How new companies are assessed

Related Topics: | Tax Advice | Tax Administration |

How new companies are assessed?

Tax estimates:

All new companies are required to submit an estimate of tax for the 1^st year of assessment (for YA 2000, current year assessment), but unlike existing companies, there is no minimum requirements. The estimate is to be furnished in the prescribed from (Form CP204) within 3 months from the date of commencement of operations. A new company may revise its tax estimates in the 6^th month of its basis period.

Instalment payments:

For a new company, the period for payment of instalments in the 1^st year of assessment is equal to the length of its basis period and instalments commence from the 6^th month of the basis period.

I want help FreeAdvice

Please contact Alvin For Advertising & Sponsorship Information

FINMART FreeAdvice® is the leading business advisory site for business people doing business in Malaysia. It provides advice relating to most common business problems and to help business people to understand the way how business should be properly conducted, but is not a substitute for personal business advice from the respective professional and experts. You are welcome to view FINMART FreeAdvice® for your own personal, non-commercial purposes, and subject to our legal disclaimer and conditions of use.