Requirements for Company Tax Payments for E-Filing in Malaysia’s Year of Assessment 2018

Submission of Estimated Tax Payable via E-filing in Malaysia for Year of Assessment 2018

The Inland Revenue Board of Malaysia (IRBM) has announced that in accordance with subsection 107C (1A) 107C (7A) of the Income Tax Act 1967 (ACP 1967), every company taxpayer is required to submit an Estimated Tax Payable (Form CP204) and Budget Amendment (Form CP204A) for the Year of Assessment 2018 onwards via e-Filing.

 

Filing of Tax Payments via Electronic Transmission

Under subsection 107C(7A) and for the purpose of subsections (1) and (7), a company must provide the estimate of its tax payable on an electronic medium. This includes an estimate or a revised version of the estimate. This must be submitted via electronic transmission. Those liable include trust bodies, limited liability partnerships, or co-operative societies that must file their tax payments via electronic transmission in accordance with section 152A.

Hence, if the company chooses to submit the CP204 and CP204A forms manually (via paper method), it will be assumed as NOT RECEIVED for this purpose under subsection 107C (7A) of the ITA 1967. A company must submit Form CP204 to IRBM no less than 30 days before the start of the basis period for the year of assessment.

 

Penalty for Non-compliance 

Company failure to comply with the provisions of the law is an offense under subsection 120 (1) (f) of the ITA 1967. The company can be fined no less than RM200.00 and not more than RM20,000.00, or imprisonment for a term not exceeding six months or both.