring whether your company qualifies
for any of these incentives. 😁 Claim all allowable deductions: Make sure
you're claiming all the deductions that you're entitled to under Malaysian tax
law. This could include deductions for business expenses such as rent,
utilities, and employee salaries. 🤩 Optimize your business structure:
Depending on your company's size and structure, it may be worth considering
whether a different business structure (such as a limited liability
partnership or a sole proprietorship) could result in lower taxes. 😉 It's
important to note that tax laws and regulations can change over time, so it's
always a good idea to consult with a qualified tax professional before making
any major tax-related decisions. You may ask: “How do I update and equip
myself with all the latest tax updates?” TaxPOD is your best partner to access
all the tax knowledge you need to strategise your tax planning. You can view
all the videos and attend our latest tax update webinars to smoothen your tax-
saving journey! 🥳 Hit the “Book Now” button to request a FREE TaxPOD demo now!
😎
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