Do you have a burgeoning side income but are unsure of how to declare or pay taxes for it? Here’s your guide to managing taxes of a small business project. — RinggitPlus picIt’s also however much you’ve made in profit from your own efforts — from renting out property, working part-time, or any entrepreneurial efforts you participate in.
“Other gains or profits” is defined as payments received for part-time or occasional broadcasting, lecturing, writing, and so forth. as it doesn’t technically count as “carrying on a business”. The easiest type of company to register is a sole proprietorship which only costs RM30 if you use your own name .
Showing healthy earnings and responsible tax payments is proof of your creditworthiness. — RinggitPlus picYou must also retain documents like your statements from payment gateways, invoices and purchase receipts, income statement from ad companies and sales confirmations, etc in good condition for 7 years.
Bro NajibRazak u can learn a thing or two from here.