Following the instituting of Movement Control Order (MCO) by the government of Malaysia, the Malaysian Inland Revenue Board (MIRB) has provided the following information in relation to tax matters under the Economic Stimulus Package (ESP):
i) Extension of time for submission of CP204/ CP204A and tax payments
- Extension of time up to 30 April 2020 will be given for CP204 payment which fall in the period of 18 March 2020 to 31 March 2020.
- For revision of tax payable via CP204A of the 6th and 9th month which is due by 31 March 2020, an extension of time up to 30 April 2020 will be given.
- Extension of time for tax payments will be given until 30 April 2020. Therefore, payments received will not be subjected to tax increase.
ii) Deferment and special revision of tax estimates
- Companies have an option to defer tax installment for six (6) months commencing 1 April 2020 until 30 September 2020 (i.e. for tourism-related companies via application)
- Companies have an option to revise tax estimates in the 3rd month if the 3rd month installment falls in March 2020 (via application)
Whilst the MIRB did not state a deadline for submission of the application, applicants who wish to have their installment which falls due in April 2020 (i.e. on 15 April 2020) to be deferred under the ESP measure must submit the application and secure the IRB's approval on or before 15 April 2020. Until or unless approval is secured, obligations to comply with its existing tax installment payment schedule remains.
iii) Monthly Tax Deductions (MTD) for employees
- Due payments to MIRB can be made before 30 April 2020.
NOTE: The updates above are in line with the extension of time given to taxpayers to submit documents during the Movement Control Order. The information provided is correct at the date of the release of this update. Therefore, the accuracy and reliability may be subject to subsequent changes.
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