Client’s Update #2

By March 31, 2020Uncategorized

All IRBM premises (including e-Filing counters) nationwide will be closed from 18 March 2020 to the end of the MCO period.

Submission to LHDN to commence from 15 April 2020

  • Forms CP21, CP22, CP22A or CP22B
  • e-Residence
  • Tax Clearance Letter (TCL)

Donation to the TABUNG covid-19

IRBM would like to announce that tax deductions Incentives will be  given to donors  who  donate cash or items  to be used to address  The spread of Covid-19 outbreaks and to The People who are affected  by the outbreak.

The Incentives provided under the  income  Tax  Act  (ITA) 1967  are  to:

  1. Covid Fund-19 (Ministry of Health Malaysia)
  • Type of contribution: cash and goods
  1. Covid-19 Fund (National disaster Management, Prime Minister ‘s department )
  • Type of contribution: cash only
  1. Donations to institutions/organisations approved under subsection 44 (6) of the ITA 1967.

All contribution need to be supported by acknowledgement receipt with official chop prescribed by MOF. Supporting must be kept for verification by LHDN.

LHDN extension of time to taxpayers be given until 30 April 2020 where the due date falls within this period 18 March 2020 until 14 April 2020

  • Submission of documents for audit or investigation within the period of 18 March 2020 until 29 April 2020
  • Required to provide feedback to IRBM letters by taxpayer
  • Submission of Statement of Monetary and Non-Monetory Incentive Payment to An Agent, Dealer or Distributor (Form CP58)
  • Submission of Notice of Appeal to the Special Commissioners of Income Tax (SCIT) [Form Q]
  • Submission of Form CP204B
  • Submit CP204 tax estimates
  • First payment of CP500 tax estimates
  • Deferment and revision of tax estimate payment (CP204) in the 3rd month (for March 2020 cases) instalment in 2020 under the Economic Stimulus Package.
  • Payment of withholding tax.
  • Submission of data and payment of MTD / CP38 on remuneration from employment.
  • Submission of RPGT return forms and payment

ECONOMIC STIMULUS PACKAGE FOR THE PEOPLE 2020 – Objective No 2: Business Support

  • Moratorium loans – postponement of loans for a 6-month period
  • Danajamin – security facility for sector impacted by COVID-19
  • Small & Medium Enterprise.
  • SRF funds and other funds – Reduced interest from 3.75% to 3.5%.
  • Micro Credit: Additional funds of RM500 million at 2%.
  • Postponement of EPF and others
  • To postpone EPF contribution for 6 months for all employees
  • HRDF contribution for 6 months exemption for all sectors

Jabatan Kastam Diraja Malaysia (JKDM) operations

  • All operations of the Royal Malaysian Customs Department will be open as usual.
  • Application/renewal related to customs matters can be submitted online (online) and supporting documents must be enclosed together as appendix (attachments) in email.
  • Customers are advised to make phone calls to the nearest Customs office for any advice.
  • The period of submitting any statement and payment ended in 31/03/2020 is EXTENDED to 30/04/2020. Penalties incurred for payments made before or in 30/04/2020 will be given full remission.

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