News

Resident Individual - Tax Relief YA 2021

Source: LHDNM

Special Deduction – Rental Reduction To SME and Non SME

Gazette Order:

SME: https://drive.google.com/file/d/1SdN94UPuSqribIpmN5HdriABE22dDoPX/view?usp=sharing

NON SME: https://drive.google.com/file/d/176MVNmr49Dq0W9FAlb6QJfT3jLJLt2MS/view?usp=sharing

FAQ: https://drive.google.com/file/d/1x6pVEfR0rfOQDdZIIvDKKQmATD47p3he/view?usp=sharing

 

 

Incorporation of Sdn Bhd vs Registration of Enterprise Part 1

 

Important Announcement from HRDF

Pembangunan Sumber Manusia Berhad (PSMB) or also known as the Human Resources Development Fund (HRDF) is broadening its access by expanding the coverage of the PSMB Act 2001 effective 1st March 2021.
 
 
The registration of HRDF employers under the new industries takes effect from 1st March 2021.
 
✅✅Employers with 10 or more Malaysian employees are COMPULSORY to register with HRDF.

✅✅The monthly levy is charged at the rate of 1% of the monthly wages of employees.

✅✅HRDF Levy payment is applicable for Malaysian employees only.
 
 

Release of Form E Year 2020 by IRB

 

Link: http://www.hasil.gov.my/bt_goindex.php?bt_jborang=4&bt_tahunbor=2020&bt_kump=2&bt_skum=3&bt_posi=1&Submit=Cari

  • A gentle reminder: Due date to submit Form E via Manual Filing and Electronic filing is 31.03.2021 & 30.04.2021 respectively.
  • For Companies (eg. Sdn Bhd and Bhd) is compulsory to submit Form E via Electronic Filing even the company is dormant or inactive.
  • Other than Companies (eg. Sole Proprietorship & Partnership) with employees have to submit form E via Manual filing or Electronic filing.
  • Offences: failure to submit Form E will be liable to a fine of not less than RM 200 and not more than RM 20,000 OR to imprisonment for a term not exceeding 6 months or to both under the Income Tax Act Section 120(1)(b)

 

**UPDATED as at 19.01.2021