What are the Yearly Compliance Cost for a Sdn Bhd?

As a company secretary, I always get questions like: how much is the yearly cost for a Sdn Bhd, how much is the pricing for secretarial fees, how much is the accounting fees, how much do I need to budget for audit and tax services?

This should be one of the main factors for new startups to determine whether they are ready to set up a Sdn Bhd as well as every year’s budgeting for existing company directors.

Yearly compliance cost for a Sdn Bhd with TrustMaven

Let’s start with the yearly budgeting/cost estimation in maintaining a Sdn Bhd in assumption that you engage TrustMaven for the following essential services:

 

1. Company Incorporation 

FREE or FOC. Yes, literally it’s free incorporation! It’s not only we offer free incorporation services, we bear the registration fees of RM1,010 that you supposed to be paying to the government authority, Suruhanjaya Syarikat Malaysia (SSM). Find out more on our Free Incorporation Package here.

 

2. Secretarial Services

All-in fees of RM1,600 per year including the yearly SSM filing fees for Annual Return and Audited Financial Statements. Unless you need us to do some extra tasks such as change of company name, amendment of constitution, attendance of general meetings, these are not included in our standard secretarial package and hence will be charged separately at a rate listed on our website. In addition, we only charge disbursements such as Certified True Copy documents, travelling cost in relation to physical activities to SSM, courier charges for hard copy documents upon client’s requests AT COST. Get to know our company secretarial package here.

 

3. Accounting Services

Once your company is incorporated, you will have to take care of your accounting “health” status while focusing on the company’s sales or revenue. Financial projection or forecasting plays a key role in making business decision. You may read here to understand more on how you can prepare your company’s financials.

Back to the cost estimation, we usually depend on the following factors for quotation:

  • Business industry
  • Number of bank transactions
  • Filing conditions (as in neat and tidiness of your according records, whether there are missing payment vouchers or invoices)

Our accounting package starts from RM800 per year. This is specially catered for newly incorporated companies or still in their first year with not many bank transactions yet. 

For startup and small companies especially in the first to third year, whether your business is growing or might still be struggling, we have great solutions for you! Our Chartered Accountants will take care of your company’s financial “health” status and give you adequate advice from time to time when needed. Browse here to know more!

For more accurate estimation, you’re welcome to ask us anytime. We’re happy to answer anytime 🙂

 

4. Audit Services

It is compulsory to engage auditors for your company’s yearly audited financial statements. The audit fees are actually based on the company’s revenue/turnover, assets and inventory. For dormant company or company with negative profits, our audit fees start from RM1,500

 

5. Tax Services

Filing of Employer Return, Estimate of Company’s Tax as well as Income Tax Return to Inland Revenue Board of Malaysia (Lembaga Hasil Dalam Negari) are mandatory for every company. Our tax services is RM1,200 per year.

 

If you have other questions/comments, please fill up the following form. We will reply you soonest possible…

 

 

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