fbpx

bookkeepers.my

Compliance Officer

Compliance Officer

Each PLT company must have a Compliance Officer, it is a requirement by law under Limited Liability Partnership Act 2012 (‘the Act’).

Super Service

Roles & Responsibilities

There is no need to hire external company secretary. One of the partners of the PLT can be the Compliance Officer. He/she does not have to be professionally qualified. The Compliance Officer must be resident in Malaysia.

The Compliance Officer will be responsible for doing all acts, matters and things as are required to be done by the PLT with statutory bodies like SSM and LHDN.

The following are the duties of Compliance Officer specified under the Limited Liability Partnership Act 2012:

  1. To maintain proper register of partners & compliance officer,
  2. Ensure submission of annual declaration to SSM every year,
  3. Keep the partnership agreement and any supplementary agreement/resolutions,
  4. Maintain a registered office for communication and correspondence between SSM and the PLT,
  5. Keep the Certificate issued by SSM,
  6. Ensure that proper accounting records are kept at the registered office,
  7. Keep any instrument of charges,
  8. Ensure that the PLT name and registration number are displayed outside the registered office and place of business.

The Compliance Officer is also responsible for governance under the Income Tax Act 1967 such as

  1. To keep complete accounting records of PLT for at least 7 years,
  2. Submit the tax return Form PT every year,
  3. Prepare and submit estimation of tax every year,
  4. Notify LHDN if there is any changes of accounting period,
  5. Ensure tax is paid to LHDN when due,
all-digital

Penalty for Non-Compliance

The Compliance Officer shall be personally liable to all penalties including administrative penalties imposed on the PLT for non-compliance of the Act.

Back