DIFFERENCE BETWEEN MALAYSIA AND SINGAPORE
In a nutshell, set out below are the key differences:-
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SUBJECT MATTER
Corporate Tax Rate
Annual Audit of Accounts
Minimum Number of Directors
Minimum Number of Shareholders
Company Secretary
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MALAYSIA
24%
Relief is given to companies with paid-up capital of less than RM2.5 million to pay a lower tax rate of 18% on the first RM500K of its chargeable income.
Required to audit its accounts every year
One (1)
One (1)
Required
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SINGAPORE
17%
Companies are exempted from having to audit its accounts if the company does not have any corporate shareholder, has less than 20 shareholders, solvent and has revenue less than S$5 million.
One (1)
One (1)
Required
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