TAX SERVICES
Tax Services
Services Offered By Our Associates:
LH Loo Taxation Services Sdn. Bhd.
(326049-V)
In Malaysia, taxes are assessed on a current year basis and follow a self-assessment system for all taxpayers. There are two categories of taxes: direct taxes and indirect taxes, outlined as follows:
Direct Taxes
- Income Tax
- Real Property Gains Tax
- Petroleum Income Tax
Indirect Taxes:
- Sales and Services Tax (SST)
- Excise Duty
- Customs Duty
- Stamp Duty
Malaysia operates a territorial taxation system, meaning that all income earned in or derived from Malaysia is subject to taxation.
Income tax is a direct tax governed by the Income Tax Act of 1967. The Malaysia Inland Revenue Board (MIRB) oversees the administration of direct taxes in the country.
In Malaysia, Real Property Gains Tax (RPGT) applies to gains from the disposal of real property. RPGT is also imposed on the sale of shares in real property companies (RPCs).
Petroleum Income Tax is governed by the Petroleum (Income Tax) Act of 1967 and is applicable to petroleum operations conducted in Malaysia.
Tax services encompass:
- Corporate and individual tax compliance.
- Tax advisory and planning.
- Assistance with tax audits, including desk audits and field audits.
- Targeted engagement on tax incentives.
- Withholding tax services.
- Transfer pricing documentation
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LH Loo Group
L.H. Loo & Co.
(AF: 0903)
LG & Partners PLT
(LLP0015185-LCA & AF 002262)
LH Loo Taxation Services Sdn. Bhd.
(326049-V)