Reminder for Income Tax (Form E) Submission
The commencement of New Year always signals that the tax season is right around the corner. It is time to start preparing the Form E [Return Form of Employer – Remuneration for the Last Calendar Year]! The law mandates the employer to furnish this EA form (EA for private sector employees; EC for public sector employees) to all his employees. Employer should prepare and render to his employee a statement of remuneration on or before the last day of February of the following calendar year for each employee to complete and submit his or her personal tax return, including new, existing, and resigned employees.
For Companies, LLP, Trust Bodies and Co-operative Societies – It is mandatory to file the Form E (Borang E) by upcoming 31 March (grace period till 30 April 2018 for e-filing) even the entity has no employee OR dormant OR has not commenced business during the calendar year 2017. 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. Failure in submitting Form E will result in the fine penalty of RM200 (to RM20,000 or to imprisonment for a term not exceeding 6-months, or both).
Important Dates in Exotic Group
We would like to inform that our office will be closed for Chinese New Year, from Thursday, 15 Feb 2018 to Tuesday, 20 Feb 2018. During the Chinese New Year close down period, our partners, directors and staff will have no access to the emails and all emails will be attended to once we resume operations on the next working day mentioned therein. We would like to take this opportunity to wish you all Happy Chinese New Year!
Much of the credit for Exotic Group’s success is due to you – our dedicated employees, partners, and clients. I would like to thank each and every one of you for your hard work, passion, and the part that you have played in our company’s success. I look forward to your continued support as, together, we take Exotic Group into 2018.
Thank you.
Stephanie Chua
Managing Partner
Read More in our E-Newsletter February 2018.