Hello, I have some questions about the tax filing.

I have a LLP business which was incorporated in November 2017, do I need to file income tax for the business?

Is the business can be separated with the individual income tax filing? For example, the partners are not eligible to have salary from the LLP business. So in my individual income tax, how should I file? Do I still need to declare through e-B?

Hope to have some guidance from you all... thank you thank you!

is this means that, I file for B (salaried but no biz income), for LLP, if I get dividence from the LLP, do I need to declare it? as it had been taxed in corp level.

Get a tax agent.

Do you know normally how is the charge of a tax agent? Please advise..... I dont know the rate.

If you had registered the LLP in November 2017, you need to decide when your first financial year end would be. My suggestion is for the first year to end in Dec 2018, which means the second year ends in Dec 2019, third year ends in Dec 2020 etc.

For the first financial year, you can have a maximum of 18 months.

If your first financial year ends in 2018, that means you don't need to do any filing for 2018. You only need to do the filing in 2019.

But if you decide to end the first financial year in Dec 2017, for example, then you need to do filing in 2018 for YA2017 (Year of Assessment 2017).

No need to declare in e-P and e-B. LLP is not normal partnership. LLP is Limited Liability Partnership. It's like a Sdn. Bhd. Sdn. Bhd. shareholders don't need to declare e-P and e-B.

Sdn. Bhd. itself must declare form C.

LLP itself must declare form PT.

LLP is taxed at corporate level, just like Sdn Bhd. So no need to declare in form B. If don't have any sole proprietorship or other normal partnerships, then declare in Form BE.

This post has been edited by trusol: Apr 7 2018, 01:47 PM

LLP is a body corporate like a Sdn. Bhd., which means it is like an individual. It's income tax filing is using form PT. You don't need to declare the business in Form B. In fact, you may not even need to use Form B if you don't have other sole proprietorships or normal partnerships. You probably need to use Form BE.

Partners of an LLP can have salaries, but LHDN won't allow it unless the salaries have been agreed on in an LLP agreement between the partners.

Clear!! I got your idea!! Thank you so so much!!!

mate, its LLP not normal partnership...

Very clear.

Meanwhile, suggest TS to specified the thread name as for LLP to help draw more interested LLP business partners to discuss on the tax filing.

A company which is only a single name in trading license status but had Partnership Agreement(had mentioned profit sharing) and Power of the Attorney (for partner to manage the operation) done by lawyer with stamp duty.

Is the company above consider partnership and need register tax no? Or just declare tax for 1 per person only?

I maybe wrong, but my wild guess is LHDN will follow the SSM registration....