LHDN Responses to CTIM Comments on FAQ on 2% Withholding Tax Deducted from Payment by Payer Company
1. Following the publication of a frequently asked question (FAQ) by the Inland Revenue Department (IRD) on the 2% withholding tax deducted from payments made by payer companies to agents, dealers, and distributors, the CTIM wrote to the Inland Revenue Department on 5 April 2022 requesting clarification on a number of points that had been […]
1 – Overview
1. The Inland Revenue Board has published a frequently asked questions document on the 2% Withholding Tax on payments made by a company to agents, dealers, or distributors under Budget 2022. 2. Note that it is already in force. However, to ensure that all paying companies are able to make appropriate preparations and notify their […]
2 – Meaning of Agents, Dealers, and Distributors
1. The Inland Revenue Board has published a frequently asked questions document on the 2% Withholding Tax on payments made by a company to agents, dealers, or distributors under Budget 2022. 2. Agents, dealers, and distributors are individual tax residents whom the paying company authorizes to act as agents, dealers, and distributors and receive payments […]
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 […]
