– ‘Residence’ of companies and LLPs explained

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RESIDENCE is basically determining where the company or LLP’s home is for tax purposes. Whenever you undertake international transactions, whether it ...

you undertake international transactions, whether it is commercial or financial, one of the questions that has to be answered in any dealings with the bankers or trade partners is the location of your residence, because your residence status will have an impact on the transaction and the parties transacting with yourself.

Generally, interest and royalty payments made by a Malaysian entity to a non-resident will be subject to withholding taxes. Any payments for services rendered by non-residents in Malaysia will also attract withholding tax.Overall, Malaysian resident entities dealing with non-residents will have to be very careful to ensure that proper withholding taxes are deducted.

It is a question of fact. It is usually based on where the board of directors or the partners meet to take key management and commercial decisions that are necessary for the conduct of the entity’s business is made.

 

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