SST extension of time for submission of return and payment of tax due on 31 July 2021

Good news for you who are late on SST filing and payment on 31/7/21 as The Royal Malaysian Customs Department (RMCD) has extended SST registered persons from 31 July 2021 to 31 August 201

SST Deadline 31/7/21

Normally, registered manufacturers and registered persons are required to submit their returns (SST-02 forms) and pay SST for the taxable period from 1 May 2021 to 30 June 2021 latest by the statutory deadline of 31 July 2021.

RMCD recently issued a notice dated 11 August 2021 informing that an extension of time until 31 August 2021 will be allowed for those registered manufacturers and registered persons affected by the FMCO to submit their SST-02 forms and make payments of SST.

Grace Period Until 31/8/21

Registered manufacturers and registered persons who are late in the submission of their SST-02 returns and payment of SST due to the FMCO can now apply to the RMCD for remission of these penalties provided that they submit their returns and make payments of SST by the extended deadline of 31 August 2021.

Source RMCD annoucement

https://mysst.customs.gov.my/assets/document/Annoucement/Penghantaran%20dan%20pembayaran%20CJ%20dan%20CP%20bagi%20tempoh%20bercukai%20Mei%20Jun.

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Do you know IRBM will pay taxpayers 2% ''compensation'' on your overpayment of tax?

Operational Guideline Updates: Compensation on Late Refund of Overpayment of Tax

– updated on 21 May 2021 by IRB

What is this operational guideline about?

- This guideline is to give clarification on payment of compensation for late refund of overpayment of tax made by IRB.

- Under Section 111D of the Income Tax Act 1967 (ITA).

What are the criteria for compensation?

1. Submit income tax return form (ITRF) before deadline

o Income tax return form must be submitted on-time, complete and correct.

o On time = within the deadline stated below or within the extended deadline approved by IRB.

• Individual with employment income…Before 30 April

• Individual with business income….Before 30 June

• Company/Limited Liability Partnership/Society….Within 7 months from the date following the close of the accounting period of the business

2. Type of tax payment eligible for tax refund

o Only the following type of payment will get tax refund:

a. PCB: Monthly tax deduction

b. CP500: Installment Payment Notice

c. CP204/CP205: Estimated Tax Payable by Companies/Limited Liability Partnership/Society

3. Timelines of calculation of compensation

o The compensation is calculated on a daily basis, starting from the first day after the period stated as below:

• via E-filling: After 90 days from submission deadline

• via post/courier: After 120 days from submission deadline

How to calculate?

● Compensation of 2% shall be paid in accordance with the following formula:

● =𝑻𝒂𝒙 𝒓𝒆𝒇𝒖𝒏𝒅 ×𝑻𝒐𝒕𝒂𝒍 𝒏𝒐.𝒐𝒇 𝒅𝒂𝒚𝒔 𝒍𝒂𝒕𝒆 𝟑𝟔𝟓/𝟑𝟔𝟔 𝒅𝒂𝒚𝒔 × 2%

Taxpayers who are not eligible to be paid compensation

1. Tax return submitted after the due date in accordance with the ITA.

2. Tax set off under Section 110 of the ITA is in excess of tax payable.

3. Assessment raised by IRB under Sections 90(3), 91, 91A, 92 and 96A of the ITA.

4. Taxpayer applied for extension of time for submission of tax return.

5. There's an appeal against the assessment.

6. There is additional tax payable from IRB audit during the 90 or 120 days from submission deadline.

7. The excess tax paid are not from instalment payments under Sections 107, 107B and 107C of the ITA.

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[TAX UPDATE on SPC]

Must know for closing Company

On 03 June 2021, LHDN has issued an Operational Guidelines GPO3/2021 on updates of “Surat Penyelesaian Cukai”(SPC) to replace GPO2/2019.

What is SPC?

SPC is a tax clearance letter to notify taxpayer that there is no outstanding tax payable.

This letter must be obtained before closing your Company’s tax file at LHDN.

THREE (3) updates on GPO 3/2021:-

1. there is a new format for SPC application form.

2. before LHDN issue SPC tax clearance letter, tax audit case must be closed and completed.

3. SPC will be released within 14 working days after all documents have been furnished and no outstanding issue with LHDN.

WHAT IS THE REQUIREMENT FOR ISSUING SPC?

v Complete application forms and documents

v Submitted latest Form C & Form E

v No audit disputes

v No tax arrears

v No outstanding on employee's PCB

v No pending law actions on criminal/civil case

Source:

GPHDN 3/2021 - Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan

http://phl.hasil.gov.my/pdf/pdfam/GPO_3_2021.pdf

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What is the main purpose of partnership agreement in your tax ?

Story of tax case

- The taxpayer operated 2 petrol stations which were registered as a sole proprietorship.

- However, the business carried out by way of partnership with his 2 children:

i. taxpayer declared 50% share of profits

ii. his children declared the remaining profits

Tax issue

- DGIR had rejected the claim of partnership because no evidence of partnership had been furnished during an audit.

- Additional assessment was raised on the taxpayer as a sole proprietor and the assessments on his two children were accordingly reduced.

Taxpayer’s argument

- During the hearing, Partnership Agreement was provided by taxpayer to claim as evidence of partnership.

- Therefore, the income derived from the business was assessable as a partnership.

DGIR’s argument

- Taxpayer failed to prove any participation in the capital or other significant contribution by partners

- DGIR has no basis to raise the assessment on a partnership because the return form for partnership (Form P) was not filed.

Therefore, the income from the business was correctly assessed as a sole proprietor.

High court

The High Court allowed the DGIR’s appeal and confirmed the additional assessments raised by the DGIR.

Why a partnership agreement is important?

The partnership agreement includes the details terms of the partnership and outlines important information between the partners.

For example:

1. Capital contribution

2. Profit distribution

3. Rights and duties of the partners

4. Conduct and management of the firm

What if there is no partnership agreement?

If there is no partnership agreement, the partnership rules will follow the Section 26 of Partnership Act 1961.

It included, but not limited to the followings:

1. Partner will share the profits and losses in the business equally.

2. No interest on the capital if no profit

3. 8% interest will be charged on loan from partner (other than capital contribution).

4. Partners are not allowed to draw a salary

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3 simple ways for 100% tax deduction on your donation in Malaysia.

一方有难，八方支援，

最近，看到很多慷慨人士都乐于捐款，雪中送炭。

如果捐款又能扣税，岂不美哉。

Recently, many peoples are actively making donations and great contributions to society.

But, can we enjoy a tax deduction for this donation?

我要怎么知道捐款是否可以拿来扣税呢？我要上哪里看？可以到以下LHDN 官网输入机构名字查询。

May refer to the link below to check whether your donation is tax-deductible.

http://www.hasil.gov.my/bt_goindex.php?bt_kump=2&bt_skum=6&bt_posi=1&bt_unit=8&bt_sequ=1

捐款收据必须包括以下资料才符合扣税资格: 

The official receipt must include the following information in order for tax deduction: 

1 机构名字和地址  Name and address of institution  

2 收据编号Printed serial number 

3 日期 Date 

4 捐款人姓名，IC/Passport ，公司注冊號  Donor’s name, IC/Passport, business registration number 

5 捐款数额Amount of donation 

6 收款人职位Collector’s designation 

7 收据上注释Stated with following note:  (See the attachment as above) 

但扣税额度是有限制的： 

Do you know the donation to the organization are tax deductible when donate to approved organization under subsection 44 (6) of Income Tax Act 1967? 

However, there is restriction on allowable deduction for different level: 

个人所得税 Personal tax 

From YA 2020, restriction on allowable deduction increased from 7% to 10% of aggregate income  

公司所得税 Company tax  

Restriction on allowable deduction 10% of aggregate income   

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IRBM Newsletter July 2021

Beware taxpayers!

Look like the tax authority will focus on the following tax issues in July IRB official newsletter

1. Digital business

2. Tax clearance letter (TCL)

Digital business

Digital business refers to economic activities that use digital technology. Any business transaction conducted through digital technology is considered as a digital business, even if the payment and delivery related to the transaction is physically conducted.

Individuals or companies that engage in digital businesses in Malaysia are subject to the Income Tax Act 1967. Examples of the digital business sectors are:

a) Retail: dropship, agents, stockists and others

b) Healthcare: sale of healthcare products

c) Advertising: Bloggers, Instafamous, Youtubers, Live Streamers

Tax clearance letter (TCL)

Tax Clearance Letter (TCL) is a certificate issued by the IRBM to employers related to the income tax of employees, who are about to cease an employment / retire / want to leave Malaysia or employees who have died. For individuals who receive income other than employment, the heir or appointed executor is responsible for making a tax settlement in the event of the taxpayer's death.

The employer must inform the IRBM not less than 30 days before the date of termination / retirement / the employee is expected to leave Malaysia, or not later than 30 days after being notified of the employee's death.

The employer also must withhold any part of the money that will or can be paid to the employee until receiving the TCL from the IRBM.

The application for tax clearance can be made via:

a) e-SPC via the MyTax link (by employers only)

b) Manual submission to the IRBM branch that handles the relevant

individual tax file, using the following application forms:

i) CP22A: For private employees

ii) CP22B: For civil servants

iii) CP21: Employees who will leave Malaysia

Feel free to read our past sharing on tax clearance letter :

a) e-SPC via the MyTax link (by employers only)

What is the MyTax app? 你知道什么是“MyTax”吗?

https://www.facebook.com/512614135447552/posts/5116826965026223/

b) 8 out 10 HR don’t do this for IRB (According to our experience)

https://www.facebook.com/512614135447552/posts/4846405612068361/

c) Employer Tax Obligation under Income Tax Act - Resignation & New Employee

https://www.facebook.com/512614135447552/posts/4934567523252169/

Source :

IRB July newsletter

http://phl.hasil.gov.my/.../e_Newsletter_Hasil_Edition_7...

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What You Need to Know About the Tax Incentive on Assets During This Pandemic?

Overview

On 09.06.2021, The Minister issue a gazette order Income Tax (Accelerated Capital Allowance) (Machinery and Equipment Including Information and Communication Technology Equipment) Rules 2021 that allows higher Capital Allowance (“CA”) rate.

Key takeaway

You will understand the:

· Accelerated Capital Allowance (ACA)

· Information and communication technology equipment (“ICT Equipment”)

· Rate of claiming ACA

· Effect for year of assessment

What is Accelerated Capital Allowance (ACA)?

The Accelerated Capital Allowance (ACA) is a tax incentive scheme that allowed taxpayer to claim a higher rate in the purchase of information and communication technology equipment (“ICT Equipment”).

What is information and communication technology equipment (“ICT Equipment”)?

ICT Equipment means information and communication technology equipment as specified in the following:

ü Access control system;

ü Banking systems;

ü Barcode equipment;

ü Bursters / decollators;

ü Cables and connectors;

ü Computer Assisted Design (CAD);

ü Computer Assisted Manufacturing (CAM);

ü Computer Assisted Engineering (CAE);

ü Card readers;

ü Computers and components;

ü Central Processing Units (CPU);

ü Storages;

ü Screens;

ü Printers;

ü Scanners / readers;

ü Accessories; and

ü Communication and networks

Accelerated Capital Allowance allowed taxpayer to claim the ICT Equipment as follow:

a. Initial allowance: 20% of the QE incurred

b. Annual allowance: 40% of the QE incurred (Normal CA rate is at range of 10% to 20%)

* Qualifying expenditure (“QE”) means amount incurred on purchase of plant or machinery used for the purpose of a business with an expected useful life of more than two (2) years that can claim capital allowance.

Effect for the year of assessment:

These rules are effective from the year of assessment 2020 with incurred the qualifying expenditure from 1 March 2020 until 31 December 2021.

Source:

Income Tax (Accelerated Capital Allowance) (Machinery and Equipment including Information and Communication Technology Equipment) Rules 2021

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What Happens to My Factory When I Rent It Out as I cannot tahan the impact on Covid 19?

We hear you.

Here it goes, sharing with you on ''How to Account for a Factory in Accounting and Tax?''

Accounting implication - Classification

The property would be classified under investment property as their change their intention of holding this building.

Accounting implication - Measurement

The property will be valued at cost, as the client has no intention to determine the market value of the building, due to undue cost or effort

Tax implication- Rental income

The rental income derived from the building will be treated as s4(d) income. as the client does not actively provide maintenance to the tenant. However, the first rental income starts from xxx 2021.

Tax implication-Expenses related to building

According to the PR 12/2018, expenses in respect of a period before the real property is let out are not deductible and have to be adjusted proportionately.

After rented out:

The expense which is allowed a deduction from income of letting of the real property charged to tax under paragraph 4(d) of the ITA is the direct expense that is wholly and exclusively incurred in the production of income under subsection 33(1) of the ITA.

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RMC announcement -Extension of time for submission of return and payment of tax due on 30 June 2021

The Royal Malaysian Customs Department (RMC) has recently allowed extension of time until 31 July 2021 for submission of SST-02 form and payment of SST to SST registered persons/manufacturers affected by the MCO 3.0.

The extension of time for submission of SST-02 form and payment of SST is done by waiving the penalties arising from the late submission of SST-02 form and payment of SST.

Registered persons/manufacturers who are late in the submission of their SST-02 returns and payment of SST due to the MCO3.0 can now apply to their respective zone/state RMCD offices for waiver of penalties on the late submission returns and payment SST.

In other words, the waiver of penalties require application in writing to RMC.

It is not automatic given to register persons/manufacturers.

Source
RMC announcement on 9/7/21

http://www.mysst.customs.gov.my/assets/document/Annoucement/Penghantaran%20dan%20pembayaran%20CJ%20dan%20CP%20bagi%20tempoh%20bercukai%20April%20Mei.pdf

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We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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Auditor 最怕遇到的大便账 ... 老板说他朋友讲

老板朋友说新的有限公司 got 所得税回扣 (Tax Rebate) RM20,000 x 3年! 老板朋友这个方法一定行得通! 附送 double entry !

KTP 华语版的新的有限公司所得税回扣

https://www.facebook.com/512614135447552/posts/4707812805927643/

KTP 英文版的新的有限公司所得税回扣

https://www.facebook.com/512614135447552/posts/4707820429260214/

Auditor 最怕遇到的大便账 终极版

https://www.facebook.com/512614135447552/posts/5750415295000717/

KTP auditor 被骂 大便 auditor 终极版

https://www.facebook.com/512614135447552/posts/5755618914480355/

PS : 如有雷同 纯属巧合

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KTP (Audit, Tax, Advisory)

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𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

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IRB has issued an updated FAQ on Deferment of Tax Instalment Payment under PEMERKASA dated 28 June 2021.

The updated FAQ to allow companies which are not in the tourism sector to also apply for deferment of instalment payments.

The FAQs refer to the application for deferment of CP204 (a monthly instalment of tax estimates) and CP500 (bi-monthly instalments for individuals) for taxpayers whose business codes fall outside of the specified business codes which relate to tourism.

Taxpayers which businesses are affected, may submit an application for deferment to the IRB, supported with the relevant documents to:

• cp204pemerkasa@hasil.gov.my for applications for deferment of CP204 instalment payments for the months of April 2021 to December 2021

• cp500pemerkasa@hasil.gov.my or to the IRB branch handling the case, for applications for deferment of CP500 instalment payments for the months of May, July, September and November 2021.

• Or talk to us if we are your tax agent

Applications will be considered based on the merits of each case.

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• Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

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• Linkedin https://bit.ly/3sapf4l

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𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

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𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

Key takeaway

You will understand:

1. What is Monthly Tax Deduction (MTD)?

2. Who is eligible to treat MTD as Final Tax?

3. What is the requirement?

4. Any application needed?

5. What is the consequence of non-compliance?

Summary of learning

1. What is Monthly Tax Deduction (MTD)?

Monthly tax deduction is also known as “Potongan Cukai Bulanan (PCB)”.

This is a deduction mechanism for employer to deduct the employee's monthly remuneration for the purpose of paying the employee's income tax.

2. Who is eligible to treat MTD as Final Tax?

Taxpayers who have employment income only and MTD has been deducted are given an option for not to submit the Income Tax Return Form (ITRF) via e-Filing or manually.

3. What is the requirement?

· There is only employment income received in the current year including any previous year’s employment income.

· Served with the same employer.

· Taxes are not borne by the employer.

· Husband or wife does not make the choice to be assessed jointly under Section 45 of the Income Tax Act 1967.

· MTD is deducted in accordance with the Income Tax (Deduction From Remuneration) Rules 1994 and included Benefit in Kind(BIK) and Value of Living Accommodation (VOLA).

4. Any application needed?

Taxpayer who meets the requirements and does not submit the ITRF after the due date:-

· will be deemed to choose not to file the ITRF

· the MTD will be deducted against the tax payable for the year of assessment

· no tax refund can be claimed if there is any excess of tax paid in his MTD

5. What is the consequence of non-compliance?

The Director General of Inland Revenue (DGIR) retains the power to disregard the total amount of MTD deducted as the final tax payable and raise a deemed assessment or an additional assessment penalty as followings: -

· Imposed the penalty under subsection 112(3) of the Income Tax Act 1967

· Raise an estimated assessment under Subsection 90(3) of the Income Tax Act 1967

Sources

Layanan Cukai Ke Atas Cukai Muktamad - http://phl.hasil.gov.my/pdf/pdfam/NA_1_2021.pdf

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• Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

• Instagram https://bit.ly/3jZuZuI

• Linkedin https://bit.ly/3sapf4l

• Telegram http://bit.ly/3ptmlpn

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

• Youtube http://bit.ly/3ppmjyE

• Facebook http://bit.ly/3ateoMz

• Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

延税攻略 - 终极版 2021 

Read the full story in our blog
https://www.ktp.com.my/blog/tax-deadline-extension-2021-chinese/27june2021

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• Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

• Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

• Instagram https://bit.ly/3jZuZuI

• Linkedin https://bit.ly/3sapf4l

• Telegram http://bit.ly/3ptmlpn

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

• Youtube http://bit.ly/3ppmjyE

• Facebook http://bit.ly/3ateoMz

• Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

Extension of time (EOT) for tax filing and payment

Inland Revenue Board Malaysia (“IRBM”) has updated the 2021 Return Form Filing Programme on 26 June 2021.

A 2-month grace period has been given for the submission of the tax returns for the following group of taxpayers:-

Personal tax

For the submission of Forms B, P, BT, M, MT, TF, TP and TJ (individuals, partnerships, associations, deceased persons’ estate and Hindu Joint Families who carry on business) as well as for the payment of the balance of tax payable (if any) for the year of assessment (“YA”) 2020 :

Statutory deadline : 31/06/21

Extended deadline : 31/08/21

Company tax

For the submission of Forms C, C1, PT, TC, TA, TR and TN (companies, cooperative societies, limited liability partnerships and trust bodies) as well as for the payment of balance of tax payable (if any) for the accounting periods ending 1 October 2020 to 31 January 2021

Kindly refer to the below for the extended deadline.

Source :

IRB anncoucement http://phl.hasil.gov.my/pdf/pdfam/ProgramMemfailBN_2021_Pin.3_2.pdf

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• Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

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KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

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• Linkedin https://bit.ly/3sapf4l

• Telegram http://bit.ly/3ptmlpn

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

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• Facebook http://bit.ly/3ateoMz

• Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

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How to apply pin number for e-filing?

Step 1:

Visit LHDN customer feedback via https://maklumbalaspelanggan.hasil.gov.my/MaklumBalas/en-US/

Step 2:

Select “Application”

Step 3:

Download the form

-CP55D for individual registration

-CP55B for organization registration

Step 4:

Click “Next”

Step 5:

Fill in the information required:

a) Sender information

b) Taxpayer information

Step 6:

a) Fill in the info at “Feedback category”

b) Upload CP55D (individual) or Upload CP55B (organization)

Step 7:

Click “Submit”

Step 8:

Receive “Submission Number”

Step 9:

Check the “feedback status” with the submission no. and NRIC after 7 working days

Step 10:

Received the “No.Pin e-Filing” by email

Step 11:

Select the link and Click “Log kali Pertama” https://ez.hasil.gov.my/ci/Login.aspx?page=14

Step 12:

Fill in the “No Pin e-Filing” and NRIC No.

Step 13:

Click “Hantar” and you will need to reset your own “password”

You can log in to LHDN website through your password now!!

Source:

Applying for the e-Filing pin number http://lampiran1.hasil.gov.my/pdf/pdfam/TatacaraPermohonanNoPineFiling_2.pdf

User Manual No. Pin Application & First Time Login https://ez.hasil.gov.my/ci/Panduan/PanduanCI_PermohonanNoPIN_e%20V1.2.pdf

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KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

• Instagram https://bit.ly/3jZuZuI

• Linkedin https://bit.ly/3sapf4l

• Telegram http://bit.ly/3ptmlpn

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

• Youtube http://bit.ly/3ppmjyE

• Facebook http://bit.ly/3ateoMz

• Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

Overview

Taxpayers are allowed to make amendment on the information or assessment for the submitted Tax Return Form(TRF) under Section 77B of the Income Tax Act 1967 (ITA 1967) or Section 30B of Petroleum (Income Tax) Act 1967 (PITA 1967) by using the Amended Return Form (ARF).

Key takeaway

You will understand:

• Rules of submission

• Terms for submission

• Rate of increase in tax

• Method of submission

Summary of learning

Taxpayers are allowed to make amendment when there is:

• Understate of income / unreported income

• Expenses over claimed

• Capital allowances / incentives/ relief over claimed

The amendment limit to once for a year of assessment.

The amendment is disallowed if the Director General of Inland Revenue (DGIR) has made amended assessment for the submitted TRF.

What are the terms for submission ARF?

ARF must be submitted within 6 months from the due date of TRF

A duly completed ARF must state:

• the amount / additional amount of chargeable income

• the additional tax payables

• the amount of tax payable on the tax which has or would have been wrongly repaid;

• the increased sum ascertained in accordance with subsection 77B (4) of ITA 1967 or subsection 30B(4) of ITA 1967;

• other contains required by the DGIR.

What is the rate of increase in tax?

The additional tax payable amount in ARF is subject to an increase in tax of 10%.

The formula = the amount of such tax payable or additional tax payable x 10%.

The total tax payable amount must be paid at the same date of ARF is submitted.

What are the methods for submission ARF?

ARF can be submitted in the following ways:

• Online e-filing (only for corporate taxpayer: Form C)

To visit https://mytax.hasil.gov.my > click e-Filing > click e-Form > choose e-BNT C

• Manual filing

  - download ARF on Lembaga Hasil Dalam Negeri (LHDN) website:

  To visit http://www.hasil.gov.my > Forms > Download Forms (in Malay Version) > Handle the completed ARF to LHDN branch

Sources

GPHDN 1/2020: - Procedure on submission of Amended Return Form

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• Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

• Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

• Website www.ktp.com.my

• Instagram https://bit.ly/3jZuZuI

• Linkedin https://bit.ly/3sapf4l

• Telegram http://bit.ly/3ptmlpn

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

• Tiktok http://bit.ly/3u9LR6Q

• Youtube http://bit.ly/3ppmjyE

• Facebook http://bit.ly/3ateoMz

• Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

• Instagram https://bit.ly/3u2PxHg

• Facebook http://bit.ly/3rPxz9o

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

• Website www.thks.com.my

• Facebook http://bit.ly/3duvQ5z

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers