Kuala Lumpur is known for its numerous successful accounting firms. Accounting firms in Kuala Lumpur, Malaysia has professional auditors and accountants to deal with relevant operations. Every year thousands of clients take related services from Kuala Lumpur (KL). As a result, this city turns out to be a hub of the accounting firms in Malaysia.
The following are the top accounting firms in Kuala Lumpur, Malaysia.
- AFC Chartered Accountants
- AG Accounting Services
- RSM Malaysia
- S & F Consulting Firm SDN. BHD.
- 3E Accounting Malaysia, Menara Centara
- Foo, Lee, An & Associates
- PKF Malaysia
- YYC Advisors
- Gunalan and Associates Chartered Accountants
- Mazars Malaysia
- Grant Thornton Malaysia
Example of a specific company in KL.
S & F Consulting Firm SDN. BHD.
The accounting firm in KL consists of professional chartered accountants, auditors, consultants, and tax specialists. They are passionate to contribute their work to the continuous development of the country. Over the years the consultancy firm has been growing and has been running a successful business. There are few clients in the consultancy firm who are exhibited under the list of stock exchanges of Malaysia among which some have globally become competitive, some into overseas and some are foreigners who invested money in Malaysia.
Some of the services provided by S & F Consulting Firm SDN BHD are;
- Audit and Assurance.
- Tax Compliance and Advisory.
- Business Advisory.
- Accounting and Bookkeeping.
- Payroll Outsourcing.
- Company Secretarial service Services.
Company registration in Kuala Lumpur
Ever since it is known that Malaysia has been welcoming foreigners to start a new business in the country it is discovered that there has been continuous demand to start a new company in the country. So, registration of a company in Malaysia has been normal due to which the system has become must faster and easier. As per Section 15 of the 2016 Companies Act, the registration will be delivered in 3 days.
Requirements and eligibility of company registration:
- Every company in Malaysia must have a minimum 1 resident director.
- They should attain the legal age of 18 or more.
- They should be a resident of the country.
- Foreigners, corporate or individuals can start a company in Malaysia.
- It is a mandatory that every company needs to have a Company Secretary where within 30 days from the date of incorporation.
The procedure of registration:
- The name selected for the company will be conducted with the name search of the Companies Commission of Malaysia (CCM) to confirm if the name of the company can be taken or not.
- The name of approval takes around 2 hours which also includes a suggestion of additional names.
- The submission for incorporation is done electronically. The information will be placed in order for SSM and the notice of registration will be within 1 day.
- The overall procedure of the incorporation of the company generally takes about 3 working days.
Cost of company registration:
- The fee of company registration is RM 2,500 which also includes the cost of SST, search in the company name, secretarial books purchase, the contribution of the company and hidden charges.
- The retainer fee cost around RM 100 per month.
- Registration of office fee cost around RM 50 per month.
Audit services provided
- As per the Malaysian Corporation Act 2016, it is required to provide the service of Statutory Audit.
- Due Diligence Audit is an audit that is generally prepared before purchasing or investing in current business.
- Investigate Audit or also known as Basic Audit is an audit done to investigate the management of the company.
- And any other types of audit as per the request of a client.
General audit fee:
- According to the Recommended Practice Guide, 7 (RPG 7) released by the Malaysian Institute of Accountant the audit service fee will be taken.
- Audit fees can be taken according to the amount of work and the time taken to complete the requested services.
- The risk involved in the business.
Confidential audit services:
In any services provided to the client the most important part is confidentiality. It is the duty and responsibility of the service provider to keep customers’ information confidential. The assurance of a customer should not be taken for granted their information such as their assets, financial information, etc. should be taken care of properly and must provide the services which they ask.
Accounting services provided
- Accounting and Bookkeeping services should be provided in every 2 months according to the Royal Malaysian Customs.
- Financial statements.
- Income statements.
- Balance sheet.
- General ledgers.
- Calculation SST for the submission of SST returns.
Cost of accounting services in Kula Lumpur (KL) Malaysia:
The cost of accounting services depends on the work given and the time of work completed.
- Reduction of fixed cost.
- Focus on the core business activities.
- Timely payment to be made in the Malaysian Statutory Bodies.
- Calculation of payroll and arrangements of salary payment.
- Monthly reductions done in the salary payment such as STD, EPF and SOCSO.
- Monthly payslips.
- Preparation of yearly EA forms for all staff.
Tax services in Kula Lumpur, Malaysia
Tax services in Kula Lumpur are the services that include personal tax, corporate tax, and other compliance tax services.
PERSONAL TAX SERVICES:
This service provides the preparation, computation and submission for income tax forms to the Inland Revenue Board within the given date.FORM BE can be applied to those who are charged for only ‘employment income’.FORM B is applicable to those who are charged for employment and business income.FORM M is applied for Non-Residents in Malaysia who gets income from Malaysia.
CORPORATE TAX SERVICES:
The services provided are specialized service of tax along with SME. This service includes the preparation of computation and submission of the corporate forms. FORM CP 204 is an advanced tax calculation which submitted to every company before 30 days for the starting of basis period. FORM C is an income tax form for companies. Services for capital allowance calculation. The service is also useful for the calculation and reduction and other allowances so that it can be chargeable income and tax payable. This service can take a whole year to complete the task.