Reminder for Income Tax (Form E) Submission
Tax season has just begun and it is an obligation for all Malaysian taxpayers to file their return without any delays (before 30 April). For employer, we would like to remind you that now are the time to start preparing the Form E [Return Form of Employer – Remuneration for the Last Calendar Year]! In addition, employers should have prepared the EA form (EA for private sector employees; EC for public sector employees) to all his employees.
As for Companies (LLP, Trust Bodies and Co-operative Societies), the filing of Form E (Borang E) has to be done the latest by 31 March (A grace period till 30 April 2018 to file the Form E online is granted if anyone of the company director or business owner has an e-Filing PIN, which registered to the business entity) even the entity has no employee OR dormant OR has not commenced business during the calendar year 2017. Please be reminded that failure to comply with this mandatory requirement will result in the fine penalty of RM200 (to RM20,000 or to imprisonment for a term not exceeding 6-months, or both).
Reminder for Personal Income Tax Deadline
We would like to remind you about the filing of personal income tax. Here are some important deadlines and please do not forget to check out Personal Tax Reliefs in Malaysia.
To embark on a journey of success one needs the tools of preparedness, foresight, and strategy. We believe that with your continuous support, the Exotic Group can do more to help more ambitious entrepreneurs and play our part in the country!
Thank you.
Eric Yeoh
Managing Partner
Read More in our E-Newsletter April 2018