Winding up of LLP in Malaysia
LLP can be dissolved through winding-up by court, voluntary winding-up or striking-off by Registrar. The common mode of dissolving a LLP will be applying for voluntary winding-up, initiated by one of the partners of LLP when the LLP has ceased operations and discharged its debts and liabilities.
A pre-requisite requirement for the winding-up application will be obtaining a written notice from the Inland Revenue Board (IRB). Upon obtaining the clearance from IRB, notice for proposal of winding-up shall be sent to all partners of LLP and a notice has to published in widely circulated Malaysian newspapers for declaration of such winding-up.
The Registrar will declare the LLP is dissolved if no objection is received and if there is any objection, upon withdrawal of such objection by the partners/creditors or when the Registrar decides the objection made is without justification.
Our fee for assisting in winding-up of LLP is RM5,000 (W/GST RM5,300) including advertisement fee and fee payable to SSM. This special rate is only applicable should you sign-up our Annual LLP Services.
If you need our assistance to obtain the tax clearance letter from IRB, our fee is from RM1,000 (W/GST RM1,060).
For companies that have ceased business operations, the companies have to obtain closure of EPF/SOCSO/PCB Employer Registrations and final tax return to be submitted to IRBM. We will be able to quote you a fee for preparation of the submissions of closure of the mentioned statutory boards and final tax returns once we received all accounting records from you.