Accounting and Taxation
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PRICING PLANS
Choose the Plan That’s Right for You
Compilation of unaudited Financial Statements and Tax Computation for Dormant Companies and Active Medium Sized Companies
Startups/Dormants
RM500 Yearly
Compilation of simple unaudited financial statements (balance sheet & basic notes) for dormant / nil-revenue companies
Review of management accounts and supporting documents
Suitable for newly incorporated or dormant Sdn. Bhd. that have not yet commenced operations
Small/Medium Enterprises
RM1,500 Yearly
Compilation of unaudited financial statements (Statement of Financial Position, Statement of Profit or Loss and basic notes) based on your bookkeeping records
Year-end adjustments (e.g. accruals, depreciation, simple provisions) to tidy up the trial balance
Preparation of MBRS-ready figures to speed up SSM MBRS filing
Adhocs
MBRS documentation - RM500/year
MBRS conversion - RM300/set
SST+Tax registration - RM400
SST bi-monthly return filing - RM150/filing
Frequently Asked Questions
Some frequently asked questions about the service that you may have questions about
Is it compulsory for my company to be audited?
For most private companies in Malaysia, a statutory audit is required, unless the company qualifies for audit exemption under the Companies Act 2016 and SSM guidelines.
A private company may be exempted if it meets any two (2) of the following criteria for the current financial year and the immediate past two (2) years:
• Annual revenue does not exceed RM3,000,000
• Total assets do not exceed RM3,000,000
• Number of employees does not exceed 30
Even if you qualify for exemption, many businesses still choose to have their accounts reviewed or audited voluntarily to strengthen credibility with banks, investors and potential buyers. Cloudify can help you assess whether you qualify for exemption and coordinate with licensed audit firms where an audit is required
A private company may be exempted if it meets any two (2) of the following criteria for the current financial year and the immediate past two (2) years:
• Annual revenue does not exceed RM3,000,000
• Total assets do not exceed RM3,000,000
• Number of employees does not exceed 30
Even if you qualify for exemption, many businesses still choose to have their accounts reviewed or audited voluntarily to strengthen credibility with banks, investors and potential buyers. Cloudify can help you assess whether you qualify for exemption and coordinate with licensed audit firms where an audit is required
The difference between management accounts, unaudited financial statements and audited financial statements
• Management accounts
Internal monthly or quarterly reports (P&L, balance sheet, etc.) used by owners to monitor performance and make decisions. They are not filed with SSM or LHDN.
• Unaudited financial statements
Year-end financial statements prepared from your accounting records, in compliance with Malaysian reporting requirements, but not signed off by an external auditor. These are often used for tax filing or for companies that qualify for audit exemption.
• Audited financial statements
The same set of financial statements, but reviewed and signed by an independent approved auditor. For companies that do not qualify for audit exemption, audited financial statements are required for SSM filing and for tax purposes.
Cloudify prepares accurate management accounts and unaudited financial statements, and we work with licensed audit partners if an audit is needed.
Internal monthly or quarterly reports (P&L, balance sheet, etc.) used by owners to monitor performance and make decisions. They are not filed with SSM or LHDN.
• Unaudited financial statements
Year-end financial statements prepared from your accounting records, in compliance with Malaysian reporting requirements, but not signed off by an external auditor. These are often used for tax filing or for companies that qualify for audit exemption.
• Audited financial statements
The same set of financial statements, but reviewed and signed by an independent approved auditor. For companies that do not qualify for audit exemption, audited financial statements are required for SSM filing and for tax purposes.
Cloudify prepares accurate management accounts and unaudited financial statements, and we work with licensed audit partners if an audit is needed.
How does Cloudify charge for accounting, tax and audit-related services?
Our fees are structured to reflect the size and complexity of your company:
• Accounting / year-end financial statements
From RM500 per year for dormant or very small entities, with tiered pricing for active companies based on transaction volume and reporting needs.
• Tax estimation (CP204) and tax computation (Form C)
Fixed starting fees per submission, adjusted according to the complexity of your business, number of schedules and any additional tax advisory required.
• Statutory audit (via licensed audit partners)
Audit fees are quoted by our partner audit firms after reviewing your latest management accounts, industry and risk profile. Cloudify does not mark up these fees; we coordinate the process and support you with audit schedules and queries.
Before you engage us, we will review your latest management accounts and discuss your status (audit-exempt or not), then issue a clear, written quotation so you know exactly what is included and how the fees are structured.
• Accounting / year-end financial statements
From RM500 per year for dormant or very small entities, with tiered pricing for active companies based on transaction volume and reporting needs.
• Tax estimation (CP204) and tax computation (Form C)
Fixed starting fees per submission, adjusted according to the complexity of your business, number of schedules and any additional tax advisory required.
• Statutory audit (via licensed audit partners)
Audit fees are quoted by our partner audit firms after reviewing your latest management accounts, industry and risk profile. Cloudify does not mark up these fees; we coordinate the process and support you with audit schedules and queries.
Before you engage us, we will review your latest management accounts and discuss your status (audit-exempt or not), then issue a clear, written quotation so you know exactly what is included and how the fees are structured.
