Reminder for register online business with SSM
Many people dabble in business online to supplement their income, but did not register company or business with the Companies Commission of Malaysia (SSM) to avoid Inland Revenue Board queries.
This is an offence punishable under the Registration of Businesses Act.
For those who make use of social networking sites to sell products need to register as they are considered doing business.
Many people are not aware that they need to register their businesses with SSM to do online selling as a sideline, including through social networking sites such as Facebook.
Under the Registration of Businesses Act 1956, an offender can be fined a maximum of RM50,000 or jailed up to two years or both upon conviction.