Feb 24

Borang E YA2014 filing Malaysia

Tax filing for Borang E, i.e. employer’s income return, is lapsing this 31st March for manual submission. Tax filing for Borang BE, i.e. individual income tax with no business income is on 30th April 2015.

For your information, Pusat Pemprosesan Maklumat LHDNM is now at Seksyen 9 of Bandar Baru Bangi. The Pandan Indah premise has closed since late 2013, so don’t head over there for any matter at all. The entire operation is now at Bandar Baru Bangi. Here’s a location map to the new LHDNM office for manual filing purpose:-


Lembaga Hasil Dalam Negeri Malaysia, Jabatan Pemprosesan Maklumat, No.3, Jalan 9/10, Seksyen 9 43650 Bandar Baru Bangi, Selangor Darul Ehsan.

Contact us if you need help in filing of tax returns and learn more about your employment and/or business and its activities and assess if there were any tax planning opportunity for you. We can also assist in bookkeeping services and timely preparation of accounting records within Kuala Lumpur and Klang Valley.

Check out our “No-frills express bookkeeping services!”

Feb 24

Time to do 2015 bookkeeping, Kuala Lumpur!

2015 bookkeeping year of goat2014 has ended and we are into the second month of 2015. It’s time to do your bookkeeping, Kuala Lumpur and Klang Valley!

We, at YerAnt, offer our services to clients from a simple sole proprietorship to very complicated group of unlisted companies. As for departmental outsourcing, there are too many variables such as level of involvement, volume of transactions, actual job scopes. Understanding this, we provide very flexible packages for our clients to decide what is best for them, when considering fees and service. Our list of accounting value-added services include:

  • Bookkeeping and full set of accounts
  • Tax planning
  • Personal taxation computation
  • Corporate taxation computation
  • Consolidation of accounts
  • Bank reconciliation
  • Cash flow statement and analysis
  • Budgeting & Forecasting
  • Financial analysis and advisory
  • Cost management and pricing advisory
  • Payroll accounting with EPF, SOSCO and PCB filings
  • Project accounting
  • Liaising with auditors and tax authorities
  • Total departmental outsourcing for accounting and finance functions

The charges for our services usually depend on the size and complexity of your business. Please find herewith an example of our bookkeeping fee for a small scale business for your reference.

Click here to download.

Sep 13

GST registration & GST accounting and GST compliant accounting software

gst malaysiaWith the deadline of GST registration looming, we have started registering our clients with Kastam using the latter’s online portal. It only felt right to write something about GST Malaysia in our bookkeeping Kuala Lumpur blog page.

Yes, deadline for GST registration is 31 December 2014. Would there be extension of deadline? According to Kastam spokeman, there won’t be and for who registered later than the deadline would be penalised. So, hurry up for needing to register. GST online registration is free from Kastam website. Though some of our clients want us to register for them, paying a small fee for relieving themselves from the registration hassles that they might encounter. Contact us should you need our help or advice in your company’s GST registration!

GST accounting would be a bit tricky if your reporting platform was not set up properly. There is a list of more than 50 approved software vendors supplied by Kastam for new GST registrants to choose from, some were registered with Kastam, some weren’t. But then again, why the non-registered vendors being listed in the list? A bit confusing I must admit. There was one “registered” vendor we contacted and was told that companies needed to use ONLY, yes they stressed the word “only”, a GST compliant accounting system to print out tax invoices when the GST era comes into play, and theirs being a GST compliant accounting software. We just couldn’t agree to that! But we were OK with the comment from another vendor saying that the GST compliant accounting software is “hardcoded” to a single company entity, meaning one software for one GST registrant only. Then how come the question, “What is GST compliant accounting software?” Yer Ant is not a software vendor but do have ample knowledge of what a GST compliant accounting software is and how it works. As opposed to software developers, we know more in depth about accounting and bookkeeping, we are Accountants and Bookkeepers!

So, talk to us if you have any doubt about your company needs of GST registration or about GST accounting and its GST compliant accounting software. We do provide advisory, consultancy and even implementation and outsourcing of GST accounting function for small businesses. Take action now and get ready for the GST era beginning 1 April 2015, that’s just over 7 months away.

Mar 18

Borang E YA2013 filing Malaysia

Tax filing for Borang E, i.e. employer’s income return, is lapsing this 31st March for manual submission. Tax filing for Borang BE, i.e. individual income tax with no business income is on 30th April 2014.

For your information, Pusat Pemprosesan Maklumat LHDNM has shifted from its premise in Pandan Indah to Seksyen 9 of Bandar Baru Bangi. The Pandan Indah premise is now close, so don’t head over there for any matter at all. The entire operation is now at Bandar Baru Bangi. Here’s a location map to the new LHDNM office for manual filing purpose:-


Lembaga Hasil Dalam Negeri Malaysia, Jabatan Pemprosesan Maklumat, No.3, Jalan 9/10, Seksyen 9 43650 Bandar Baru Bangi, Selangor Darul Ehsan.

Contact us if you need help in filing of tax returns and learn more about your employment and/or business and its activities and assess if there were any tax planning opportunity for you. We can also assist in bookkeeping services and timely preparation of accounting records within Kuala Lumpur and Klang Valley.

Check out our “No-frills express bookkeeping services!”

Nov 20

Time to do 2013 bookkeeping, Kuala Lumpur!

bookkeeping-kuala-lumpur-year-end-20132013 is coming to an end. It’s time to do your bookeeping!

We, at YerAnt, offer our services to clients from a simple sole proprietorship to very complicated group of unlisted companies. As for departmental outsourcing, there are too many variables such as level of involvement, volume of transactions, actual job scopes. Understanding this, we provide very flexible packages for our clients to decide what is best for them, when considering fees and service. Our list of accounting value-added services include:

  • Bookkeeping and full set of accounts
  • Tax planning
  • Personal taxation computation
  • Corporate taxation computation
  • Consolidation of accounts
  • Bank reconciliation
  • Cash flow statement and analysis
  • Budgeting & Forecasting
  • Financial analysis and advisory
  • Cost management and pricing advisory
  • Payroll accounting with EPF, SOSCO and PCB filings
  • Project accounting
  • Liaising with auditors and tax authorities
  • Total departmental outsourcing for accounting and finance functions

The charges for our services usually depend on the size and complexity of your business. Please find herewith an example of our bookkeeping fee for a small scale business for your reference.

Click here to download.

Aug 06

Annual return filing for December 2012 accounts

SSMThe deadline filing of Annual Return for companies whose accounts’ year end of December 2012 will be on 7th August, yes, tomorrow!

Section 165 of the Company Act requires all companies to lodge the annual return within one (1) month of the Annual General Meeting (“AGM”) of which AGM is to be held within 6 months of the end of the companies’ financial year. As such, companies who financial year ended 31 December 2012 will have until 30 June 2013 to hold its AGM and thus to lodge their Annual Return to SSM by 31 July 2013. 7th August 2013 is the extended deadline given by SSM. Of course, the above may not be applicable to a newly incorporated company which required by Section 143 (1) of the Company Act to hold its first AGM within 18 months of its incorporation.

Jun 28

e-filing of Borang B YA2013

Tax filing for Borang B, i.e. individual with business income, is lapsing this 30th June for manual submission.

While we were submitting the manual tax returns for some of our clients in Pandan Indah this morning, we noticed that the IRD has generously extended the deadline for e-filing of Borang B to 15 July 2013. Kudos to the IRD for tax payers’ convenience once again. For those who can not make it this 30th for the manual submission, you’ll have another 15 days to do so via the e-filing method. Still do not have the ID for e-filing? Please register and submit the tax return electronically to avoid penalty on late submission.

Contact us if you need help in filing of tax returns and learn more about your employment and/or business and its activities and assess if there were any tax planning opportunity for you. We can also assist in bookkeeping services and timely preparation of accounting records within Kuala Lumpur and Klang Valley.

Check out our “No-frills express bookkeeping services!”

May 15

e-Tax filing YA2013

Deadline e-Tax filing for Year of Assessment 2013 for Borang BE is today, 15 May 2013 although the manual (hardcopy) filing has lapsed on 30 April 2013. These two deadlines are however for individuals who do not have business income. For those carrying a business income, namely sole-proprietor or partnership, the deadline is 30 June 2013.

Penalty for late filling : The Inland Revenue Board is to impose penalties ranging from 20% to 35% of gross tax payable (before deduction of the tax paid by the employer and/or tax instalments) for the late filing of tax returns. Failure to remit the balance of tax payable by the due date will also attract another penalty of 10%. For any balance unpaid after 60 days, a further 5% penalty will be imposed. Hence, a gentle reminder to all tax payers, file in your tax return on time and make payments to IRD on time to avoid unnecessary imposition of penalties.

We can help on timely preparation of accounting records and filing of tax returns for individuals having both Borang BE or Borang B. Contact us to learn more about your employment and/or business and its activities and assess if there were any tax planning opportunity for you. Save taxes!

Dec 09

“No-frills” bookkeeping accounting fees

We, at YerAnt, offer our services to clients from a simple sole proprietorship to very complicated group of unlisted companies. As for departmental outsourcing, there are too many variables such as level of involvement, volume of transactions, actual job scopes. Understanding this, we provide very flexible packages for our clients to decide what is best for them, when considering fees and service. Our list of accounting value-added services include:

  • Bookkeeping and full set of accounts
  • Tax planning
  • Personal taxation computation
  • Corporate taxation computation
  • Consolidation of accounts
  • Bank reconciliation
  • Cash flow statement and analysis
  • Budgeting & Forecasting
  • Financial analysis and advisory
  • Cost management and pricing advisory
  • Payroll accounting with EPF, SOSCO and PCB filings
  • Project accounting
  • Liaising with auditors and tax authorities
  • Total departmental outsourcing for accounting and finance functions

The charges for our services usually depend on the size and complexity of your business. Please find herewith an example of our bookkeeping fee for a small scale business for your reference.

Click here to download.

Nov 28

Tax planning and tax evasion

Tax planning and tax evasion are two different activities per se. Tax planning is the act of arranging of one’s financial affairs to take full advantage of all eligible tax exemptions, deductions, concessions, rebates, allowances permitted under the Income Tax Act, so that the tax burden is minimised in the hands of the taxpayer without violating the legal provisions. Tax evasion on the other hand is the act by which the tax is illegally avoided through unacceptable means. It refers to a situation where a person tries to reduce his tax liability by deliberately suppressing the income or by inflating the expenditure, recording fictitious transactions, etc.

We will discuss more on tax planning from hereon. Besides bookkeeping and related accounting services provided by Yer Ant, we also provide services in the area of tax planning. As one would describe and agree on, planning should be done in the beginning rather than later. Before we engage on the bookkeeping data entry or even better, before the start of operations of a business entity, we will always try to understand the clients’ intended businesses and operations to identify the eligibility of the clients’ businesses and activities for tax exemptions, incentives, rebates and allowances under the Income Tax Act 1967 of Malaysia.  There are various exemptions and incentive, particularly from the Malaysia Investment Development Authority (MIDA), to entice foreign investors to invest in Malaysia and encourage Malaysian businesses to expand their businesses aboard whether either by way of exporting products and services or business presence expansion.

After understanding your business activities, we would proceed to identify and tax plan your business’s operational activities to maximize the tax deductions and minimize tax burdens and implications to your businesses and its owners/shareholders. Whilst some tax planning involved minor reclassification of financial transactions, some tax planning exercise may involve major restructuring of business activities and/or shareholding structures to maximize the tax benefits.

Contact us to learn more about your business and its activities and assess if there were any tax planning opportunity for your businesses. Save taxes!

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