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New Straits Times
3 days ago
- Business
- New Straits Times
Expert advice on how SMEs can avoid tax filling as once-a-year scramble
KUALA LUMPUR: Small and medium enterprises (SMEs) should take a more structured approach to manage their corporate tax obligations to avoid penalties and ensure smooth compliance. Chartered Tax Institute of Malaysia (CTIM) council member Harvindar Singh said while many business owners remain focused on day-to-day operations, tax matters often take a back seat until submission deadlines loom, resulting in rushed filings and avoidable mistakes. "Tax filing should not be a once-a-year scramble. With the right approach and record-keeping, SMEs can make it a smoother, more predictable process," Harvindar told Business Times in an interview. Companies have eight months from the end of their financial year to submit their income tax return (Form C), factoring in the Inland Revenue Board's (IRB) one-month grace period. For instance, a company with a Dec 31, 2024 year-end must file by Aug 31, 2025. More crucially, companies must also submit tax estimates (Form CP204) a month before the new financial year and make monthly installments starting from the second month. These estimates can be revised in the sixth, ninth and 11th months of the basis year. "The IRB discourages taxpayers from using the government as a funding mechanism. It's a pay-as-you-earn system," Harvindar said, adding that penalties apply for underestimation or late payments. Common mistakes and missed opportunities Among the most common errors SMEs make are misclassifying deductible and non-deductible expenses, overstating capital expenditures as tax-deductible, and failing to maximise claims on capital allowances. "A lot of taxpayers do not analyse their expenses properly. Renovation costs, for example, may be lumped under repairs and maintenance and mistakenly claimed as deductions," he explained. Harvindar emphasised the importance of being aware of eligibility criteria and maintaining proper documentation when it comes to tax incentives. He said some incentives, like pioneer status or reinvestment allowances, must be approved in advance and may be rejected if a business has already started operations. "Documentation is key. The IRB can request for original or digital records, and if these are missing or incomplete, legitimate claims may be rejected," he said. He also advised businesses to structure employee compensation wisely and consider incentives such as the Private Retirement Scheme, which offers corporate tax deductions of up to seven per cent on contributions. Be audit-ready, always Harvindar pointed out that companies must always be audit-ready as part of Malaysia's self-assessment tax regime. Tax audits are typically announced in advance, but investigations can occur unannounced, especially if the IRB suspects malpractice. "Keep your records for at least seven years, as required by law. Sales invoices, purchase receipts, payroll records, loan agreements—these are all vital," he said. Businesses with related party transactions must ensure proper transfer pricing documentation is in place to avoid scrutiny during audits. Staying ahead of tax law changes With rapid tax law developments, including the rollout of e-invoicing and capital gains tax, Harvindar encouraged SMEs to stay updated through tax professionals. "Even as a consultant, it's overwhelming to keep up. It's critical for SMEs to work closely with their tax agents or accountants to stay compliant and avoid costly oversights," he said. Ultimately, good tax planning, according to Harvindar, is not about avoiding tax, but aligning business decisions with the law for optimum outcomes.
Time of India
18-05-2025
- Time of India
Landlord booked for renting to illegal Bangladeshi immigrants in Bengaluru
Bengaluru: A 50-year-old landlord is facing legal charges for renting his property to illegal Bangladeshi immigrants, without following proper registration procedures. The case emerged during a citywide alert issued by police commissioner B Dayananda, following instructions from the ministry of home affairs (MHA) to trace illegally staying Pakistani nationals in Bengaluru. On May 2, Amruthahalli police received information about a Bangladeshi family residing in a labour shed behind a govt school in Dasarahalli, northeast Bengaluru. Sub-inspector Sunil Kumar KB and his team investigated the tip-off and located a couple identified as Mahmadh Mathin, 30, and Rajiya Sulthan, 27, living with their two minor children. During questioning, the couple revealed they had illegally entered India through West Bengal. After staying in several cities, they arrived in Bengaluru, where they worked at a construction site and lived in a shed, owned by Ambarish. After verifying their status as illegal, police presented the family to the Foreigners Regional Registration Officer (FRRO), who ordered them to be placed in a detention facility in Doddagubbi, Kothanur. Rather than registering a criminal case against the family for illegal stay, which would require them to remain in India until the conclusion of a trial, authorities have initiated deportation proceedings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 인천에서 찾은 합리적 선택, 임플란트가 30만원대? 플란치과 더 알아보기 Undo However, the property owner, Ambarish, was found to have violated the guidelines for renting to foreign nationals . He failed to submit "Form C" to the local police station within 24 hours of the foreign nationals' arrival, as required by law. Form C is a document that records details of foreign nationals and their identification proofs, allowing police to monitor their activities. Ambarish had rented his shed to Mathin for three months, collecting several thousand rupees in rent. Police noted that other families from the Rohingya group were also staying in sheds, owned by him, and they are investigating whether the Bangladeshi couple possessed undisclosed Indian identification documents. Legal action has been taken against Ambarish under the Foreigners Act. As it is a bailable offence, a chargesheet will be filed against him in court.
Malay Mail
24-04-2025
- Politics
- Malay Mail
EC: March 2025 supplementary electoral roll open for review
KUALA LUMPUR, April 24 — The Supplementary Electoral Roll for March 2025 (DPT BLN3/2025), which was verified and gazetted today, is now open for review for 30 days until May 23. Election Commission (EC) secretary Datuk Ikmalrudin Ishak said the DPT BLN3/2025 contained the names of citizens aged 18 and above during the period March 1 to 31, 2025, who were automatically registered as new voters, as well as registered voters who changed constituencies and voters who changed status or category of voters. 'The EC provides five methods of review, namely, through EC portals at or the official portal of the State Election offices at and online application at 'Other methods include the MySPR Semak mobile application or the Voter Registration Check hotline at 03-8892 7218,' he said in a statement today. Ikmalrudin called on citizens aged 18 and above during that period and any registered voter who has applied for a change of constituencies or voter status to check their names in DPT BLN3/2025. 'If they find that their names are not listed in the electoral roll, they can make a claim by filing in Form C through the online app at or visit the State EC office concerned,' he said. He added that registered voters in any constituency who wished to object to the entry of voters who changed to their constituency could fill in form D. 'Forms C and D can also be downloaded from the State Election Offices' portals at and should be submitted to the state election director concerned during office hours on any working day during the review period of the DPT BLN3/2025,' he said. For any questions regarding the review of DPT BLN8/2023, the public can visit the EC's official portal or contact the EC at 03-8892 7218. — Bernama
Associated Press
14-03-2025
- Business
- Associated Press
Nowutalk AI Launches Voice-First Sales Agent for Shopify Stores, Empowering E-Commerce Owners with Real-Time Insights
Holmdel, NJ March 13, 2025 --( The AI-powered sales agent not only sells for you but also helps merchants make smarter decisions—Nowutalk AI is live. Nowutalk AI is transforming online shopping with the first voice-driven sales agent for Shopify stores, bringing the ease of in-store conversation to digital shopping. Unlike chatbots, Nowutalk AI doesn't just answer questions—it sells. With a simple voice command, customers can browse products, get instant recommendations, and complete purchases hands-free. But it's not just about voice—behind every interaction, Nowutalk AI gathers real-time intelligence to help merchants make data-backed business decisions. 'E-commerce owners struggle with data overload. We don't just automate sales—we help them understand their customers better, in real-time,' said Serge Beck, CEO of Nowutalk AI. 'We built a voice agent that does more than just talk—it learns, adapts, and helps businesses grow.' Live on Shopify & Protected by a Patent Merchants can install it on Shopify and start converting voice interactions into sales today. The technology is also patented, making it a first-mover in voice-driven e-commerce intelligence. Real Traction & Influencer Backing ● Beta testers include a top influencer with 3.5M followers, testing Nowutalk AI in his store. ● Strategic partnerships are rolling out to integrate Nowutalk AI into more high-traffic e-commerce platforms. ● 60% of the team are engineers, ensuring a product built for scale. Why This Matters for E-commerce Owners ● Increase Conversions: Customers shop faster with conversational commerce. ● Data-Driven Sales: Merchants receive intelligence reports to optimize inventory & marketing. ● Seamless Integration: Works instantly with Shopify—no complex setup. Get Involved ● Merchants: Install Nowutalk AI on Shopify App Store ● Investors: Join their Wefunder campaign ● Media/Press: Contact them at [email protected] ● For more information, visit About Nowutalk AI Nowutalk AI is transforming digital interactions with next-generation AI-powered voice sales agents. The company delivers human-like conversations that convert browsers into buyers by integrating core Intelligence, natural language processing, and adaptive learning. As a leader in voice-first AI technology, Nowutalk AI is setting a new standard for customer engagement and sales automation in e-commerce. Testing the waters legal disclosure. We are 'testing the waters' to gauge investor interest in an offering under Regulation Crowdfunding. No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and only through Wefunder's platform. Any indication of interest involves no obligation or commitment of any kind. Nowutalkai, Inc. Claudia Calvo
