Tax Services

Smarter tax planning.
Effective tax solutions.

Tax is an unavoidable fact of life – Everybody pays tax, and businesses pay a wide range of taxes. Everyone wants to save money on their tax and wishes someone would do the paperwork for them.

Generally, people employ tax advisors to:

  • know tax law
  • find creative ways to save money
  • do all the calculations
  • do the paperwork
  • …and explain what they’re doing in simple terms
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How It Works

What roles are Credo in tax?

We have 2 main roles: Compliance and Advisory. Our teams listen closely to your needs and respond quickly with insightful solutions. You can rely on the hands-on attention of our skilled and knowledgeable partners for year-round discussion and consultation—as well as a dedicated accountant searching for solutions that work to your advantage.

Tax Compliance

(or Tax Preparation) is the nitty gritty of tax – the paperwork.

Preparing your own income tax return can be a nightmare that leaves you with more questions than answers. Don’t chance your business well-being by delaying taxes or sift through hundreds of Google search results on your own to calculate your tax amount. A lack of expertise with proper care can cost you dearly.

However, working with a tax professional can take the guesswork out and ensure that you keep pace with ever-changing tax requirements.

Tax Advisory

is the problem-solving side of the tax business.

Tax regulations change frequently. Strategies that reduced taxes yesterday may not work today. New opportunities to save money could be missed – especially as you enter new markets.

We make sure your businesses are tax-efficient (simply put, we find ways for our clients to pay the minimum tax possible). It means knowing tax regulations inside out and being able to take advantage of all the available tax structures, tax reliefs and incentives to save your tax.

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

What we can do for You

We optimise your tax position with practical solutions

Almost all business transactions have tax implications. Successful companies consider tax implications before they make business decisions, so they do not pay more than their legal obligation.

As such, we play a key role in business decision-making and clients value our close involvement. Tax involves far more than just filling out forms and submission to the tax authorities. Client’s needs are our concerns so that they can count on us when major decisions are made.

Our tax services include:

Corporate Tax

All companies in Malaysia must file and pay their annual income tax, within 7 months (or 8 months by e-filing) of the company’s financial year end.

Compliance

  • Preparation and filing of annual tax returns – Form C, Form CP204/ CP204A, Form E.
  • Assistance on tax audits and investigations
  • Tax appeal and dispute resolutions, including submission of appeal (Form Q)
  • Application for tax refunds
  • Voluntary disclosures of errors/ negligence

Advisory

  • Corporate tax planning review to maximise tax savings
  • Explore and assist with the application for tax incentives, reliefs or grants, such as pioneer status, MSC status, investment tax allowance
  • Tax efficiency review of:
    • Business structure, financing arrangements, transactions, agreements
    • Group structure – repatriation of profits, group relief, group rationalisation
    • Mergers and acquisitions, takeovers
  • Advice on cross-border transactions or investments
  • Advice on double tax treaties

Personal Tax

Individuals who derive income from Malaysia must file and pay their annual income tax either by 30 April or 30 June of the following year, depending on whether he/she is carrying on a business.

Compliance

  • Preparation and filing of annual tax returns:
    • Form B: Sole proprietors/ self-employed persons
    • Form BE: Salaried employees, without earning business income
    • Form P: Partnerships
    • Form M: Non-resident individuals
    • Form CP502: Revision to tax estimates
  • Assistance on tax audits and investigations
  • Tax appeal and dispute resolutions, including submission of appeal (Form Q)
  • Application for tax refunds
  • Voluntary disclosures of errors/ negligence
  • Tax clearance for expatriates

Advisory

  • Application for tax incentives, reliefs or grants
  • Maximise capital allowance claims and tax deductions
  • Tax efficiency review of business structure, financing arrangements, transactions, agreements
  • Tax planning on remuneration packages to enhance tax efficiencies
  • Tax equalization & protection calculations
  • Advice on employment-related tax matters, such as PCB, stock option plans

Withholding Tax (WHT)

Withholding tax is the tax withheld by the taxpayer who resides in Malaysia when making a payment to a non-resident.

  • Preparation and filing of withholding tax return (Form CP37)
  • Attend to tax queries raised by the LHDN
  • Advice on withholding tax deductions and exemptions
  • Guidance to avoid double tax

Transfer Pricing (TP)

Taxpayers who they have entered into related party transactions are required to prepare Transfer Pricing Documentation to determine whether the related party transactions have been conducted on an arm’s length basis.

  • Preparation of transfer pricing documentation
  • Transfer pricing compliance reviews (“Health checks”)
  • Support in transfer pricing audits
  • Guidance on compliance requirements of transfer pricing
  • Transfer pricing planning to minimise tax burdens
  • Transfer pricing strategy setting

Other Tax Services

RPGT

RPGT is chargeable on profit made from the sale of your land, real property or shares in real property company, where the resale price is higher than the purchase price.

Stamp Duty

Stamp duty is chargeable on instruments (ie. written documents such as memorandum of transfer, loan agreement, partnership agreement and rental agreement), not on transactions.

Import Duties

Import duties are imposed on taxable goods imported into Malaysia.

Export Duties

Export duties are imposed on the main commodities produced in Malaysia for revenue purposes, such as petroleum and palm oil.

Excise Duties

Excise duties are imposed on a selected range of goods manufactured in or imported into Malaysia, including beer and liquor, cigarettes containing tobacco and motor vehicles.

Tourism Tax

A tourism tax is imposed at a fixed rate of MYR10 per room per night applicable to foreign tourists staying at any accommodation premises (ie. hotels, inns) in Malaysia.

  • Assist in the preparation and submission of documentation required
  • Assist in any technical disputes with the LHDN or RMCD
  • Review of agreements and transactions for tax implications
  • Managing audits and investigations

How we prepare your taxes

Our simple 4-step Tax Preparation Process:

STEP
1

We Collect

We’ll need a record of income and expenses, a record of deductions, etc. This can be a stressful and difficult task for you, especially if you have no accounting knowledge.

But if you have sign up our bookkeeping service, you can ignore this step and jump to 2nd – as our accountants will have kept track of all important records throughout the year, so it’s all accounted for in the coming tax season.

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STEP
2

We Prepare

This is where the magic happens. Our accountant gathers additional information from you to uncovers all the best opportunities for tax savings in the process of preparing your tax return.

STEP
3

You Approve

Our accountant completes your draft tax return and sends it to you for review and approval. You only pay us after your draft tax return is complete.

STEP
4

We Submit

Once you make your payment, our accountant will file your taxes on time and you can relax. In fact, you can breathe easy for the rest of the year, too – we will keep you posted on important tax updates that affects your business.

Tax Packages

Corporate Tax

Form C (Sdn Bhd) / Form PT (LLP)

Dormant Company / LLP

Active Company / LLP (if you engage our accounting services)

Active Company / LLP (if you do not engage our accounting services)

Fee List

from RM 500

from RM 800

from RM 1,000

What're included?

  • Income Tax Computation and Supporting Schedules
  • Filing of Form C (Sdn Bhd) / Form PT (LLP)
  • Filing of Form CP204/CP204A (Tax Estimate)
    FOC if you engage our standard package. However, extra charges are applicable if you need our assistance to prepare the provisional income tax computation for the purposes of filing Form CP204/CP204A.
  • Tax Planning & Advisory on General Compliance Matters
  • Timely Updates on Latest Tax Developments

Need more?Additional services you may need

Additional Services:

Rental Income
When you rent out properties in Malaysia and earn rental income.
 RM 100 /rental unit
Form E
Employer’s Return of Remuneration – An employer must submit Form E to the IRBM by 31st March every year.
 from RM 300 /year
Form EA
Employee’s Statement of Remuneration – An employer must prepare and distribute Form EA to his/her employee by the last day of February every year.
 from RM 50 /employee
Form CP204/ 204A
Form CP 204 – Tax Estimate; Form CP 204A – Tax Estimate Revision.
 from RM 200
Form CP58
Statement of monetary and non-monetary incentive payment to an agent, dealer or distributor.
 from RM 300
Registration of Income Tax Number (C & E Number)
When your company is newly incorporated.
 RM 200 /one-off
Attending to Tax Queries raised by the IRBM
To avoid a situation where a routine query from IRBM is escalated to a full scale investigation, our team would advise you with your reply to IRAS and ensure that necessary disclosure is made before it is too late.
 from RM 300 /reply
Assistance on Tax Appeal (Form Q)
When you disagree with the IRBM’s assessment, an appeal must be made by submitting a Form Q with reasonable grounds, within 30 days of the issue of a notice of an assessment.
 CUSTOM QUOTE
Assistance on Tax Audits & Investigations
When you need our support to deal with the IRBM on matters relating to tax audits & investigations.
Application for Tax Incentives
Examples, Pioneer Status, Investment Tax Allowance, R&D incentives, incentives for qualified biotechnology companies.
Transfer Pricing
All companies with intercompany transactions must prepare/update their transfer pricing documentation on an annual basis.

Personal Tax

Individuals

Income Tax Returns

Form B

For resident individual running business (ie. Self-employed)

From P

For business owned by 2 or more partners.

From M

For non-resident individual running business.

Form MT

For non-resident individual (Knowledge/Expert Worker) running business.

Form BE

For resident individual without running business (eg. salaried employee, director working under own Sdn Bhd).

Form BT

For resident individual (Knowledge/Expert Worker) without running business.

Form M

For non-resident individual without running business.

Form MT

For non-resident individual (Knowledge/Expert Worker) without running business.

Fee List

from RM 600

from RM 300

What're included?

  • Income Tax Computation and Supporting Schedules
  • Filing of Income Tax Return
  • Tax Planning & Advisory on General Compliance Matters
  • Timely Updates on Latest Tax Developments

Need more?Additional services you may need

Additional Services:

Rental Income
When you rent out properties in Malaysia and earn rental income.
 RM 100 /rental unit
Form E
Employer’s Return of Remuneration – An employer must submit Form E to the IRBM by 31st March every year.
 from RM 300 /year
Form EA
Employee’s Statement of Remuneration – An employer must prepare and distribute Form EA to his/her employee by the last day of February every year.
 RM 50 /employee
Form CP58
Statement of monetary and non-monetary incentive payment to an agent, dealer or distributor.
 from RM 300
Attending to Tax Queries raised by the IRBM
To avoid a situation where a routine query from IRBM is escalated to a full scale investigation, our team would advise you with your reply to IRAS and ensure that necessary disclosure is made before it is too late.
 from RM 300 /reply
Assistance on Tax Appeal (Form Q)
When you disagree with the IRBM’s assessment, an appeal must be made by submitting a Form Q with reasonable grounds, within 30 days of the issue of a notice of an assessment.
 CUSTOM QUOTE
Assistance on Tax Audits & Investigations
When you need our support to deal with the IRBM on matters relating to tax audits & investigations.