𝐔𝐩𝐝𝐚𝐭𝐞 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐥 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 (𝐁𝐎) 𝐏𝐚𝐫𝐭 𝐈𝐈𝐈 : 𝐂𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐟𝐨𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲

Key areas IRB will impose tax penalty on Sdn Bhd

There is different identifying criteria for a company limited by shares and that of a company limited by guarantee.

The individual who is the beneficial ownership would meet one or more of the following criteria (see paragraphs 27 to 30 of the guideline).

𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐁𝐲 𝐒𝐡𝐚𝐫𝐞𝐬

🎗Has interest, directly or indirectly, of not less than 20% of the shares of the company.
🎗Holds, directly or indirectly, not less than 20% of the voting shares of the company.
🎗Has the right to exercise ultimate effective control whether formal or informal over the company, or the directors or the management of the company.
🎗Has the right or power to directly or indirectly appoint or remove a director(s) who holds a majority of the voting rights at the meeting of directors.
🎗Is a member of the company and, under an agreement with another member of the company, controls alone or through the cumulative effect of the agreement a majority of the voting rights in the company.

𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐛𝐲 𝐆𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞

🎗Has the right to exercise ultimate effective control, whether formal or informal, over the company, the directors or the management of the company.
🎗Has the right or power to directly or indirectly appoint or remove a director.
🎗Has the right to exercise, or actually exercises ultimate effective control over the company.

For more information, click here:

𝐒𝐒𝐌 𝐨𝐟𝐟𝐢𝐜𝐢𝐚𝐥 𝐰𝐞𝐛𝐬𝐢𝐭𝐞
https://www.ssm.com.my/…/Guidelines%20for%20BO%20Reporting%…

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SecKtp KtpAugust 17, 2020BO, SSM, Benficial Ownership

𝐔𝐩𝐝𝐚𝐭𝐞 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐥 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 (𝐁𝐎) 𝐏𝐚𝐫𝐭 𝐈𝐈𝐈 : 𝐂𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐟𝐨𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲

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