What Is It?
This covers two related but distinct obligations for Malaysian companies:
- Statutory audit — under the Companies Act 2016, companies must prepare audited financial statements unless they qualify for an exemption.
- Corporate tax filing — annual Form C submission to LHDN (Inland Revenue Board), reporting your company's income and tax payable.
Audit exemption and tax filing
Do You Actually Need an Audit?
Not necessarily. Under SSM's Practice Directive 10/2024, a private company can be exempt from appointing an auditor if it meets at least two of these three criteria, for the current financial year and the two immediately preceding it:
- Annual revenue does not exceed RM3,000,000
- Total assets do not exceed RM3,000,000
- Number of employees does not exceed 30
Even if you're exempt from audit, you still need to prepare unaudited financial statements in accordance with approved accounting standards, and lodge them with SSM — together with the directors' report, statement by directors, and an Audit Exemption Certificate — within 30 days of circulation. We can help either way: confirming your exemption status, or arranging the audit itself.
This is general information, not a determination of your company's specific eligibility — exemption status depends on your actual financials over the relevant years. We'll confirm your position during a consultation.
Corporate Tax Filing
Form C is due 7 months after your financial year end for manual filing, or 8 months for e-Filing (mandatory for essentially all companies going forward). It must be filed even if your company had no income for the year. SMEs may qualify for preferential tax rates on a portion of chargeable income, subject to eligibility criteria — we will confirm what applies to you.
Pricing
Personal Tax Filing
Our partner accountants also handle personal income tax returns. The form you need depends on your income type:
Documents required
- Form EA from employer (issued by 28 February)
- Receipts for any tax relief claims
- Personal identification and MyTax login details
Documents required
- Business registration details
- Income records (invoices, sales reports)
- Expense receipts
- Bank statements
- Prior year's filing, if available
Documents required
- Profit & loss statement and balance sheet
- Partner details (names, IC numbers, profit-sharing percentages)
- Partnership tax reference number and business registration details
Not sure which form applies? Contact us and we'll confirm what you need.
Frequently Asked Questions
You need to meet at least 2 of the 3 criteria above (revenue, total assets, employee count) for the current and past two financial years. Send us your basic financials via the contact form and we will confirm your status.
Dormant companies (no accounting transactions since incorporation, or dormant throughout the current and prior financial year) generally qualify for audit exemption under a separate category. Let us know your situation and we will confirm.
Both are available. Some companies engage us for a single year's filing, others prefer an ongoing arrangement so deadlines are never missed. We will discuss what fits during your consultation.
Yes, our partner accountants can assist with personal income tax filing (Forms BE/B/M) alongside your corporate tax needs — mention this when you get in touch.
Not Sure What You Need?
Tell us about your company and we'll confirm what applies — audit exemption, tax filing, or both.
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