E-Newsletter June 2017
Our world is changing faster with greater shifts than at any other time in human experience. During the last few months, 3E Accounting has also been going through some changes and business growth. We recognize that this tumultuous time is the best timing of having a unique resource of business networks with a shared global passion for supporting and for maximizing the potential of all members. Our reputation is our most important asset and the foundation on which we have established our company.
3E International Network
As a diversified international network, we recognise that networks are important because they help strengthen and support our business. Last month we managed to have three more network members: Azerbaijan, Afghanistan, and Bangladesh to join our global network. The expansion of the network has further proven our capability as one of the leading international networks in Singapore with more than 1,000 staff, 76 offices, and 48 countries to support clients from all around the world.
Important Dates Reminders
In Malaysia, we all know that a business could face late payment and late filing penalty and these consequences are devastating. Furthermore, the directors of a company are obliged to make sure that all annual returns are filed accordingly. It is mandatory for the companies to file their annual returns and audited accounts with SSM. The directors of every company will have to prepare the financial statements, within 18 months of incorporation and subsequently, within 6 months of financial year-end, for the tax filing purpose. Failure to do so will face the penalty not more than RM500,000 or 1-year imprisonment, or both.
In addition, for those companies that their financial year ends on 31 December 2016, the Audited Financial Statements (“AFS”) must be circulated to every member within 6 months of financial year-end or 18 months of incorporation, whichever is earlier, by 30 June 2017 and lodged with SSM within 30 days of circulation. On top of that, Form C (Income Tax) must be submitted to IRB before 31 July 2017. We understand the hassle and red tapes involve when comes to tax filing. As such, please do not hesitate to reach out to us where we will send out personal reminder to you so that you can avoid the incident of late filing and penalty.
We appreciate your continued support and commitment to both our company and our growth. We are confident we can make this mutually rewarding by providing the best service to you.
Read More in our E-Newsletter June 2017.