Well if u do that, u need to add Benefit in Kind to ur personal income tax. Which means u pay more personal tax. Of course alot malaysian abuses this loophole, and doesnt report the BIK.

A small extract from this blog :

http://kensomuse.com/blog/2014/05/13/priva...ng-company-car/
But that’s not all. In my last job, I was given a company car and I was surprised to see an item called Benefits In Kind (BIK) registered on my EA form. Essentially, any vehicle provided by the employer for the personal use or enjoyment by the employee is considered as BIK. I argued that the company car was provided to me for sales visits and I had another vehicle at home for personal use – until I was told that if I drive the vehicle home, it’s considered as personal use. And the amount is not small. This is significant because  for those who doesn’t earn that much as a sales/front line personnel, the few extra thousand in the EA could potentially  push them into another income bracket with a higher taxation rate, and you don’t really have cash to show for it.

I was given a company car to drive, I can drive it for personal usage, home, weekends etc.

and yes the car was stated in my EA form under Manfaat Berupa Barangan, I guess this was the BIK?

and also yes it raises my income bracket, means more tax I guess.

U need to calculate depreciation, higher insurance, the car cannot take home at night, need put company name on car, cannot use during weekend n public holiday.

ah! now i see what u are getting at!

so next will be , if the director uses a company car, does he include BIK in income tax? can it be ignored if the director is not taking a salary? genuine question.

of course from company owner point of view, it benefits the company. But as a director declaring personal income tax( after including benefit in kind), doesnt he incur more tax? up to 20+% vs 19% company tax? again genuine question.

Lol! If an employer/director uses a company car meaning the car is under the conpany’s name and not under the director’s name. It has nothing to do with the director therefore why should a director be taxed??

Pls refrain yourself from commenting further with your level of intellectual and understand that directors are special breed of taxpayers.

Oh, you mean that company directors have special treatment under our tax laws? Would these include independent directors, too? Do tell.

Lol! If an employer/director uses a company car meaning the car is under the conpany’s name and not under the director’s name. It has nothing to do with the director therefore why should a director be taxed??

Also, if a director is not taking a salary it is best not to look into buying a car or best just wind up the company.

Pls refrain yourself from commenting further with your level of intellectual and understand that   directors are special breed of taxpayers

What kind if bullshit is this,  TS ask a simple question,  and definitely he is the company owner.  As in my case I declared it as Benefits  yet the 'saving'  outweigh the taxes charges,  etc.  As a profit making company what bullshit we want to calculate insurance,  road taxes, depreciation etc

Hahahah okok

i think you meant non-executive directors are special breed of taxpayers.

So let me rephrase: if the executive director uses a company car which belongs to his/her own company.. he/she doesnt need to declare BIK in his/her income tax even if he/she takes a salary from the company? or need to?

Be thankful for the serious explanation from expert here

Since this is k/tard I expect people will laugh here