Tax Filing Services in Kuala Lumpur, Penang

Have you ever wondered why some of your peers earn a lot more but pay less in tax? Sometimes you even wondered if they are evading tax. However, being a law abiding and responsible Malaysian, you have also been paying a lot of taxes but not sure how you can avoid.
Truth is, there are 5 things you should know about when filing your taxes.

1. Just because you don’t know, doesn’t mean it’s not there. A lot of things can be deducted in your tax filing legally. They are not often as straight forward as it shows in the tax form, engage a trained tax planner and he/she will show you how to strategically plan your upcoming tax.
2. Not all CPA holders and charted accountants know strategic tax filing. Be sure you ask about the tax planner background and if he / she is familiar with current tax law.
3. Don’t do it last minute. If you walk into a tax planner middle of late April, chances are you are getting your tax refund slower. Your tax planner needs time to look through and plan it carefully. Allow them as much time as possible, it’s better for all parties.
4. Investors? Dividends and interests may be taxed. We have seen it again and again that people get into trouble because they “don’t know” about what side-income are subject to be taxed by the government.
5. Be very careful with GST. GST was implemented in Malaysia during April 2015. There are constant updates about the tax policies and be sure you’re aware about it. Not fulfilling or failure to complete GST declaration may get you fined unto RM500k.

Over the years we are actively putting our necks out there to build personal branding. We aim to solve the people’s common problem about finance. It has been a huge satisfaction to us seeing happy clients at the end of the day, because we know that we had made a difference and put a smile on them.
This is a story of a contractor in Penang, Mr. Wong. Mr. Wong is a reputable contractor in Penang – Perak, where he has been commissioned to build shophouses, bird-nest buildings, warehouses and countless renovations. When he first started his business, he was paying up to 40% of his revenue. Though he earned a lot, the mounting taxes was heavy as well. One day his friend told him about strategic tax planning and he engaged an accountant and trained tax planner to help him. To his pleasant surprise, after a some changes he made on his business, his effective tax paying went less even he has expanded his company and cover more locations.
Feel free to engage our staff and ask for a meeting if you’re looking forward to do smart tax-paying. In OneAccounting we offer corporate tax consultant, personal tax filing, and also GST registration service. It’s always better to start now then rushing to do everything when the dateline draws nearer.

Contact us at sales@accountingmalaysia.com  for a free, no obligation first time consultation with our friendly staff now.