Basic Concepts on Tax Planning for Individuals Ways you can lessen Income Tax for Employees, Service Directors, and the Employers get full tax deduction expenses. Since tax planning for individuals has many ways, this article will talk about using available tax benefits because of Tax Planning. One tax benefit that is available is the “benefit-in-kind” […]

Who must pay the Company’s tax liabilities in case they fail to pay corporate yearly and monthly tax deductions? Based on the Section 75A Income Tax ACT 1978 (ITA), the company “director” is liable. The Act pertains to a “director” as someone who: Holds the “director” post or whatever they call it, and holds the […]

Understand 2020 Malaysian Budget Proposal What is shown here is the prepared budget according to the Budget 2020 speech made last October 11, 2019. The principal tax proposals that affects or that are relevant to SME and Individual Tax Payers.   Corporate Income Tax Used for Small and Medium Enterprises (SME) The Current One: SME […]

Know the Process of Tax Estimate Submission in Malaysia Using Form CP204 The tax estimation submission in Malaysia under Section 107C of the Malaysian Income Tax Act, 1967. The recommended form of the first submission is Form CP204 and revising the Form CP204A initial submission.   What is the Proper Way to Submit the Tax […]

Why Accounting Records Keeping is a Mandatory Requirement for Retirement in Malaysia Accounting records keeping in Malaysia is a requirement under the Malaysia Income Tax Act, 1967 Section 107C. The Form CP204 is recommended form for the 1st and the Form CP204A is recommended to make the initial submission revision.   How Can You Submit […]

Know About Foreign-Sourced Income – Malaysian Income Tax Malaysia doesn’t tax foreign-sourced income, for businesses like insurance, banking, sea and air operations.   References for Income Tax Act, 1967 Section 3 Income Tax Act, 1967 (ITA) says that “income shall be charged for the income of any person accruing in or derived from Malaysia or […]

Know the Due Dates of Income for All Return Forms – Year 2019 Who is accountable for paying the tax liabilities of the company if it fails to pay the corporate and monthly tax deductions to employees on due dates? Based on the Income Tax Act 1967 (ITA), Section 75A, the company “director” is responsible. […]

Understand LHDN – Penalties Without a Notice Some penalties are charged by LHDN without giving a notice or telling the concerned party. One of it falls under Section 107C(9) Income Tax Act, 1967. Penalty S 107 C (9) is for the unpaid tax amount instalment, CP204 without a notification to the tax payer or tax […]