Tax

Deferment of CP204 CP500 Payment Budget 2022 Part 2

The Postponement of 6 instalments on Estimated Tax Payable (CP204) and Instalment Payment Scheme (CP500) will be given automatically to qualified taxpayers with the status of micro, small and medium enterprises (MSMEs or PMKS) from Jan 1 to June 30, 2022.

What if taxpayers don’t want the deferment?

Taxpayers want to maintain the current tax instalment scheme.

IRB is not required to be notified as qualified taxpayers are allowed to follow the original CP 204 or CP 500.
Any tax instalments paid during the deferment period will be treated as payments towards the tax instalments for those respective months and will not be allowed to be carried forward for settlement of tax instalments after the deferment period.

Tax estimation

No changes to existing eligibility to revise tax estimates in the 6th or the 9th month and the special 11th month revision (subject to existing conditions)

Tax penalty ?

The increase in taxes for late payment of instalments will not be imposed for instalments deferred during the deferment period

6 instalment deferment

The Inland Revenue Board (IRB) informed that qualified taxpayers are based on records or the latest Income Tax Statement Form received by the board.

CP 204 deferment

For CP204 payment, business criteria that qualify for the PMKS status are companies, cooperatives, trust bodies and limited liability partnerships with a paid-up capital of less than RM2.5 million for ordinary shares at the start of the basic period of an assessment year.

In addition, the entity’s gross business income of RM50 million or below for an assessment year.

The postponement of CP204 payment to the taxpayer who fulfils the criteria will be sent via registered email with HASiL (the IRB).

CP500 deferment

The IRB informed that the postponement of CP500 payment is allowed automatically to all taxpayers concerned for the 2021 assessment year payment (for the payable date of Jan 1, 2022) and the 2022 assessment year payment (for the payable dates of March 1, 2022 and May 1, 2022).

FAQ on deferment

Frequently asked questions (FAQ) on the postponement could be accessed via the link https://phl.hasil.gov.my/pdf/pdfam/SOALAN_LAZIM_PINDAAN_BAJET_2022_CP204.pdf and the public can contact the HASiL Recovery Call Centre (HRCC) at 03-8751 1000 for further information.

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Deferment of CP204 Payment Budget 2022

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Deferment of CP204 Payment Budget 2022

The Postponement of Estimated Tax Payable (CP204) and Instalment Payment Scheme (CP500) will be given automatically to qualified taxpayers with the status of micro, small and medium enterprises (MSMEs or PMKS) from Jan 1 to June 30, 2022.

6 instalment deferment

The Inland Revenue Board (IRB) informed that qualified taxpayers are based on records or the latest Income Tax Statement Form received by the board.

CP 204 deferment

In addition, the entity’s gross business income of RM50 million or below for an assessment year.

The postponement of CP204 payment to the taxpayer who fulfils the criteria will be sent via registered email with HASiL (the IRB).

CP500 deferment

FAQ on deferment

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What is tax recovery action by LHDN?

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What is tax recovery action by LHDN?

Background story from a Facebook post

Last year, I was fined by LHDN for under-declaring the tax and I was fined RM30K with 2 years instalments. Because of the MCO this year, I did not pay the money on time. Originally, it was the 11th issue this month, but I was only going to the seventh issue.…

I suddenly received a letter from ''Kes Mahkamah'' the day before yesterday. I opened it and saw that it said that I would go to court on December 20 and I had to pay more than RM25k in one go. ….…

Can I really continue to pay in instalments? Can't it be the 11th issue if I return him on time now?

LHDN tax recovery action

LHDN can file a recovery action against the taxpayer if no payment is made after 30 days from the services of the Notice of Assessment (NOA).

Judgement in Default

A writ saman (writ of summons) and pernyataan tuntutan (statement of claim) will be served to the taxpayer.If the taxpayer does not enter appearance within 14 days, a judgement in default of appearance (JID) will be entered against the taxpayer.Once a JID is entered, LHDN can proceed to execute the JID against the taxpayer.

Summary of Judgement

If summary judgement is entered, LHDN will proceed to file bankruptcy proceedings against taxpayer to recover the taxes. Once summary judgement is entered, taxpayer must by lumpsum.Thus, negotiate for instalment scheme before summary judgement is entered.

A summary judgement means a judgment can be entered against taxpayer without having to go for a trial.The Court will not entertain any challenges on the correctness of the assessment. The challenges can only be done at the Special Commission of Income Tax.

Instalment scheme S103(7) ITA 1967

Where any tax is payable in accordance with subsection (2), the Director General may allow the tax to be paid by instalments in such amounts and on such dates …. in the event of default in payment of any one instalment on the date specified for payment the balance of the tax then outstanding shall be due and payable on that date and shall without any further notice being served … and that sum shall be recoverable as if it were tax due and payable under this Act.

Consent Judgement

A consent judgment will be recorded before the Court when both parties (taxpayer and LHDN) agree to the instalment plan.

A lapse in any one of payment, the Consent Judgement will be revoked and the tax will become due and payable immediately.

No bankruptcy/winding-up proceeding will be filed against the taxpayer as long as payment is made.

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Special Tax Incentive under Penjana

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Special Tax Incentive for Selected Services Activities under National Economic Recovery Plan (PENJANA)

The scope of Special Tax Incentive under the Economic Recovery Plan (PENJANA) is not only to assist manufacturing companies to relocate their operations to Malaysia. In Budget 2021, it also expanded to selected service activities, including companies adapting Industrial Revolution 4.0 and digitalization technology.

Key takeaways:

You will understand: -

1. Who is eligible for the tax incentive?

2. What are the tax incentives?

3. What are the selected service activities?

4. What are the key conditions to be fulfilled？

5. How to apply?

Summary of learnings:

1. Who is eligible for the tax incentive?

New company

A company that does not have:

a. any existing operation/entity in Malaysia with including the related company, or

b. any existing services operation in Malaysia but has an existing non-services operation, e.g. manufacturing

and is planning to:

a. Relocate its facility for qualifying services activities from any foreign country; or

b. Relocate new services activities; or

c. Establish new operation in Malaysia

Existing company

A foreign or locally owned company with existing services operation (including selected services activities) in Malaysia; and

Proposes to undertake selected services activities for a new business segment, which is separate from the operation of its existing services activities.

2. What are the tax incentives?

New company

Income tax rate: 0% to 10%
Period: up to 10 years.

Existing company

Income tax rate: 10%
Period: up to 10 years

3. What are the selected service activities?

The company must undertake any of the following service activities:

i. Provision of technology solutions based on substantial scientific or engineering challenges;

ii. Provision of Infrastructure and technology for cloud computing;

iii. Research and development/design and development activities;

iv. Medical devices testing laboratory and clinical trials; and

v. Any services or manufacturing-related services activities determined by the Minister of Finance

4. What are the key conditions to be fulfilled?

Some of the key conditions are outlined as below:

i. Company incorporated under Companies Act 2016 and resident in Malaysia;

ii. To commence business operation within one year from the date of approval;

iii. Incur the first capital expenditure within one year from the date of approval for the incentive and to be completed within three years from the date of the first capital expenditure was incurred; and

iv. To incur capital investment or business expenditure in the following areas:

a. Adoption of Industrial Revolution 4.0 or digitalisation technology;

b. Employment opportunities for Malaysians including fresh Malaysian graduates;

c. Technology transfer;

d. Utilization of local goods and services;

e. Internship for Malaysian students;

f. Collaboration with local industries/institutions/universities.

5. How to apply?

The completed application should be submitted in three (3) sets of PENJANA (Services) Form to MIDA before 31 December 2022.

Source:

https://www.mida.gov.my/wp-content/uploads/2021/09/Revised-Guideline-Relocation-Incentive_as-at-22.9.2021-for-MIDAs-website_final-v2.pdf

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KISB vs Ketua Pengarah Dalam Hasil Negeri

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KISB vs Ketua Pengarah Dalam Hasil Negeri

Lesson from Tax Case : KISB vs Ketua Pengarah Dalam Hasil Negeri

1. Expenses incurred by the director (Company Vs Personal).

2. Wrong business code on 2nd business source.

Background information

The Company is operating a clinic.

The income generated from:

1. Consultancy fees and selling medicine for cure the patient.

2. Sales of supplement medicine to patients.

The Company discloses income separately for clinic income and supplement medicine in the tax computation.

Tax Issue 1 - Deductibility of “private” expenses

The Company incurred the following expenses:

- Training expenses,

- Repair,

- Service and maintenance; and

- General expenses.

Are these expenses allowable for tax deduction??

Tax Issue 2 : Wrong business code in tax computation

The Company discloses income separately for clinic income and supplement medicine

Does the presentation of tax computation use 2 business source of income is correct?

The Company’s opinion on Issue 1:

All the expenditures were basic expenses and a necessity in providing beneficial training to its patients as well as the buyers of the vitamin supplements allegedly sold by the Company.

1. All the expenditures were basic expenses and a necessity in providing beneficial training to its patients as well as the buyers of the vitamin supplements allegedly sold by the Company.

2. Presentation of tax computation is allowable as the principal activities include general traders and dealers.

The Company’s opinion on Issue 2:

Presentation of tax computation is allowable as the principal activities include general traders and dealers.

IRB argument on Issue 1:

The expenditures in question were not eligible for deduction under Section 33(1) of the ITA for the following reasons:

a) Expenses were not incurred by the Company but by one of its directors;

b) It was of personal expenses in nature; and

c) Expenses not supported by the relevant documentation.

IRB argument on Issue 2:

The income of “Business 2nd source - supplement medicine” was wrongly declared and reported by the Company as the income was from the multi-level-marketing (MLM) business of one of the Company’s directors

Therefore, it should be declared and reported separately from the Company’s income.

The decision by The Court

The Company expenses were not allowed for deduction due to the following reason:

1) Failed in proving that the expenses incurred are eligible for deduction under Section 33(1) of the ITA;

2) The Company had failed to call any witnesses to support its claim;

3) Failed to show that the expenditure is not capital in nature; and

4) The expenses incurred were found not related to the business of the Company.

Source:

https://phl.hasil.gov.my/pdf/pdfam/KISB_v_KPHDN_31012020.pdf

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Stamp duty exemption 2021

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Stamp duty exemption 2021

How to save stamp duty with our Government exemption order during this pandemic?

Two exemption orders:

1. Stamp duty (Exemption) (No. 10) Order 2021 [P.U.(A) 364/2021].

Stamp duty exemption on the instrument of loan or financing agreement executed between a Small and Medium Enterprise (SME) and a financial institution

Stamp Duty (Exemption) (No. 10) Order 2021 [P.U.(A) 364/2021] was gazetted on 10 September 2021 and was deemed to have come into operation and effective on 1 January 2021.

The Order provides that the exemption shall apply to relevant instruments executed under a letter of offer issued by the Financial Institution to a SME between 01 January 2021 to 31 December 2021.

Loan or financing facility approved under Bank Negara Malaysia (BNM)’s Fund for SMEs:

(i) All Economic Sectors Facility

(ii) Small Medium Enterprises Automation and Digitalization Facility;

(iii) Agrofood Facility

*An Application must be submitted for the exemption

2. Stamp duty (Exemption) (No.11) Order 2021 – [P.U.(A) 367/2021]

Stamp duty exemption on qualifying loan restructuring and rescheduling agreements.

Stamp duty (Exemption) (No.11) Order 2021 – [P.U.(A) 367/2021] was gazetted on 15 September 2021 and was deemed to have come into operation and effective on 1 July 2021.

This new order is to extend the exemption period under Stamp Duty (Exemption)(No.2) Order 2020 [P.U.(A) 165/2020].

The Amendment Order provides that:

This exemption applies to the loan restructuring and rescheduling agreements executed on or after 01 July 20201 to 31 December 2021. (previously until 30 June 2021)

The exemption is subject to the following conditions: -

1. An application must be submitted for the exemption;

2. The existing loan and financing agreement has duly stamped under item 22 or 27 of the First Schedule to the Act;

3. Do not contain any additional value to the original amount of loan or financing agreement relating to the restructuring or rescheduling of a loan of financing;

4. Any interest or profit accrued from the restructured or rescheduled payments is not considered as an element of additional value.

Source:

i. Stamp duty exemption on the instrument of loan or financing agreement

ii. Stamp duty exemption on the instrument of loan or financing agreement executed between a Small and Medium Enterprise (SME) and a financial institution

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Public Ruling (PR) No. 4/2021: Taxation of Income Arising from Settlements

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Public Ruling (PR) No. 4/2021: Taxation of Income Arising from Settlements

The IRB has published Public Ruling (PR) No. 4/2021: Taxation of Income Arising from Settlements, dated 13 August 2021.

The objective of Public Ruling 4/2021

The PR explains the taxation of income arising from a settlement created by a person for the benefit of another person.

* Clarify who constitutes a “settlor” and what constitute “settlements” for income tax purposes

• Explain the circumstances where income arising from a settlement is deemed to be the income of a settlor and hence assessable on him/her.

• Explain how the amount of income of a settlor from settlements is determined

• Explain the tax treatment in a settlement where there are two or more settlors

Example

Mr Rich transferred a shophouse to his unmarried son as a gift for his 18 years old birthday. The shophouse will generate RM10,000 of rental income every month.

The rental income should be assessable under Mr Rich or his son?

The rental income would be deemed to be Mr Rich’s income, as his son is below 18 years old and unmarried.

When his son attains 21 years old, the rental income would be assessable under his son.

But why?

Because there is a “settlement” for an unmarried relative under 21 years of age.

Definition of settlement in tax ruling

In a settlement, there must be an element of giving or getting something for nothing or less than the open market value.

The shophouse is treated as a birthday gift to his son without any consideration.

Tax treatment on income from the settlement

In subsection 65 of ITA mentions that the settlement for an unmarried relative under 21 years’ old, income would be deemed to be the income of settlor (Mr Rich) where a settlement is created either directly or indirectly for the benefit of a relative.

However, in subsection 65(1) of ITA, the income would be deemed as income of the relative when:

1. in the event of the death of the settlor;

2. a relative under 21 years old who is married;

3. a relative who is 21 years old and above whether married or unmarried.

In this case, his son is unmarried and 18 years old.

Source:

PR4/2021 – Taxation of income arising from settlements: https://phl.hasil.gov.my/pdf/pdfam/PR_04_2021.pdf

Section 65 of Income Tax Act 1967 - https://phl.hasil.gov.my/pdf/pdfam/Act_53.pdf

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Tax estimation LHDN 2022

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Tax estimation LHDN 2022

Budget 2022 proposes some measures to allow businesses to amend their estimated income tax payable. The proposal is to allow all businesses to revise the estimated income tax payable in the 11th month before 31 October 2022.

Key summary

a. The application process for the 11th month revision of tax estimate before 31 October 2022 is similar to those implemented previously where it can be submitted online (including email) and is deemed approved upon submission (i.e.automatically approved).

b. The application form(CP204A)can be submitted via email to

pindaancp204bajet2022@hasil.gov.my.

c. Companies can make payment based on their 11th month revision of tax estimate figure after submitting the completed application form. The LHDNM will issue a revised instalment payment schedule(CP205)to the company as notification.

d. The estimate of tax payable for the year of assessment 2022 shall not be less than 85% of the tax estimate or the revised tax estimate in accordance with S.107C(3) and S.107C(7)of the Income Tax Act 1967 (ie.85%based on the 6t month or the 9t month revision and not the 11th month revision).

KTP takeaways on tax estimation 2022

It offers businesses some flexibility in managing their tax estimates and cash flow.

As many companies in Malaysia adopt a December financial year end, the cut-off on 31 October 2022 would mean that companies closing their financial year on 31 December 2022 will not be able to benefit from this amendment.

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MyTax: LHDNM

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MyTax: LHDNM

2021 最佳 app - MyTax. 一旦安装 MyTax, 不陷入任何骗局.

这是一个方便纳税人查看税务的软件, 你就可以查询并使用更多相关的税务服务。

所得税官网
税务呈报
电子盖章系统
线上呈报薪酬资料
预扣税计算机
资料更新
税务分类账
税务居民
税务清关
印花税

只要点击分类账，你就可以查询自己有没有拖欠的税务, 并查询有关的税务估算表（CP500).

这个软件有什么好处呢?

纳税人能更方便的查询个人的税收信息。
节省时间，成本和交通，无需去LHDNM柜台询问税收信息，因为一切都触手可及
允许用户使用一个用户名（ID）和密码登录到多个相关软件系统，并使用LHDNM所提供的其他服务.

How to 下载

安卓用户可以通过 google play store下载
苹果用户可以通过 app store下载

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Certificate of Residence LHDN

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Do you know how to reduce withholding tax with the certificate of residence (COR)?

A certificate of Residence (COR) is issued to confirm the residence status of the taxpayer.

Objectives of COR

Claim tax benefits under the Double Taxation Agreement (DTA).
Avoid double taxation on the same income.

COR is specifically for Malaysia’s treaty partners only.

Application of COR

Application for COR can be made either manually or can be made through e-Residence (https://eresidence.hasil.gov.my/).

The COR will be ready within 10 working days with the fully duly required

documents and information furnished.

Final words

Further information on COR can be obtained from the IRBM Official Portal at

www.hasil.gov.my > International > Certificate of Resident

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2022 年预算摘要 - 中小企业版

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2022 年预算摘要 - 中小企业版

退税

设立新中小型企业的退税 20,000 令吉延长至 2022 年 12 月 31 日.

税亏损

公司将能够将亏损从 7 个课税年延长至 10 个课税年.

分期还税

中小企业的每月税款分期付款延期 6 个月至 2022 年 6 月 30 日

税收估算

2022 年 10 月 31 日之前所有企业在第 11 个月的特别税收估计修订.

租金减免

对租户的租金减免（应至少为 30%）延长至 2022 年 6 月特别税收减免

装修

营业场所翻新可获高达 RM300,000 的税收减免延长至 2022 年 12 月 31 日.

汇入马来西亚的外国收入

汇入马来西亚的外国收入将从 1/1/22 开始征税。包括公司和个人在内的所有纳税居民。

间接税

一项针对间接税的特殊自愿披露计划 (SVDP) 将被引入并减免罚款。

特别再投资津贴

特别再投资津贴延长 2 年至 2024 课税年 .

产业税

产业税税率从 5% 降至 0%产业收购后第 6 年及以后

佣金预扣税

支付给代理、经销商或分销商的佣金需缴 2% 的预扣税。前一个课税年度的门槛高于 RM100,000。

未用再投资津贴

连续7个YA 的 untilised RA 的时间限制包括Special RA.

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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A summary of budget 2022 SME edition

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A summary of budget 2022 SME edition

Tax rebate

Extension of tax rebate up to RM20,000 for establishment of new entities and operating micro, SMEs from 1 July

Tax losses

Companies will be able to carry forward losses from 7 year of assessment to 10 year of assessment.

Tax instalments

Deferment of monthly tax instalment payments for micro, SMEs for 6 months until 30 June 2022.

Tax estimation

Special tax estimate revision in the 11 month of the basis period for all businesses before 31 October 2022.

Rental relief

Rental reduction (shall be at least 30%) to tenants of business premises is given a special tax deduction equivalent to the amount of rental reduction extended until June 2022.

Renovation

Tax deduction of up to RM300,000 on the eligible cost of renovation and refurbishment of business premises incurred extended until 31 December 2022.

Foreign income remitted to Malaysia

Foreign income remitted into Malaysia will be subjected to tax from 1/1/22. It is applicable to all tax residents which include companies & individuals.

Indirect taxes

A special voluntary disclosure program (SVDP) for indirect taxes will be introduced with penalty remission.

Special reinvestment allowance

Special reinvestment allowance extends to YA 2024 for another 2 years.

RPGT

RPGT rate for disposal made in the 6th and subsequent years after acquisition to be reduced from 5% to 0%.

Withholding tax on commission

2% withholding tax on payment made to resident agents, dealers or distributor. Threshold is above RM100,000 in the immediately preceding YA.

Unutilised reinvestment allowance

The time limit on the carry forward of untilised RA for 7 consecutive YA included Special RA and commence from YA 2025.

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

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KTP Career

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Tax Penalty for Not Filing Tax Return

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Tax Penalty for Not Filing Tax Return

What happens if taxpayers don’t file tax return ?

Under S113 of the Income Tax Act RM200.00 to RM20,000.00 / Imprisonment for a term not exceeding 6 months / Both.

Next come “Tindakan Pendakwaan” (Prosecution Action).

Reasonable Excuse

Is “my company is closed down due to covid” a reasonable excuse not to file tax return?

Taxpayers tax numbers will not automatically be closed because taxpayers do not file tax return.

Final word

Don’t forget SSM, EPF, SOSCO, HRDF, RMC …

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

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Stoppage Order LHDN

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Stoppage Order LHDN

Stoppage Order is to prevent persons from leaving Malaysia

The Stoppage Order on individuals or company directors who have arrears in their income tax, real property gains tax (RPGT) or company tax.

How to revoke Stoppage Order?

The taxpayer must pay the tax arrears in FULL, based on the amount stated in the certificate issued.

How to temporary release the Stoppage Order?

A minimum payment of 50% of the tax arrears has been made.
The taxpayer shall contact the IRBM branch office that handles the taxpayer's file, at least 7 days before travelling abroad.
Submit an application letter on the place of destination, the purpose and the duration of the visit.

Taxpayers can check the status of the stoppage order before going abroad at

http://sspi.imi.gov.my/sspi/.

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

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两个重要改变关于预扣税（withholding tax）

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两个重要改变关于预扣税（withholding tax）

1. 预扣税（withholding tax）已能网上支付？

相信大家对预扣税已经相当熟悉了，那么今天我们就为大家整理一份预扣税网上付款的宝典!

话不啰嗦，我们马上开始吧!

支付预扣税的途径包括：

i. 电汇 (TT)

ii. 银行转账 (IBG)

iii. 电子资金转账 (EFT)

备注：预扣税无法在银行柜台进行付款

税务局的银行户口资料如下：

收款者：Ketua Pengarah Hasil Dalam Negeri
银行名称及地址：CIMB Bank Berhad, Cawangan Jalan Tuanku Abdul Halim, Tingkat Bawah Blok 8, Kompleks Pejabat Kerajaan, Jalan Tuanku Abdul Halim, 50480 Kuala Lumpur
银行户口号码：8000766957
银行国际代码：CIBBMYKL
税务局公司注册号码：GB0000010X

需要呈交至税务局的文件：

i. 已填写的预扣税表格 (CP37/CP37A/CP37D/CP37E/CP37F/CP37G/CP147)

ii. 副本发票

iii. 支付给供应商的付款证明，例如：银行转账单

iv. 支付给税务局的付款证明，例如：电汇单或银行转账单

以上的4份文件都需要在付款预扣税的当天，用电邮的方式发至此网址 helpTTpayment@hasil.gov.my

最后税务局会在收到付款和以上4份完整文件后发出正式收据

2. 支付佣金中预扣税（withholding tax）

在支付佣金给代理/经销/分销商时要扣除 2%的预扣税;

没有扣税2%预扣税，并在30天内上缴税收局，有关佣金将不能用来扣税.

如果你们还想了解预扣税可以点击一下:

• 马来西亚预扣税(𝐖𝐢𝐭𝐡𝐡𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱)的规则概述 (1)

https://www.facebook.com/www.ktp.com.my/posts/4400954049946855

• 马来西亚预扣税(𝐖𝐢𝐭𝐡𝐡𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱)的规则概述 (2)

https://www.facebook.com/www.ktp.com.my/posts/4400984913277102

• 马来西亚预扣税(𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧 𝐭𝐚𝐱)的规则概述 (3)

https://www.facebook.com/www.ktp.com.my/posts/4401018163273777

• 马来西亚预扣税(𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐧𝐠 𝐭𝐚𝐱)的规则概述 (4)

https://www.facebook.com/www.ktp.com.my/posts/4436166409758952

• 马来西亚预扣税(𝐖𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱)的规则概述 (5)

https://www.facebook.com/www.ktp.com.my/posts/4476953295680263

• 𝐃𝐨 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 𝐭𝐚𝐱𝐩𝐚𝐲𝐫 𝐜𝐚𝐧 𝐞𝐧𝐣𝐨𝐲 𝐚 𝐋𝐎𝐖𝐄𝐑 𝐰𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱 𝐨𝐧 𝐩𝐚𝐲𝐦𝐞𝐧𝐭 (𝐫𝐨𝐲𝐚𝐥𝐭𝐲, 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭, 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐟𝐞𝐞) 𝐭𝐨 𝐧𝐨𝐧-𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭?

https://www.facebook.com/www.ktp.com.my/posts/5414432998598950

• 𝐃𝐨 𝐭𝐡𝐢𝐬 𝐭𝐨 𝐞𝐧joy 𝐋𝐎𝐖𝐄𝐑 𝐰𝐢𝐭𝐡𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐚𝐱 (𝐖𝐇𝐓) 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐚𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐞𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡 𝐆𝐨𝐠𝐠𝐥𝐞 & 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤

https://www.facebook.com/www.ktp.com.my/posts/4571017262940532

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

Instagram https://bit.ly/3u2PxHg
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Foreign source income taxable in Malaysia

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Foreign source income taxable in Malaysia

Finance Bill additional information on foreign sourced income remitted into Malaysia will be subjected to tax from 1/1/22.

The proposed tax ruling is applicable to all tax residents (companies & individuals).
The scope covers all classes of income from business, salary & passive income (eg dividend, interest, royalty & etc).
The transitional period from 1/1/22 to 30/6/22 whereby foreign source income remitted to Malaysia is taxed at 3% on gross income.
From 1/7/22, any foreign source income remitted to Malaysia will be subjected to the current prevailing rate.

KTP takeaways
There are questions to be answered:

How about capital gain in foreign country remitted to Malaysia?
How about the foreign exchange on the remittance?

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

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#Ktp #Thks

Do I need to do Transfer Pricing Documentation (TPD) every year?

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Overview:

Due to the subjective nature and new implementation of rules and penalty for transfer pricing, it is important for taxpayer to understand What is transfer pricing, Who is involved and How should we deal with it.

We have run through 2 e-KTP on Transfer Pricing. Just in case you missed out, you may retrieve here: -

e-KTP 179: Part 1 – Associated Persons

e-KTP 180: Part 2 – Controlled transaction

Key takeaways:

You will understand: -

1. Importance of Transfer Pricing Documentation (TPD)

2. Requirement of Transfer Pricing Documentation

3. The frequency to update the Transfer Pricing Documentation

Summary of learnings:

A) Importance of Transfer Pricing Documentation

The documentation is crucial for taxpayer to prove that the related party transactions are conducted at arm's length especially the visit of LHDN.

TPD can act as a defense document during a transfer pricing audit to reduce any potential disputes. Without TPD, this may lead to additional tax payables on transfer pricing adjustment and subsequent penalty.

B) Requirement of Transfer Pricing Documentation

Transfer Pricing Guidelines 2012 requires taxpayer to prepare and keep the transfer pricing documentation which consists of the relationship between the associated person, transactions occurred between each parties and all available information on proofing that they are doing within arm's length.

LHDN has provided a leeway for companies below the threshold to prepare a simpler version of TPD.

But should I prepared the contemporaneous (full) or abbreviate (partial) TPD? Let’s click here to have a simple test and more details.

C) The frequency to update the Transfer Pricing Documentation

There are 3 types of information which requires regular update.

1) Financial data – update annually

2) Benchmarking analysis – every 3 years

3) Other material changes – update when necessary

Such as changes on transfer pricing policy or business activities or economic downturn and so forth.

Sources:

Transfer Pricing Guidelines2012:

http://phl.hasil.gov.my/pdf/pdfam/MalaysianTransferPricingGuidelines2012.pdf

Transfer Pricing Guidelines - Chapter XI Documentation:

http://www.hasil.gov.my/bt_goindex.php?bt_kump=5&bt_skum=20&bt_posi=1&bt_unit=1&bt_sequ=7&bt_lgv=2

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

海外收入汇回大马时将被征税

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海外收入汇回大马时将被征税

不要忘记双重税收减免(可扣除已在国外缴纳的税务)

以前，大马只对在该国产生或来自该国的收入征税, 居民的外国收入在大马不征税.

但 …2022 年 1 月 1 日起

海外收入汇回大马时将被征税

双重税收减免

税务居民有权在大马税收中申请双重税收减免.

如果存在条约，可用的抵免税额为已支付的全部外国税款或征收的大马税款，以较低者为准.

在没有税收协定的情况下，可用的抵免仅限于已付外国税款的一半.

双重征税协定 (DTA)

双重征税协定 (DTA) 的目标是避免或尽量减少双重征税.

这主要是通过居住国给予双重税收减免.

支付的外国税款可以在相同利润的大马税款中抵免.

如何申请双重税收减免

税收协定减免可以在纳税人的所得税申报表中提出, 也可以在相关年度结束后的两年内提出协定减免的书面请求。

马来西亚的双重征税条约

截至 2019 年 6 月 21 日，大马 DTA 的列表

https://www.hasil.gov.my/bt_goindex.php?bt_kump=5&bt_skum=5&bt_posi=4&bt_unit=1&bt_sequ=1&bt_lgv=2

Visit Us

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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

#Ktp #Thks

How to amend tax return after filing

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How to amend tax return after filing

Overview

Inland Revenue Board (IRB) allows taxpayers to file an Amended Return Form (ARF) if taxpayers need to fix an error or mistake and result in under-payment of taxes.

However, how about if the taxpayer has overpaid the taxes because forgot to claim a tax credit or deduction in Income Tax Return Form (ITRF)? Don't worry, the taxpayer can make an application for relief under Section 131 and 131A of the Income Tax Act 1967 (ITA).

Let's see the conditions and procedure to be satisfied with the application.

Key takeaway:

You will understand:

1. What is considered an error or mistake in ITRF?

2. What are the time frames for the application?

3. What are the conditions for application?

4. How to apply for relief?

Summary of learning:

What is considered an error or mistake in ITRF?

The taxpayer had paid excessive tax because of the following reason:

- Error or omission to deduct an allowable expense

- Arithmetical error

- Misleading of laws

- Income for the previous YA is reported in current YA

- Other non-error or mistake, for example, approval of tax exemption under Promotion of Investment Act 1986.

What is the conditions for application?

The conditions under Section 131 and Section 131(A) of ITA are:

1. To take note that the application will not be considered if the ITRF is in accordance with known stand, rules and practices the DGIR prevailing at the time when the assessment is made.

o Example of the known stand, rules and practices are private ruling or advances ruling, guidelines by IRB, case law and any other written evidence.

2. Taxpayer must pay all the taxes for the relevant year of assessment.

3. Taxpayer must make an application within the time frames after the year assessment.

What are the time frames for the application?

The application for the relief can be made within the following time frames:

i. Within 5 years after the end of the year:

o The errors or mistakes found after the end of the year of assessment in which the assessment is deemed.

o Approval of any exemption, relief, remission, allowance or deduction is granted after year assessment in which the ITRF is furnished; or

o Deduction is granted under ITA or written law gazetted after the ITRF is furnished;

ii. Within 1-year after the end of the year:

o Deduction on expenses is allowed after the payment of withholding tax and related increased taxes.

How to apply for relief?

Taxpayers can make an application for relief by a letter or Form CP15C by stating the reason in detail relating to the application.

Sources:

Public Ruling 7/2020 Appeal Against An Assessment And Application For Relief

https://phl.hasil.gov.my/pdf/pdfam/PR_07_2020.pdf

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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, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

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

Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

#Ktp #Thks

Overview of Transfer Pricing Threshold Malaysia

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Overview of Transfer Pricing Threshold Malaysia :

Every taxpayer who has entered into controlled transactions with “associated persons” is required to prepare transfer pricing documentation.

However, the compliance requirements for transfer pricing documentation may differ depending on the factors, such as gross business income, amount of related party transactions or financial assistance.

Key takeaways:

You will understand: -

1. Duty to prepare transfer pricing documentation

2. Threshold to determine the compliance requirements

Summary of learning:

A) Duty to prepare transfer pricing documentation

i. Taxpayer is required to ensure all related party transaction to be conducted at arm’s length price, i.e. the price which would have been determined if such transactions were made between independent entities under the same or similar circumstances.

ii. Therefore, transfer pricing documentation is important to setting the inter-company pricing arrangements for the controlled transactions.

iii. Example of controlled transactions:

a. Sales or purchases of raw materials, stock in trade or other tangible assets;

b. Royalties / license fees / other types of considerations in connection with use of intangible assets;

c. Management fees including charges for financial, administrative, marketing and training services;

d. Research and development;

e. Any other services not previously mentioned;

f. Rents / lease of assets;

g. Interests; or

h. Guarantee fees.

B) Transfer pricing threshold

i. According to Transfer Pricing Guidelines, taxpayers have to prepare Contemporaneous Transfer Pricing Documentation (full documentation) if:

- Gross business income exceeding RM25 million, and total amount of related party transactions exceeding RM15 million; or

- Provision of financial assistance exceed RM50 million.

ii. Taxpayers who fall outside the above threshold may opt to prepare Abbreviated Transfer Pricing Documentation.

Stay tune in our next ektp on “contents in transfer pricing documentation”

Sources:

- Transfer Pricing Rules 2012:

http://phl.hasil.gov.my/pdf/pdfam/MalaysianTransferPricingGuidelines2012.pdf

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