Welcome to Our FAQ Section

Got questions? We have answers! Explore our FAQ section to find the information you need about our accounting and tax services. We’re here to clarify any uncertainties and help you navigate through financial queries with ease.

Your Questions Answered

What is the personal income tax rate in Malaysia for 2026?

We provide comprehensive bookkeeping services including: transaction recording, bank reconciliation, accounts payable/receivable management, payroll processing, and financial statement preparation. Our services are tailored to your business needs.

When is the deadline?

For individuals (Form B), the filing deadline is 30 June each year, with an extension available until 15 July. For businesses (Form BE), the deadline is 30 April, extendable to 15 May. Late filing may result in penalties.

What are common deductions?

Common deductions include: personal relief (RM9,000), spouse relief (RM9,000), child relief (RM3,000 per child), education fees, medical expenses, life insurance premiums, and contributions to approved funds. Keep proper documentation for all claims.

Is GST still applicable?

GST (Goods and Services Tax) was replaced by SST (Sales and Service Tax) in September 2018. SST consists of Sales Tax (on goods) and Service Tax (on services). The rates vary by product/service type.

Do I need to file taxes if I earn below the threshold?

Even if your income is below the threshold (RM35,000 for 2026), you may still need to file if you have other income sources, are self-employed, or have tax deductions to claim. It’s best to consult with a tax professional.

What bookkeeping services do you provide?

Malaysia uses a progressive tax system. For the 2026 Assessment Year, the tax rates range from 0% for income below RM35,000 to 30% for income above RM1,000,000. The exact rate depends on your total income and applicable deductions.

How often should I reconcile my accounts?

We recommend monthly account reconciliation to ensure accuracy and catch errors early. For businesses with high transaction volumes, weekly or even daily reconciliation may be beneficial. Regular reconciliation helps maintain accurate financial records.

What documents do I need to provide for accounting services?

You’ll need to provide: bank statements, invoices, receipts, payroll records, expense documentation, and any other financial records. We can guide you on proper documentation practices to ensure smooth accounting processes.

What documents do I need to provide for accounting services?

You’ll need to provide: bank statements, invoices, receipts, payroll records, expense documentation, and any other financial records. We can guide you on proper documentation practices to ensure smooth accounting processes.

What is an audit mandatory in Malaysia?

Companies must conduct an audit if they meet certain criteria: annual revenue exceeding RM35 million, total assets exceeding RM20 million, or if required by their constitution. Some companies choose voluntary audits for credibility and stakeholder confidence.