--- title: "Audit & Taxation Services - Foundingbird Malaysia" description: "Professional audit and tax compliance services for Sdn Bhd companies in Malaysia. We work with licensed auditors and tax agents to ensure you never miss a deadline." dateModified: 2024-12-15 market: my canonical: https://foundingbird.com/my/audit-tax-services-sdn-bhd/ source: https://foundingbird.com/my/audit-tax-services-sdn-bhd/ --- Work with our trusted partners # Audit & Tax Compliance for Malaysian Sdn Bhd Companies Together with our recommended auditor & tax agent, we support you every year with your financial and statutory audit as well as your tax filing. We ensure both auditor and yourself are aware of upcoming deadlines and liaison directly with them on your behalf. [Talk to our team →](https://wa.me/601154155962) [Contact Us](/my/contact/) ![Customer founders](/assets/images/founders.png) Trusted by more than 1600 founders like you 5 stars on [TrustIndex](https://www.trustindex.io/reviews/www.foundingbird.com) out of 23 reviews Licensed Secretary ![SSM Registered](/assets/images/logos/ssm.png) ![mida](/assets/images/logos/mida.svg) ![SPENMO](/assets/images/logos/spenmo.webp) ![Chip](/assets/images/logos/chip.svg) New rules from 2025 ## Does My Company Really Need an Audit? Understanding Malaysia's audit requirements and exemption criteria is crucial for compliance. Most Sdn Bhd companies require an annual audit, but recent changes may affect your company. ### Understanding Audit Requirements Under the Companies Act 2016, most private limited companies (Sdn. Bhd.) in Malaysia are required to have their financial statements audited annually. However, the Companies Commission of Malaysia (SSM) has established **audit exemption criteria** for certain qualifying companies. #### New Audit Exemption Thresholds (2025-2027) SSM has introduced a phased approach to audit exemptions, significantly raising the thresholds. To qualify for exemption, your company must meet **at least two** of the following criteria for two consecutive financial years: Criteria Phase 1 (2025) Phase 2 (2026) Phase 3 (2027+) Annual Turnover ≤ RM1,000,000 ≤ RM2,000,000 ≤ RM3,000,000 Total Assets ≤ RM1,000,000 ≤ RM2,000,000 ≤ RM3,000,000 No. of Employees\* ≤ 10 ≤ 20 ≤ 30 \*Full-time employees only, excluding directors and shareholders. Qualification is based on the financial statements of the two preceding financial years. #### Is a newly incorporated company eligible right away? Not usually. To qualify for audit exemption, your company needs to meet certain size thresholds not just for the current year, but also for the **past 2 financial years**. Since a new company won't have 2 years of financial history yet, it typically won't qualify until it has completed at least 3 financial years. [See the official SSM FAQ (Item 27) →](/assets/pdfs/audit-exemption/Audit-Exemption%20FAQ.pdf) #### Companies Not Eligible for Audit Exemption - Exempt Private Companies (EPC) that have opted to lodge a certificate under Section 260 - Private companies that are subsidiaries of public companies - Foreign companies operating in Malaysia **Important Note:** Even if your company qualifies for audit exemption, you may still choose to undergo a voluntary audit. This can be beneficial when applying for bank loans, securing business partnerships, or attracting investors, as audited financial statements provide greater credibility and transparency. ## Comprehensive Audit & Tax Services We work with licensed auditors and tax agents to provide you with professional, compliant, and timely services. 📊 ### Audit Services Meet your statutory audit requirements with our professional audit services. We work with licensed auditors registered with the Malaysian Institute of Accountants (MIA) to ensure your company's financial statements are properly audited and compliant. - Annual statutory audit and financial statement audit - Compliance audit and regulatory reporting - Audit coordination and management - Liaison with auditors on your behalf - Deadline reminders and compliance tracking - Management letter review and recommendations 📋 ### Taxation Services Stay compliant with Malaysian tax regulations. Our partner tax agents handle all aspects of corporate tax filing and ensure you take advantage of all available deductions, allowances, and incentives. - Corporate tax filing (Form C) and income tax computation - Estimated tax payable (Form CP204) submission and revisions - Tax planning and optimization strategies - Tax advisory and consultation services - Tax incentive applications (Pioneer status, Investment Tax Allowance, etc.) - Liaison with LHDN (Inland Revenue Board) - Tax clearance and tax credit refund applications ### Additional Tax Services Available #### Personal Income Tax - Form B (Personal tax with business income) - Form BE (Personal tax with employment income) - Form P (Partnership) - Form M (Non-resident personal tax) #### Other Services - Form EA & Form E preparation - Tax credit set-off and refund - Real Property Gain Tax (RPGT) advisory - Withholding tax planning & advisory ## Beyond Compliance: The Strategic Value of Professional Audit & Tax Services Meeting legal requirements is essential, but professional audit and tax services offer strategic value that goes far beyond compliance. 🏦 ### Boosts Credibility with Banks & Investors When you apply for a business loan or seek investment, audited financial statements provide independent verification of your company's financial health, making you a much more credible and attractive candidate for financing and partnerships. 🔍 ### Uncovers Internal Weaknesses & Risks Professional auditors provide an external perspective that can identify weaknesses in your internal controls, inefficiencies in your bookkeeping, or potential risks for fraud that you might have overlooked. 📈 ### Reliable Data for Strategic Decisions An audit ensures that the financial figures you rely on for budgeting, forecasting, and strategic planning are reliable, accurate, and a true reflection of your performance. ⏰ ### Never Miss a Deadline Our automated reminder system ensures you're always aware of upcoming audit and tax deadlines. We coordinate directly with auditors and tax agents to keep everything on track. 💰 ### Tax Optimization & Savings Expert tax planning helps you legally minimize your tax liability through proper use of deductions, allowances, and incentives available under Malaysian tax law. 🤝 ### Seamless Coordination We act as your liaison with auditors and tax agents, ensuring smooth communication, timely submissions, and that all parties are aligned on deadlines and requirements. ## How Our Audit & Tax Services Work We simplify the process by coordinating with licensed professionals on your behalf, ensuring everything runs smoothly. 1 ### Connect with Our Partner Auditor & Tax Agent As a company secretary and accounting firm, we cannot audit our own clients. We work with trusted, licensed auditors and tax agents who are registered with MIA and LHDN. We'll introduce you to our recommended partners and facilitate the initial setup. 2 ### We Coordinate Throughout the Year We maintain regular communication with both the auditor and tax agent on your behalf. We ensure they have access to your financial records (prepared by our accounting team), coordinate deadlines, and keep you informed of all upcoming requirements and submissions. 3 ### Timely Reminders & Deadline Management Our system sends automated reminders for all audit and tax deadlines, including Form CP204 submissions, tax estimate revisions, annual tax returns, and audit report submissions. We ensure nothing falls through the cracks. [Talk to our team about Audit & Tax Services](https://wa.me/601154155962) ### These companies have chosen Foundingbird to help them start & manage their business ![Pacer](/assets/images/logos/pacer.svg) ![mida](/assets/images/logos/mida.svg) ![Tawk](/assets/images/logos/tawk.png) ![SPENMO](/assets/images/logos/spenmo.webp) ![Bayu Somerset](/assets/images/logos/bayusomsert.png) ![Chip](/assets/images/logos/chip.svg) Reviews ## What these startup founders have to say about FoundingbirdApa yang dikatakan oleh pengasas startup ini tentang Foundingbird这些初创企业创始人对Foundingbird的评价 5 stars on [TrustIndex](https://www.trustindex.io/reviews/www.foundingbird.com) out of 23 reviews ![Jordan Richards](/assets/images/jordan.png) Jordan Richards Founder & CEO at I Blow The Whistle Sdn Bhd Foundingbird has been there since day one for me. They are professional, understanding and very friendly. I have had nothing but a wonderful experience with them and highly recommend them 5 star on Google ![Donald Ng](/assets/images/donald.jpeg) Donald Ng Founder of Mida.so As a tech startup founder, I've been genuinely impressed by their tech-focused approach to company secretarial tasks in Malaysia. Their user-friendly online platform has made my business journey smoother, and their attentive team ensures I can focus on growth without any hassle on the compliance side. 5 star on Google ![Chai Chiah Leung](/assets/images/chai.png) Chai Chiah Leung Lemon Solutions Sdn Bhd Foundingbird managed to help incorporate my Sdn Bhd from start to finish within 2 working days, without any hassle at all from my end. The team was friendly to work with, and answered all questions & doubts without hesitation. 10/10 would recommend! 5 star on Google ![Shahrul Hamdan](/assets/images/shahrul.png) Shahrul Hamdan Founder at Axe Synergy Sdn Bhd Found them on Google and the professionalism displayed was great. Justine took care of my entire company incorporation process and everything was set up within 3-4 days! I love the digital concept as well, super efficient and everything is done on the cloud, so I can access my documents anytime I want. Great company and all the best, highly recommended. 5 star on Google ![Syahmi Kaberi](/assets/images/syahmi.png) Syahmi Kaberi Hijauan Wellness Sdn Bhd Foundingbird is really disrupting typical & conservative cosec, very efficient & convenient to incorp. Stay simple & go fast team! 5 star on Google ![Alexander Ivanov](/assets/images/alexander.png) Alexander Ivanov CEO at Avintec Asia Sdn Bhd Foundingbird is being run by a great team having a number of advantages that are hard to combine usually: \- Highly professional \- Responsive \- Fast with their actions \- User friendly \- Reasonably priced I feel lucky finding them and highly recommend their services. 5 star on Google ## Frequently Asked Questions About our audit and tax services ### Does my company need an audit? Most Sdn Bhd companies in Malaysia are required to have an annual audit under the Companies Act 2016. However, certain companies may qualify for audit exemption if they meet specific criteria (annual turnover, total assets, and number of employees thresholds). The qualification is based on the financial statements of the two preceding financial years. We can help you determine if your company qualifies for exemption. ### What are the new audit exemption thresholds? SSM has introduced a phased approach with increasing thresholds: - **Phase 1 (2025):** Turnover ≤ RM1M, Assets ≤ RM1M, Employees ≤ 10 - **Phase 2 (2026):** Turnover ≤ RM2M, Assets ≤ RM2M, Employees ≤ 20 - **Phase 3 (2027+):** Turnover ≤ RM3M, Assets ≤ RM3M, Employees ≤ 30 Your company must meet at least two of these criteria for two consecutive years to qualify. ### Should I still get an audit even if I'm exempt? While you may be exempt from mandatory audits, voluntary audits can be beneficial. Audited financial statements enhance credibility when applying for bank loans, securing business partnerships, or attracting investors. The cost difference between filing audit-exempted financial statements and an audit report is often minimal, making audits a worthwhile investment for growing businesses. ### Why does Foundingbird work with partner auditors? As a company secretary and accounting firm, we are legally not allowed to audit our own clients. This is a regulatory requirement to maintain independence and objectivity. We work with trusted, licensed auditors registered with the Malaysian Institute of Accountants (MIA) to ensure professional, compliant audit services for our clients. ### What tax services do you provide? We coordinate with licensed tax agents to provide comprehensive tax services including: - Corporate tax filing (Form C) and income tax computation - Estimated tax payable (Form CP204) submission and revisions - Tax planning and optimization - Tax incentive applications - Liaison with LHDN (Inland Revenue Board) - Personal income tax filing (Form B, BE, P, M) - Tax clearance and refund applications ### What is Form CP204 and when is it due? Form CP204 is the Estimated Tax Payable form that companies must submit to LHDN. It's typically due within 30 days from the start of your financial year. The form estimates your tax liability for the year, and you may need to revise it in the 6th and 9th months if your estimates change significantly. We ensure timely submission and handle any necessary revisions. ### What is the corporate tax rate in Malaysia? Malaysia has a two-tier corporate income tax system: - **Small companies:** 17% on first RM600,000, 24% on subsequent amount (for companies with paid-up capital ≤ RM2.5M and gross income ≤ RM50M) - **Other companies:** 24% on all taxable income ### Can you help with tax planning to reduce my tax liability? Yes! Our partner tax agents provide tax planning and advisory services to help you legally minimize your tax liability through proper use of deductions, allowances (such as Industrial Building Allowance, Export Allowance), tax incentives (Pioneer Status, Investment Tax Allowance, Reinvestment Allowance), and other strategies within the framework of Malaysian tax law. ### How does the audit and tax process work? We coordinate with our partner auditors and tax agents on your behalf. We ensure they have access to your financial records (prepared by our accounting team), coordinate all deadlines, send you automated reminders, and keep all parties aligned. You focus on running your business while we handle the compliance coordination. ### How much do audit and tax services cost? Audit and tax fees vary based on company size, revenue, complexity of transactions, and quality of bookkeeping. Our partner auditors and tax agents provide transparent quotations based on your specific circumstances. We coordinate the process and ensure you receive competitive pricing from licensed professionals. ### Will I receive reminders for deadlines? Absolutely! Our system sends automated reminders for all important deadlines including Form CP204 submissions, tax estimate revisions (6th and 9th months), annual tax return deadlines, audit report submissions, and SSM annual return deadlines. We also coordinate directly with auditors and tax agents to ensure everything stays on track. ### How do I get started? Simply contact us, and we'll introduce you to our recommended auditor and tax agent. We'll facilitate the initial setup, coordinate throughout the year, and ensure all deadlines are met. If you're already using our accounting services, the transition is seamless as we already have your financial records. Still have questions? Get in touch with our team [WhatsApp us now](https://wa.me/601154155962) ## Ready to Ensure Compliance? Let us coordinate with licensed professionals to handle your audit and tax requirements. Never miss a deadline again. [Talk to our team](https://wa.me/601154155962) [Contact Us](/my/contact/)