Guide Notes on Submission of Tax Returns
Guide Notes on Submission of Tax Returns – PDF 1. The IRB has released the Filing Program for the year 2022. According to the filing program, the statutory filing and tax payment due dates, as well as the grace period and manner of submission for the various return forms, are all specified. 2. It is […]
Income Tax (Exchange of Information) Rules 2021: Exchange of Information
Exchange of Information – PDF 7
Form CP 21, CP 22, CP 22A & CP 22B
Dated: 15 January 2022 1. The prescribed forms CP21, CP22, CP22A, and CP22B will be in use from 1 January 2022; therefore, the Inland Revenue will not accept any further use of the old version of forms by employers other than those prescribed for in section 152 of the Income Tax Act 1967. 2. Also, […]
Power to call for Bank Information for purpose of making a Garnishee Order Application
Power to call for bank information for purpose of making a garnishee order application – PDF 1. The Inland Revenue is only permitted to request your information from the bank under a garnishee order 2. When it comes to the new Section 106A of the Income Tax Act 1967, we have noticed a lot of […]
Tax Concessions Due to COVID-19 Travel Restrictions expired on 31 December 2021
1. On December 24, 2021, the Inland Revenue Board (IRB) updated the FAQ on International Tax Issues Due to COVID-19 Travel Restrictions (FAQ) and announced: 👉 the Tax concessions Due to COVID-19 Travel Restrictions expired on 31 December 2021 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. 2021年12月24日，税税局 (IRB) 更新了关于新冠肺炎的旅行限制导致的国际税收事项常见问题 [FAQ]，并宣布： 👉 关于新冠肺炎期间的行动限制所给予的税务宽免，于2021年12月31日结束 🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼 10
Tax Treatment – Entities that are Dormant or have not yet started Operations
Entities that are Dormant or have not yet started Operations – PDF 1. Companies, co-operative societies, limited liability partnerships, and trust bodies are all required to file tax returns, even if they are dormant, in the same way, they were in previous years. 2. They do not have to report the estimated tax payable (Form […]
LHDNM responses to clarification sought on FAQ on deferment of CP204 & CP500 installments
LHDNM Responses – Deferment of CP204 & CP500 payment 12
Income Tax (Accelerated Capital Allowance) (Excursion Bus) (Amendment) Rules 2022
1. Excursion Bus purchases made between YA 2020 and YA 2021 are eligible for an Accelerated Capital Allowance (ACA) on capital expenses incurred by licensed tour operators. 2. The ACA given by the Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021 can be claimed within two years, with an initial allowance of 20% and […]
Press Release – 2% Withholding Tax on Payment (Commission) Made To Agent
1. The 2% Withholding Tax that must be withheld from commission payments to agents, dealers, and distributors has been a source of confusion for many businesses. 👉 What exactly is going on? 👉 Is there any news? 👉 Have the Remittance Forms been made available yet? 2. In reality, it appears that many people, maybe […]
Income Tax (Deduction for Expenditure in relation to Vendor Development Programme (VDP) Rules 2022
1. With effect from Year of Assessment 2021, Anchor Enterprises can claim double deductions for eligible expenses made to encourage increased participation in the development of local vendors. 2. The eligible expenditure of up to RM300,000 every assessment year 3. Join our Telegram 👉 https://t.me/YourAuditor/2535 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. 从2021年的评估年开始，为了鼓励更多的人参与本地供应商的发展，锚点企业 [Anchor Enterprises] 所产生的合格支出，将享有双重扣除的资格。 2. 每个评估年度，高达 3百千令吉的合格支出享有双重扣除的资格 3. […]
