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Form E & EA FAQ

Form E & EA FAQ
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Form E 101

Form E 2022 - HR/ACCOUNT 们别错过了我们为您准备的常见 Form E 问题！

⚠️有些什么更新 ❓

⚠️又有些什么常见问题呢❓

阅读我们过去在 Facebook 上的 E/EA 表格上的分享 :

1) Tax Filing Deadline 2022 Malaysia dated on 10/01/2022

https://bit.ly/3r5k2go

2) E呈报(E Filing)Form E 终极秘籍 dated on 15/03/2021

https://bit.ly/35pjcm9

3) 温馨提示 - Form E 截至日期为31/03/2021 dated on 12/03/2021

https://bit.ly/35wKebq

4) Form EA 有什么? Dated on 22/02/2021

https://bit.ly/3g1LQMg

5) 花红几时需要报进Form EA? Dated on 16/02/2021

https://bit.ly/349JSGZ

6) 公司给员工红包可不可以扣税? Dated on 10/02/2021

https://bit.ly/3KPMI4G

7) Deadline for Form E submission is approaching! dated on 09/02/2021

https://bit.ly/3KMqsZL

8) 是时候呈报𝐅𝐨𝐫𝐦 𝐄了，让我们为您复习一遍！dated on 28/01/2021 各位雇主与员工请注意！！！

https://bit.ly/3u4aSCz

9) 你知不知道 ... IRB不再打印+发E表格(Form E) 给雇主! Dated on 25/01/2021

https://bit.ly/349K4pH

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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)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.

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Update of withholding tax

Update of withholding tax
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Key Update of Withholding Tax for past 5 years

Summary of update in withholding tax for the past five (5) years

1. Tax Update on Withholding Tax dated 07.11.2022

https://www.ktp.com.my/.../tax-update-on.../07nov22

2. Small Value Withholding Tax Payment (update) dated 07.10.2022

https://www.ktp.com.my/.../small-value.../07oct22

3. Small Value Withholding Tax Payment dated 19.08.2022

https://www.ktp.com.my/.../small-value.../19aug22

4. (Update) 2% Withholding Tax on Commission to Agents dated on 12.07.2022

https://www.ktp.com.my/.../2percent-withholding.../12july22

5. (Latest update) Withholding Tax on Payments to Agents dated 21.04.2022

https://www.ktp.com.my/.../2percent-withholding.../21apr22

6. Withholding Tax on Payments to Agents dated 17.03.2022

https://www.ktp.com.my/.../2percent-withholding.../17mar22

7. Top 5 Withholding Tax Questions dated 28.01.2022

https://www.ktp.com.my/.../top-5-withholding-tax.../28jan22

8. 2% withholding tax on commission dated 30.12.2021

https://www.ktp.com.my/.../2-withholding-tax-on.../30dec21

9. (English Version) Do you know how to reduce withholding tax with the certificate of residence (COR)? Dated 23.11.2021

https://www.ktp.com.my/.../certificate-of.../22nov21

(Chinese Version) 您知道如何使用居住证 (COR) 减少预扣税吗？dated 23.11.2021

https://www.ktp.com.my/.../certificate-of.../22nov21

10. (English Version) Budget 2022 – SME edition dated 18.11.2021

https://www.ktp.com.my/.../tax-budget-2022-sme.../18nov21

(Chinese Version) 2022 年预算摘要 - 中小企业版dated 19.11.2021

https://www.ktp.com.my/.../tax-budget-2022-sme.../19nov21

11. 两个重要改变 - 预扣税（withholding tax）dated 11.11.2021

https://www.ktp.com.my/blog/withholding-tax-malaysia/11nov21

12. Purpose and usage of certificate of residence under withholding tax in Malaysia dated 23.04.2021

https://www.ktp.com.my/.../certificate-of.../23april2021

13. 马来西亚预扣税 (𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱)的规则概述(第3篇) dated 21.09.2020

https://www.ktp.com.my/.../fwwses3ezyrg9gf-7r8xl-aaa5d...

14. 马来西亚预扣税 (𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱)的规则概述(第2️⃣篇) dated 21.09.2020

https://www.ktp.com.my/.../fwwses3ezyrg9gf-7r8xl-aaa5d...

15. 马来西亚预扣税(withholding tax)的规则概述 (第1️⃣篇) dated 21.09.2020

https://www.ktp.com.my/.../fwwses3ezyrg9gf-7r8xl-aaa5d...

16. Withholding Tax In Malaysia Part 2 of 2 dated 28.06.2019 (eKTP 114)

https://www.ktp.com.my/.../withholding-tax-in-malaysia...

17. Withholding Tax In Malaysia Part 1 of 2 dated 28.06.2019 (eKTP 113)

https://www.ktp.com.my/.../withholding-tax-in-malaysia...

18. Withholding Tax Part 3 of 3 dated 13.10.2017 (eKTP 45)

https://www.ktp.com.my/blog/withholding-tax-part-3-of-3

19. Withholding Tax Part 2 of 3 dated 06.10.2017 (eKTP 44)

https://www.ktp.com.my/blog/withholding-tax-part-2-of-3

20. Withholding Tax Part 1 of 3 dated 28.09.2017 (eKTP 43)

https://www.ktp.com.my/blog/withholding-tax-part-1-of-3

Authored by Mqteo, audit and tax associates of the Firm.

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

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.

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Common mistakes in Form EA : Benefits-In-Kinds (BIK)

Common mistakes in Form EA : Benefits-In-Kinds (BIK)
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Common mistakes in Form EA : Benefits-In-Kinds (BIK)

Overview

Must living accommodation provided by Company be declared under Form E and Form EA? How’s the declaration affect the tax of the director or employee?

Besides, what is the determination of the value of the living accommodation(VOLA) for employees and directors?

Let’s have a quick look below for more information on the benefit of living accommodation.

Key takeaways:

You will understand:

1. What consider the benefit of living accommodation?

2. What is the tax treatment for living accommodations?

3. How many categories of the value of living accommodation?

4. How to determine the value of the living accommodation?

5. Can the value of living accommodation be adjusted if provided for less than 12 months in a basis period?

6. What kind of expenses paid by employees allow them to set off the value of living accommodation provided by the employer?

Summary of learning

1. What consider the benefit of living accommodation?

- Living accommodation provided by the employer to its employee. This also includes if the benefit is provided to the employee’s spouse, family, servants, dependants or guests.

- This benefit is a benefit-in-kind and is not convertible into money.

2. What is the tax treatment for living accommodations?

- The benefit is taxable together with the employment gross income employment.

- Gross income from employment includes wages, salary, remuneration, leave pay, fee, commission, bonus, gratuity, perquisite or allowance (whether in money or otherwise) in respect of having or exercising the employment.

3. How many categories of the value of living accommodation?

- 3 categories of the employees/director received the benefit: -

a) Category 1 – For employees (private sector) or service director

b) Category 2 – For the director (not service director) of a controlled company

c) Category 3 – For the employee/service director/officer of the Government/Statutory Bodies.

4. How to determine the value of the living accommodation?

- Category 1 (For employees (private sector) or service director)

a) Defined value of the living accommodation (eg. rental of the living accommodation); or

b) 30% of the gross income from employment

Whichever is the less

- Category 2 (For the director (not service director) of a controlled company)

a) The defined value of the living accommodation

- Category 3 (For the employee/service director/officer of the Government/Statutory Bodies)

 For employees and directors except for a director (not a service director) of a controlled company

a) 3% of the gross income from employment

5. Can the value of living accommodation be adjusted if provided for less than 12 months in a basis period?

a) The value of the living accommodation should be reduced appropriately.

b) The basis of reduction can be based on the period of accommodation provided instead of the actual period of occupation.

6. What kind of expenses paid by employees allow them to set off the value of living accommodation provided by the employer?

a) Rent

b) Any public rates or insurance premiums

c) Expenses on repair or maintenance of premises.

Source

Public Ruling No. 3/2005 Living Accommodation Benefit Provided For The Employee By The Employer

https://phl.hasil.gov.my/pdf/pdfam/addendum_pr_3_2005.pdf

 

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

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Common mistakes on Form CP21

Common mistakes on Form CP21
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Why IRB return my Form CP21?

Types of the common mistakes

1. Failure to use the prescribed form issued by IRBM

• Missing pages from the submitted form.

• Not comply with the printing specification as follow:

i. Plain white A4

- (210mm x 297mm) / 80gsm (minimum)

ii. Printing format

- Portrait, using laser printing,

- in one page (one-sided)

iii. Printing colour

- Black/ pure black/ monochrome

2. Incomplete information

• Incomplete employer information

• Failure to provide the basic employee information

• Failure to submit a copy of the employee IC/passport (if information submitted previously has changed)

• Failure to provide information in the ‘Particulars of Remuneration’ / ‘Monthly Remuneration Information’ Section.

• No complete date in the Form, such as:

i. Date of commencement of employment

ii. Date of resignation/retirement death

iii. Expected date to leave Malaysia

3. Mistakes under the Declaration section

• Incorrect or incomplete information:

- Name, Identification / Passport Number and Designation

• No signature or signature not using black ink pen.

• The use of signature stamps and digital signatures is not permitted.

• The Form is not signed by the empowered person.

4. Form submitted using an unauthorised method

• The form cannot be submitted via email or fax.

What are the consequences of an incomplete form?

i. The incomplete form will not be processed by Inland Revenue Board Malaysia (IRBM).

ii. Penalty will be imposed under Paragraph 120(1) of the Income Tax Act 1967 as a result of delay or failure to submit the form:

• A fine of not less than RM200 or not more than RM20,000;

• An imprisonment not exceeding six months; or

• Both.

How to fill in and submit the form?

To fill in the relevant fields using:

• Black ink pen and in block letters; or

• Typed using a computer and printed it on the Form.

To submit Form CP21, CP22A and CP22B:

• Through the e-SPC application.

• To the IRBM Branch that handles the employee income tax file.

• To the nearest IRBM office.

To submit Form CP22:

• To the IRBM Branch that handles the employer tax file.

• To the nearest IRBM office.

Source:

Criteria on Incomplete Form CP21, CP22, CP22A and CP22B Which is Unacceptable | Lembaga Hasil Dalam Negeri Malaysia

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.

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public ruling compensation for loss of employment

public ruling compensation for loss of employment
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Tax Treatment on Compensation for Loss of Employment

Overview

Many economists and financial experts predict the global recession to start in 2023. The global recession has led the organisation to cut costs by laying off employees. Those employees will receive money either in the form of compensation for loss of employment or gratuity.

Do you know whether the incomes received by the employees from loss of employment are taxable or exempted in Malaysia?

Key takeaways:

You will understand:

1. What is included in compensation for loss of employment?

2. What is the difference between compensation and gratuity?

3. What are the tax treatments?

4. Circumstances not subject to tax exemption.

Summary of learning

1. What is included in compensation for loss of employment?

According to Paragraph 13(1)(e) of Income Tax Act 1967, it includes:

a) Salary or wages in lieu of notice;

b) Compensation for breach of a contract of service;

c) Payments to obtain release from a contingent liability (employer’s obligation) under a contract of service;

d) Ex-gratia or contractual payments such as redundancy payments, severance pay, etc. made to employees who have become redundant for reasons beyond their control;

e) A payment in consideration of a covenant, arrangement or similar agreement restricting the activities of an employee in respect of engaging in an employment of a similar kind after termination of his employment.

f) Voluntary Separation Scheme (VSS) or Mutual Separation Scheme

2. What is the difference between compensation and gratuity?

It is important to differentiate whether the payment made to an employee is compensation or gratuity, as there will have different tax treatment.

a) Compensation for loss of employment

- Compensation is a payment given to the employees when they are laid off before the end of the service contract.

b) Gratuity

- Gratuity is a payment given to the employees when they resign or retire after serving for a long period of time. It is a lump sum amount that is presented to recognise an employee’s past services.

3. What are the tax treatments?

The compensation for loss of employment received by an employee is given a full or partial exemption as follows:

a) Full Exemption

A full exemption will be given if the reason for loss of employment is due to ill health.

Criteria: The health condition of the employee is required to be certified in writing by a Medical Board.

b) Partial Exemption

An exemption of RM10,000 is given for each completed year of service.

Criteria: The employee must work with the same employer or companies within the same group during the period.

4. Circumstances Not Subject to Tax Exemption

a) Reemployment implied under separation schemes:

If the separation scheme offers the employees reemployment with the same employer or any other employer, the compensation under the scheme does not qualify for an exemption.

b) Compensation for loss of employment for non-service director:

Non-service director is a director employed in the service of the Company that owns more than 5% of the ordinary shares of the Company.

Payments made by controlled companies to non-service director is not eligible for any tax exemption.

Source:

Public Ruling No. 1/2012 – Compensation for loss of employment

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

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Difference Between Tax Capital Allowance and Accounting Depreciation

Difference Between Tax Capital Allowance and Accounting Depreciation
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3 Key Difference Between Tax Capital Allowance and Accounting Depreciation


1. New Asset Yet in Use
MPERS S17: Depreciation of an asset begins when available for use. The asset must be in use.

2. Assets Acquired from Related Party
Account point of view: Cost is depreciated over the asset’s useful life. Tax point of view: Only remaining residual expenditure qualifies.

3. Company Assets Used by Related Party
According to Public Ruling No. 5/2014, assets not for business purpose is not entitled to claim capital allowance.

References
1. Public Ruling No. 5/2014
2. MPERS 17 – Property, Plant and Equipment
3. Income Tax Act 1967

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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)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates.

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Keyman Insurance Tax Deduction Malaysia

Keyman Insurance Tax Deduction Malaysia
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Quiz of the day - Keyman Insurance Tax Deductible Malaysia

1. Issue

KTP Tax Consultant Sdn Bhd can claim a tax deduction on Mr. Koh Teck Peng personal insurance in KTP Tax Consultants Sdn Bhd?

What is the personal tax impact on Mr. Koh Teck Peng?

In my opinion, the personal insurance paid by the Company for Mr. Koh is not tax allowable as Mr. Koh is control director of KTP Tax Consultants Sdn Bhd.

However, Mr. Koh has to declare the total amount of premium paid in his personal income tax which is taxed under paragraph 4(b) of the ITA

2. Fact

Company Tax impact

There are a number of requirements that must be met in order to claim a tax deduction.

According to Income Tax Act 1967 Section 33(1), expenses only can be deductible if it wholly and exclusively incurred in the generate of income is allowable as a tax deduction.

Refer to Paragraph 4 of Public Ruling No.2/2003 – Key Man Insurance, if the insurance meets the following two requirements, the premium payable on a term life policy or an accident policy which is no return after expiration policy is allowable as a deduction against gross income from a business:-

• The insurance has no element of investment

• beneficial of the insurance must remain with the employer or company not the “key-person” or his family

However, a whole life policy and endowment policy is deemed to have element of investment due to both of these policies have cash value that are redeemable.

Therefore, these two policies would be regarded as a capital asset of a Company and thus the premium paid on these policies would not be allowed for tax deduction under paragraph 5.

Connected person

Addition, if the premium paid for director insurance on life of that person who owns share in the company is not allow to claim tax deduction in controlled company. It is also not permitted to deduct the premium for a ''key-man'' insurance coverage on the life of a business partner or sole proprietor under paragraph 7.

Personal Tax Impact

Refer to paragraph 6.8 Insurance premiums - Public Ruling No.5/2019 – Perquisites From Employment

The amount of the annual premium paid by the Company on behalf of the employee (including his family, his nominee) is a perquisite to the employee and shall reported in employee Form EA.

By reporting in the Form EA in employee, this would results in the amount of annual insurance premium become taxable income for the employee.

3. Reference

  • Public Ruling No: 2/2003 “Key-man” Insurance

    https://phl.hasil.gov.my/pdf/pdfam/PR2_2003.pdf

  • INCOME TAX ACT 1967 - Section 33(1) Adjusted income generally

    https://phl.hasil.gov.my/pdf/pdfam/Act_53_20190101.pdf

  • INCOME TAX ACT 1967 - Section 139 Controlled companies

    https://phl.hasil.gov.my/pdf/pdfam/Act_53_20190101.pdf

  • Public Ruling No.5/2019 – Perquisites From Employment

    https://phl.hasil.gov.my/pdf/pdfam/PR_05_2019_2.pdf

Authored by Ms Lee Liu Shi, audit & tax associates, in her personal LinkedIn post.

DIRECTOR GENERAL OF INLAND REVENUE vs KAYUSAR SDN BHD

DIRECTOR GENERAL OF INLAND REVENUE vs KAYUSAR SDN BHD
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DIRECTOR GENERAL OF INLAND REVENUE vs KAYUSAR SDN BHD

Lesson from Tax Case:

Director General of Inland Revenue (DGIR) had the authority to charge the gain from disposal based on the market value if the taxpayer selling the property at equal to the purchase price to a connected person.

Background information

Kayusar Sdn Bhd is a reputable timber company.

The Company entered into a sale and purchase agreement by selling a condominium unit at RM398,000.00 which was equal to the purchase price.

Tax Issue:

Does transfer of ownership of property between connected persons stated under Para 23 Schedule 2 RPGTA required to be arm’s length price?

IRB opinion:

a) Section 25(2) of RPGT Act 1976 empowers DGIR to disregard and/or vary the transaction as the transaction has a direct effect on the chargeability of the tax.

b) DGIR charged the gain from the disposal of the condominium to the RPGT based on the market value determined by the Jabatan Penilaian dan Perkhidmatan Harta (JPPH).

The decision by The Court of Appeal

a) The Court of Appeal consistently found the Special Commission of Income Tax (SCIT) and High Court did not commit any error of law in their decision.

b) The responsibility was on the Company to prove that the market value determined by JPPH was inaccurate. However, the Company has failed to prove it.

c) The Company failed to discharge its obligation under its own name on 15 May 2014.

Therefore, the Company appeal is terminated with cost.

Source:

https://www.hasil.gov.my/media/rofh2uyb/20220427-revenews-kayusar.pdf

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

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What are 5 responsibilities of the director under SSM?

What are 5 responsibilities of the director under SSM?
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What are 5 responsibilities of the director under SSM?

1) Lodgement of Annual Return (AR)

Section 68(1) of Companies Act, 2016 require a company to lodge the AR to SSM not later than 30 days from the anniversary of its incorporation date.

Penalty: Fine not exceeding RM50,000.00

2) Prepare Financial Statements

Section 248(1) of Companies Act, 2016 require a company to prepare the financial statements within 6 months of its financial year end.

Penalty: Fine not exceeding RM500,000.00 or imprisonment not exceeding 1 year or both

3) Circulation of Financial Statements

Section 258(1) of Companies Act, 2016 require a company to circulate the financial statements within 6 months of its financial year end.

Penalty: Fine not exceeding RM50,000.00

4) Lodgement of Financial Statements

Section 259 (1) of Companies Act, 2016 require a company Lodge the financial statement to SSM within 30 days from the circulation date.

Penalty: Fine not exceeding RM50,000.00 and if continuing offence, a further fine not exceeding RM1,000 for each day

5) Late Lodgement Fee

SSM issued a Practice Directive No.1/2017 – The Lodgement Requirements and Related Matter that further details out the penalty for late lodgement of documents.

For any documents that is lodged to SSM later than the prescribed timeframe as per stipulated in the Act, the following late lodgment penalty shall apply:

After deadline Penalty(RM)

* 7 days to 3 months RM50
* 4 months to 6 months RM100
* 7 months to 12 months RM150
* 13 months onward RM200

The Company is required to pay this penalty amount on the spot at the time filing for the documents to SSM.

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

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KTP Career

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MSC Malaysia - Tax Benefits

MSC Malaysia - Tax Benefits
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MSC Malaysia - Tax Benefits

Background

Since its introduction in 1996, MSC Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. The strategic initiative was created to foster a conducive ecosystem driven by high-end infrastructure development and ICT companies’ catchment within the identified corridors.

MSC Malaysia, driven by the Malaysia Digital Economy Corporation (MDEC) as

the nation’s lead digital economy agency, has contributed immensely towards the growth of the nation’s digital economy.

Since 1996 Malaysia has attracted 2,794 active MSC-status companies.

What is Multimedia Super Corridor Status?

In 1996, Malaysia launched the Multimedia Super Corridor (''MSC'') initiative, aimed to promote and boost Malaysia's digital economy by offering a range of incentives, including tax exemptions to companies who are eligible to attain MSC status.

MSC Tax Benefits

Overall incentive

  • 100% pioneer status exemption of statutory income (Tier 1 & Tier 2)

  • 5 + 5 years (if extension approved) (Tier 1 & Tier 2)

  • 70% pioneer status exemption of statutory income (Tier 3)

  • 5 + 5 years (if extension approved) (Tier 3)

Category of Tier

  • Tier 1 = Designated premises within MSC Malaysia Cybercities or Cybercentres

  • Tier 2 = Other commercial premises within MSC Malaysia Cybercities or Cybercentres

  • Tier 3 = Not applicable

Other incentives

  • 100% Investment Tax Allowance on new investments from the date on which the first qualifying capital expenditure.

  • Eligible for R&D grants.

  • Freedom to source capital globally.

  • Freedom of ownership by exempting companies from local ownership requirements.

  • Unrestricted employment of foreign knowledge workers

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MSC Malaysia - Promoted Activities

MSC Malaysia - Promoted Activities
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MSC Malaysia - Promoted Activities

Background

Since its introduction in 1996, MSC Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. The strategic initiative was created to foster a conducive ecosystem driven by high-end infrastructure development and ICT companies’ catchment within the identified corridors.

MSC Malaysia, driven by the Malaysia Digital Economy Corporation (MDEC) as

the nation’s lead digital economy agency, has contributed immensely towards the growth of the nation’s digital economy.

Since 1996 Malaysia has attracted 2,794 active MSC-status companies.

What is Multimedia Super Corridor Status?

In 1996, Malaysia launched the Multimedia Super Corridor (''MSC'') initiative, aimed to promote and boost Malaysia's digital economy by offering a range of incentives, including tax exemptions to companies who are eligible to attain MSC status.

MSC Promoted Activities

PU(A) 389 2018 which comes into operation on 1 January 2019, the following activities are promoted activities for income tax exemption purpose under the MSC tax incentives.

  • Big data analytics

  • Artificial intelligence (AI)

  • Financial technology (FinTech)

  • Internet of things (IOT)

  • Cybersecurity

  • Data centre and cloud

  • Blockchain

  • Creative media technology

  • Sharing economy platform

  • User interface and user experience (UI/UX)

  • Integrated circuit (IC) design and software

  • 3D printing

  • Robotics

  • Autonomous

  • Systems/network architecture design and support

  • Global business services or knowledge process outsourcing

Additional new actitivities under Malaysia Digital

  • Virtual, augmented or extended reality

  • Drone technology

  • Advance telecommunication technology

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An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

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A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

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10% Sales Tax on Low Value Goods

10% Sales Tax on Low Value Goods
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Sales Tax Low Value Goods

Background

The 10% sales tax on low-value goods (LVG) will be in effect from April 1, according to the Royal Malaysian Customs Department.

Goods imported from overseas that are priced under RM500 will be subject to the tax.

RMCD Announcement

According to a statement on RMCD website, LVG sellers are responsible for acquiring ‘Registered Seller’ (RS) status with the Customs Department.

Registration will be required for both Malaysian citizens and foreigners who deal in low-value goods brought into the country via land, sea or air, and exceeds RM500,000 in total sales value within 12 months.

Key Summary :

1. RMCD Announcement on LVG (Low Value Goods) 1/2023

The Royal Malaysian Customs Department (RMCD) has issued an Announcement on LVG (Low Value Goods) 1/2023 (Announcement) dated 6 January 2023.

The Announcement states the following: -

a. The legislation related to sales tax on LVG have come into force on 1 January 2023.

b. The effective date for charging and levying sales tax on LVG will be from 1 April 2023.

c. In accordance with the legislations related to sales tax on LVG:-

i) any person whether in Malaysia or a foreigner;

ii) who sell LVG;

iii) brought into Malaysia by land, sea or air mode; and

vi) the total sales value of LVG into Malaysia exceeds RM500,000 within 12 months,

is responsible for being registered as a Registered Seller (RS).

d. Applicants can start applying to be registered from 1 January 2023.

e. More information regarding registration can be accessed via https://lvg.customs.gov.my

f. Any queries or feedback regarding Sales Tax on LVG can be emailed to mylvg@customs.gov.my

PS : Online shoppers should note that the tax will apply only to the actual value of the goods regardless of shipping fees.

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MSC Tax Incentive : Eligibility Criteria

MSC Tax Incentive : Eligibility Criteria
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MSC Malaysia

Background

Since its introduction in 1996, MSC Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. The strategic initiative was created to foster a conducive ecosystem driven by high-end infrastructure development and ICT companies’ catchment within the identified corridors.

MSC Malaysia, driven by the Malaysia Digital Economy Corporation (MDEC) as

the nation’s lead digital economy agency, has contributed immensely towards the growth of the nation’s digital economy.

Since 1996 Malaysia has attracted 2,794 active MSC-status companies.

What is Multimedia Super Corridor Status?

In 1996, Malaysia launched the Multimedia Super Corridor (''MSC'') initiative, aimed to promote and boost Malaysia's digital economy by offering a range of incentives, including tax exemptions to companies who are eligible to attain MSC status.

Stay tune for more MSC in coming days.

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

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

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Amend Borang BE LHDN

Amend Borang BE LHDN
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Amend Borang BE

If you have over-declared your income or under-claimed the tax reliefs in your e-BE submission, you can amend the information via the e-Application for Amended BE.

Online amendment can be made via e-Filing under the following circumstances:

  • Over-declared of income

  • Under-claim for tax relief or tax rebates

Terms & Conditions

1. The original tax return form is submitted via e-Filing (e-BE Form).

2. e-BE Form must be submitted within the stipulated period (not a late submission)

3. e-Application for Amended BE can be submitted once only, within a year of assessment

4. Supporting documents should be uploaded using the format required in the column provided.

Source

e-Application for Amended BE can be accessed starting April 1st 2022.

The e-Application for Amended BE via https://mytax.hasil.gov.my/ > e-Filing

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Amend Borang BE LHDN

Amend Borang BE LHDN
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If you have over-declared your income or under-claimed the tax reliefs in your e-BE submission, you can amend the information via the e-Application for Amended BE.

Online amendment can be made via e-Filing under the following circumstances:

  • Over-declared of income

  • Under-claim for tax relief or tax rebates

e-Application for Amended BE can be accessed starting April 1st 2022.

The e-Application for Amended BE via https://mytax.hasil.gov.my/ > e-Filing

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(update) IRB Byhasil

(update) IRB Byhasil
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(update) IRB Byhasil

Latest development on ByHasil

Recent tax questions from clients :

1. Byrhasil is not working

2. What is E-TT?

3. What is virtual tax number in E-TT?

IBR Byrhasil is not working. However, our client can choose to make the tax payment with e-TT.

E-TT tax payment

e-TT method is to generate the Virtual Account Number (VA No.) and is unique for each transaction.

The client still needs to pay the tax with e-banking and the VA no. will be the bank account number.

Read more story on e-TT on our blog

https://ktp.com.my/.../e-telegraphic-transfer.../08apr22

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Tax Filing Program 2023

Tax Filing Program 2023
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Tax Filing Program 2023

The Inland Revenue Board (IRB) Return Form (RF) Filing Programme for 2023 is now available on HASiL official portal as a reference for taxpayers to submit their return form this year.

In a statement on Sunday (Jan 1), the IRB said taxpayers dan employers are encouraged to use the e-Filing facility for the submission of RF which will be the primary method for submission of tax returns in the future.

It also encouraged tax agents to use the Tax Agent e-Filing (TaeF) (https://taef.hasil.gov.my/) service to submit RF.

Source

It can be accessed through www.hasil.gov.my or via quick access at https://www.hasil.gov.my/media/mpofkuqz/programmemfailbn_2023.pdf.

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

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Nombor Bill LHDN FAQ

Nombor Bill LHDN FAQ
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Use of reference number (nombor bill) for IRB tax payment Part 2

This “Nombor Bill” is the “reference number” when making payment for LHDN online or counter.

FAQ

IRB has released FAQ for the “Nombor Bill” and “System E-biliing”

You can scroll down to the bottom through myTax link https://mytax.hasil.gov.my/ and click the ''User Manual'' to download.

Summary Information for the Nombor Bill:-

1. Start from 01.01.2023, taxpayer need to obtain the Nombor bill through ''MyTax'' (but currently unable to login)

2. All payments to LHDN need the Nombor Bill except for PCB and stamp duty

3. Transition period: Currently taxpayer still can use the Income Tax File Number as reference number until 30.06.2023.

Source

Enclosed is the Media Release for “Nombor Bill” from LHDN for your reference.

https://bit.ly/3WBDOgI

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

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Use of nombor bill for tax payment

Use of nombor bill for tax payment
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Use of reference number (nombor bill) for IRB tax payment

This “Nombor Bill” is the “reference number” when making payment for LHDN online or counter.

Below is the summary information for the Nombor Bill:-

1. Start from 01.01.2023, taxpayer need to obtain the Nombor bill through ''MyTax'' (but currently unable to login)

2. All payments to LHDN need the Nombor Bill except for PCB and stamp duty

3. Transition period: Currently taxpayer still can use the Income Tax File Number as reference number until 30.06.2023.

Source

Enclosed is the Media Release for “Nombor Bill” from LHDN for your reference.

https://bit.ly/3WBDOgI

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

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Season's Greetings, Happy New Year 2023

Season's Greetings, Happy New Year 2023
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Season's Greetings, Happy New Year 2023

Happy New Year

Stay awesome in the coming year.

May many fortunes find their way to you.

May the joy and happiness around you today and always

May the new year bless you with health, wealth and happiness

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KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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+6012-771 7903
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