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Sole Proprietorship
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Company (Sdn Bhd)
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Entity name
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Personal name or trade
name
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Ended with “ Sdn
Bhd”
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Legal status
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Not a separate legal
entity
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Separate legal
entity
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Personal liability
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Unlimited liability
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No personal
liability on director or shareholder
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Perpetual succession
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No
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Yes
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Number of directors
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N/A
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Minimum 1
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Number of
shareholders
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Sole proprietor only
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Minimum 1, maximum
50
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Register with SSM
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Yes
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Yes
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Annual fee to SSM
Submission to SSM
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Yes
To renew SSM license
|
Yes
Must file Annual
Return and Audited Financial Statement annually
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|
Company secretary
|
N/A
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To appoint a
qualified Company Secretary
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|
Auditor
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N/A
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To appoint a
qualified auditor
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Tax
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Submission of tax
return Form B annually
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Submission of tax
return Form C annually
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Income tax rate
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Scale rate, maximum
up to 30%
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SME:
First RM600,000 @
17%
Remaining @ 24%
*Subject to other
conditions
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|
Income
tax rebate for newly incorporated company **
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N/A
|
SME incorporated between
1 July 2020 to 31 December 2021
*Subject to other
conditions
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