http://forum.lowyat.net/ Thu, 18 Jun 2026 17:00:08 +0800 FeedCreator 1.7.2 http://forum.lowyat.net/topic/4224393 Hi all&#33; <br /><br />I am currently in this situation. I need help from accounting and secretarial firms bros and sis&#33;<br /><br />1) I am a shareholder and director of a Sdn Bhd company.<br />2) My intention is to leave business and to overseas working.<br />3) I will renounce myself from the director position in the company.<br />4) My company have 4 shareholders, each holding 25% of shares.<br /><br />Question i needed bros &amp; sis to help me through is.<br /><br />1) Per say if i retained my share in the company (not selling to any shareholders), if the company lands in legal actions/taxation penalty/bad debts. Am i still hold accountable as a shareholder?<br /><br />2) Its almost coming to the LHDN tax declaration period. If i now renounce myself as a director and retain my share. Given if the company gets penalty from the LHDN am i still hold accountable?<br /><br />3) What if i sold off all my share and renounced myself as director (clean cut with the company) do i still hold accountable for the penalty if the company fails to declare the 2016 company taxes to be filed in 2017?<br /><br />My intention is:<br /><br />1) I wanted worry and legal free while retaining my share in the company. (If permissable)<br />2) I have foreseen the company would be in a tight situation to declare taxes for 2016 as there are no proper accounting/bills/payment voucher has been filed. Only bank statements of monies cheques bank in and cheques out. (Due to inexperienced of s/b company taxation rules)<br />3) I dont want to come back to Malaysia in two years time and and found out i have landed in hot soup due to taxation legal actions while i&#39;m away. <br /><br />Appreciate that if someone would guide me to which would be a best choice based on my intentions. <br /><br />Thank you for your time due to the long post&#33; <br /><br />(I couldnt sleep at night &lt;4am when i&#39;m posting this&gt; due to this issue. Really appreciate if someone would enlighten me of this anxiety, stress and feeling of lost...) bahamuttiong Finance, Business and Investment House Thu, 16 Mar 2017 04:07:43 +0800