Hi guys,

Need some help to figure this out. I work from home for an overseas company since February 2015. Company does not deduct tax nor EPF since it is not based here and I am working for them on a contractor basis. Monthly income is around RM 9,000. I have not registered for sole proprietorship neither am I tax registered.

I never thought of it much at the time but now that I need to get a car loan i'm in a bit of a pickle. I do not mind registering and paying income tax but I would like to know what the procedure is like now since I have not declared my income for the previous tax year. Do I go ahead and register as sole proprietor but only include income earned from the date of formation or do I include income before that as well?

Please let me know if guys have suggestions/advice.

Yes correct. Do you think opening a new bank account linked to the sole proprietorship is a good idea?