When starting a business in Malaysia, it’s essential to select the correct business code, also known as the Malaysia Standard Industrial Classification (MSIC) code. This code consists of five digits and helps to categorize businesses into specific industries. The MSIC code is utilized by government bodies and other organizations to gather statistical data on various industries. 

The MSIC code is used in both income tax and SSM (Companies Commission of Malaysia) registration processes. For income tax purposes, the MSIC code identifies the type of business activity and industry that the business engages in. Accurate identification is vital as it affects tax obligations. For SSM registration, the MSIC code classifies the business according to its primary activity. This information determines the type of business registration required and the licenses and permits necessary for operating the business legally.

Therefore, it’s crucial to select the correct MSIC code that accurately represents your primary business activity when registering your business with SSM and reporting your income tax. Conducting thorough research to identify the most appropriate code is essential as it will impact how your business is regulated and perceived.

If you’re unsure about which business code to select, it’s advisable to consult a professional or seek assistance from the relevant authorities.

Note : If you’re uncertain about the accuracy of your code, it’s recommended that you seek professional assistance.