Dec 15 2007, 03:39 AM
QUOTE(TheNameX @ Dec 13 2007, 08:02 PM)
Alright.. I decided to register my own company for some IT projects. But before I proceed to SSM, I would like to know some of the details, FYI, I will be registering sole proprietorship.
1) Do I need to report profit/loss on every year for tax, etc ??
2) Is there any difference between sole proprietorship and partnership (sdn bhd) other than the no. of owner ??
Thank you in advance, cheers!!
1) u need, but first few yr u just fill in loss... even u got profit... haha... they wont kacau u ....1) Do I need to report profit/loss on every year for tax, etc ??
2) Is there any difference between sole proprietorship and partnership (sdn bhd) other than the no. of owner ??
Thank you in advance, cheers!!
2) partner ship is same with sole prop, just owner hv more than 1 ..... and renew fees is sligthy higher a bit....
SDN BHD is different story.. a lot process to set up... but it got more protection... example if u are sole prop or partnership, once u company own people money... u need to sell ur asset like house to pay back.... But sdn bhd is totally different... u own people 1m, no need pay back by ur own asset, but all the company asset will force to sell to payback, if not enough, bankrupt lo... a lot rich people do like this....
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