100 Ways to Save Tax in Malaysia for Partners and Sole Proprietors

100 Ways to Save Tax in Malaysia for Partners and Sole Proprietors focuses on tax implications and planning opportunities for persons carrying business and professional activities as partners or sole proprietors. It is written in a friendly style to help you to plan your affairs effectively so as to minimise the burden of tax. Full of valuable ideas, this book provides advice on how the incidence of tax can be limited within the ambit of the law as well as how the tax regulations should be complied with so as to avoid costly penalties.

This book explains the opportunities to obtain relief for capital allowances and losses, details the working of the exemption for increased exports of services, instructs on the taxpayer’s duty to withhold tax on payments to non-residents and how to avoid the costly consequences of getting it wrong, examines the tax features of special kinds of income and receipts, and illuminates the mysteries of tax audits. It reviews the opportunities for partners and sole traders to make important decisions that may result in substantial tax savings and considers the tax implications of everyday issues for small traders. It also describes the rights of taxpayers to appeal against an assessment and to rectify innocent errors.

Besides the detailed coverage on various aspects of income tax, this book clarifies the complexities of sales tax, service tax and the pending goods and services tax and provides guidance on how to avoid penalties for non-compliance.

Regardless of whether you handle the tax affairs of your business yourself or retain the services of a tax agent, there is something of interest for you in this value-packed book. The important pointers contained in this book will ensure that your business is organised in a tax-efficient manner and enable you to plan more effectively with your tax advisers.

Readership

Partners, sole proprietors, tax practitioners, consultants and the general public