Save Up to RM60,000 Tax Rebate by Starting A New Company in Malaysia (Only for 2021)
Today we have Alfred from AYKS on the show to discuss how new companies in Malaysia can save up to RM60k in tax rebates.
The areas of discussion include:
- How does this tax rebate work for new company formation in Malaysia
- How can a new company qualify for this?
- What are some examples of direct cost / capex for SMEs?
- Besides this 60k tax rebate, there is also a new tax deduction for renovation cost. How can a company qualify for this renovation deduction?
- For both the new company tax rebate and renovation deduction, what are the steps for companies to claim the rebate/deduction?
Further Tax Rebate Details:
-Amount of rebate is based on Company capital expenditure and operating expenditure incurred in each Year Assessment (YA)
-Maximum of RM20,000 for each YA -For 3 Consecutive Years from commencement of operation
-Any unutilised rebate cannot refund and not allowed for carried forward to next YA.
Conditions :
✓ Resident and incorporated in Malaysia
✓ Commenced operation: 01.07.2020 – 31.12.2021
✓ Small and Medium Enterprise Definition:-
✓ Paid up Capital / Capital Contribution: Not more than RM2.5 million
✓ Gross Income: Not more than RM50 million
Guest on the show > https://isearch.com.my/business/ayks-management-services/
Click here for the full list of accounting firms in Malaysia https://isearch.com.my/accounting-firm-malaysia/
