SocialTax Relief

Company Tax Deduction 2021

Posted LnCoadmin
Here is the list of Company Tax Deduction in year 2021. Quickly jot down and share to your friends!
**Don’t forget to keep your receipt for at least 7 years!**

Commercial Renovation Tax Deduction

Under the government’s subsidiary plan, business premises that incurred renovation & refurbishment will be eligible for a tax deduction up to RM 300,000.

Further Details: Commercial Renovation Tax Exemption

Tax Deduction on Rental Reduction

In 2021, any landlord who reduces rental to his commercial tenant (SME & non-SME) are eligible for tax deduction.
Condition: Rental deduction for at least 30%, stamped tenancy agreement & confirmation for rental discount is needed

Declare Bonus or Director Fee in Accrual Basis

Declaration of bonus or director fee 2021 (although payment made in 2022) are eligible for tax deduction.

Business Transport

Purchase of motor vehicle, plant and machinery under company’s name is eligible to enjoy tax deduction under CA. To claim this, the asset purchase must be wholly used for business purposes.

Flexible Working Arrangement

In order to encourage flexible working arrangements, employers who purchase smartphones, laptops or tablets for their employees are eligible for tax deduction. Besides, employees are tax exempted for these electronic products received from the company.

Purchase of Covid Prevention Equipment

The pandemic prevention equipment purchased by employers to place in offices such as thermometer, Covid Test Kit and PPE prepared for employees is eligible for tax reduction.

Sdn Bhd Annual Fee

Company secretary fee and tax submission fee for Sdn Bhd is eligible for tax deduction up to RM15,000.

Incorporation Tax Deduction

Any Sdn Bhd or LLP that incorporated in 2021 is eligible for a tax deduction up to 3 year and RM60,000 in total.
Contact us to get this tax deduction!

Employee Benefit

The employee benefits provided by company below is tax deductible:
  • Parking allowance, petrol allowance, meal allowance, medical benefit, child care benefit, transportation fee for interstate travel, professional membership fee, creativity or productivity reward, long-services award, telecommunication fee, smartphones
According to LHDN, taxpayers should keep their supporting documents for at least 7 years as LHDN reserves the right to check your documents within 7 years.

 

Having a question on tax submission? Contact us now!