Individual Income Tax


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Income Tax Act states that with effect from the year of assessment 2004, income derived from outside Malaysia and received in Malaysia by a resident individual is exempted from tax.

The key point here is that, the income must be derived from outside Malaysia meaning the money remitted from outside Malaysia & the money is not generated in Malaysia meaning the server that host the website must be outside Malaysia.

This was based on my communication with IRB Contact Center. Below is my question & answer by them.
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Similar to previous years, this is the time where we have to prepare and submit individual income tax return form to IRB. For 2012, the last date to submit the individual income tax return form is on the 30th April 2013 for individual without business income. The date for individual with business income is on 30th June 2013.

Any delay is subjected to penalty as below;

Any tax due and payable but has not been paid by the taxpayer by the due date shall be increased by 10% and any balance remaining unpaid upon the expiration of 60 days from the due date shall be further increased by 5% of the balance unpaid.

If you are not sure what are tax exemption, rates, reliefs and rebates, you can read here.

Which form to fill in?

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Today, 30th April is the last day for individual taxpayers to submit their Form BE. If you are not ready to submit the form, there is a good news to you.

The dateline is extended by another 15 days BUT only applicable to taxpayers who opt to submit the Form BE by e-Filing. So, the taxpayers who choose to submit their forms and pay taxes via e-filing will now have up to 15th May to do so.

The 15-day grace period was also extended to those who had their own businesses, which would allow them to submit and pay via e-filing by 15th July.

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Tax

The easiest & most convenient way to submit income tax return form is via e-Filing. Normally, e-Filing system start to open on 1st of March for previous year tax assessment. e-Filing system can be used to submit e-BE, e-B, e-M, e-E, e-P and e-M form.

For information, the dateline to complete e-BE and e-M income tax return is on 30th April while for e-B and e-P and e-M is on 30th June.

Below are simple guides on how to do e-Filing.

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Similar to previous years, this is the time where we have to prepare and submit individual income tax return form to IRB. For 2010 individual income tax, the last date to submit the individual income tax return form is on the 30th April 2011.

Any delay is subjected to penalty as below;

Any tax due and payable but has not been paid by the taxpayer by the due date shall be increased by 10% and any balance remaining unpaid upon the expiration of 60 days from the due date shall be further increased by 5% of the balance unpaid.

Read more to find out more information on free tax software, tax exemption, deduction, rates, reliefs and rebates for individual for year 2010.

If you are not sure what are tax exemption, rates, reliefs and rebates, you can read here.

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