The chair for ASEAN for 2015 is the third largest economy in Southeast Asia. Known for it’s abundance of resources especially oil and gas, Malaysia has today become an export-driven economy spurred on by high-technology, knowledge-based and capital-intensive industries. It is an attractive regional hub for services for ICT, Islamic finance and logistics. Due to it’s central location, Malaysia is ideal for expansion of business within ASEAN.
The registration of business can be done at any SSM counters or via the e-Lodgement services. There are several types of businesses in Malaysia
For more info visit :http://www.ssm.com.my
There are several types of employment that is recognized :
RM900 per month for Peninsular Malaysia and RM800 per month for Sabah, Sarawak covering both the local and foreign workforce, except for domestic helpers and gardeners.
The minimum number of annual leaves for employees working less than 2 years in a company is 8, 12 days if more than 2 and 16 if 5 years and more.
A required form of retirement fund. Employers will contribute 12% value of base salary while employees will contribute 11%. For expatriates and foreign workers, employers will contribute RM5/per person and 12% of their base salary will be contributed to the fund.
For more info visit :http://www.mohr.gov.my/
The Inland Revenue Board of Malaysia (LHDN) under the Ministry of Finance is the main agency that enforces taxation for the government.
Malaysian Sdn. Bhd. companies under the new 2015 corporate taxation rate for companies of resident status are as follows:
Nett profit below RM 500,00 – 19%
Every additional RM 1 – 25%
For non resident status companies the tax would be flat at 25%
For more info visit :http://www.hasil.gov.my
Recently implemented on 1 April 2015 GST is charged on the supply of Goods & Services with a standard rate of 6% and enforced by the Royal Customs Malaysia. GST can only be levied and charged if the business is registered under GST with an annual turnover of taxable supplies does not reach the prescribed threshold of RM 500,00.
For more info visit :http://www.gst.customs.gov.my