GST TAP System Now Charges Penalties Automatically As now is the tax season, there are things that you need to keep in mind. One of the important things you need to know is the penalty for late payment. If you file or pay late, or you do not file at all, you owe penalties and…
e-Filing of Form CP204 AND CP204A For the purpose of tax administration, the IRB has confirmed that SMEs are still required to submit the Form CP204 within the stipulated deadline but without any estimate of tax payable. Furthermore, the IRBM has announced that companies are required to furnish Form CP204 and CP204A via e-Filing with…
Tax Filing Programmes for Income Tax Return in the Year 2016 The Inland Revenue Board has issued a filing programme for Income Tax Return Forms in the year 2016. Here’s some quick information for tax payers. What’s my deadline for filing taxes? Which form do I fill? 30 April 2017 for individuals without business…
Update on GST and commercial property in Malaysia Do you know that you need to register for GST when investing in commercial property? It is a crucial step in your investment roadmap. However, some investors might forget to include GST into their budget and this is a big mistake- because the figures involved can be…
Amendments To Form E, CP8D, EA & EC in Respect of Remuneration for The Year 2016 The IRB has recently updated the following: Filing program for 2017 tax returns 2016 version of Forms EA, EC and CP 8D (employer related) With regards to the amendments of Form C.P.8D and Form EA / EC, the improvements…
Personal Income Tax Filing Season for YA 2016 in Malaysia Time to file your Malaysia personal tax return Under the self-assessment system which is based on the concept of “File and Pay”, individuals are required to: File their completed income tax return forms to the Inland Revenue Board (IRB) together with the payment of…
Pay Your Tax on Time and Accurately What will happen if our tax payment is not on time, inaccurate or maybe we did not pay the tax? Will it affect our daily life routine? As all of us noticed, without the aid of technology, the result of IRB tracking for those who didn’t pay their…
IRBM Public Ruling No. 7/2016 We are hereby informed that the Inland Revenue Board of Malaysia (IRBM) has, on 7 October 2016, issued Public Ruling (PR) No. 7/2016: Basis Period for Companies Under Liquidation. The objective of this PR is to explain the determination of the basis period for companies under liquidation. Related Links…