In the business environment, each and every business decision has its taxation implications. A successful business must have an effective tax strategy that takes advantage of tax incentives and avoids penalties due to non-compliance. A well prepared tax planning will help the business reduce its tax liability, thereby increases its profitability.
Malaysia corporate tax rate stands at 24%, while SMEs with chargeable income less than RM 500,000 enjoy lower tax rate at 19%. Thus, it is critical for companies to engage a professional tax agent to examine and optimize the tax position of the company.
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