Save Up to RM60,000 Tax Rebate by Starting A New Company in Malaysia (Only for 2021)

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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:

  1. How does this tax rebate work for new company formation in Malaysia
  2. How can a new company qualify for this?
  3. What are some examples of direct cost / capex for SMEs?
  4. Besides this 60k tax rebate, there is also a new tax deduction for renovation cost. How can a company qualify for this renovation deduction?
  5. 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/

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