I'm from Malaysia, I dont know if the law here works the same but I do have a few question. I'm still developing a free mobile game that I'm planning to publish on Android PlayStore. It'll be a free to play game with ads. My current concerns are
1. Tax, if I make any revenue from this game. How do I deal with them?
2. Should I open a new account specifically for the revenue? Do I open a bank account as a company?
I have a fair amount of experience with mobile games, but the fact that you are from Malaysia means not much will apply to you. If you want easy record keeping and you are going to does this as a business I would suggest having a separate bank account for any revenue you take in.
However, please read up on your local laws.
... so for now opening a separate bank account is a must.
No one said that. For some, it's simply more convenient.
... from Malaysia... developing... a free to play game with ads. My current concerns are 1. Tax, if I make any revenue from this game. How do I deal with them?
Doesn't the Malaysian Government have its own website or office branch to help explain your obligations? Taxation is always a little different in every country, so it's best to get official information.
