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 Income Tax Issues

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nothingz
post Apr 29 2009, 02:07 PM

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QUOTE(shadowcaster @ Apr 29 2009, 01:39 PM)
Hey guys, i've paid my income tax using M2U with code 095 but as i was checking my BE pdf on the last page it states at the bottom "kod bayaran 084 and nombor ansuran 99". So should i have paid using 084 instead?? Very confusing.
*
i was confused by it too, just use 095 would be ok

QUOTE(InTheRush @ Apr 29 2009, 02:01 PM)
oops... if i made full payment then in 2008
then i can only deduct from 2008 income tax? and not 2009 onwards?
*
don't think you can claim for 2009 onwards. However, if you can prove that your course will be on for a period of few years, maybe you can argue with the IRB officer to let you apportionate it
jake23
post Apr 29 2009, 04:23 PM

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I would like to use Public Bank online payment serviced.

Last time i used to pay my Streamyx RM66 through Public Bank online payment with PAC request.No problem.

But i am facing problem now...

After i request the PAC,what corparate code do i need to select ?


STATUTORY BODIES
- Kumpulan Wang Simpanan Wang
- Pekerja -EPF
- Lembaga Hasil Dalam Negeri - PCB
- Lembaga Hasil Dalam Negeri - Individual and Corporate Tax
- Lembaga Tabung Haji
- Social Security Organisation (SOCSO)
- Pembangunan Sumber Manusia Berhad (PSMB)

or

GOVERNMENT
- Dewan Bandaraya Kuala Lumpur
- Majlis Bandaraya Shah Alam (MBSA)
- Majlis Daerah Hulu Selangor (MDHS)
- Majlis Perbandaran Pulau Pinang (MPPP)
- Majlis Perbandaran Seremban (MPS)
- Majlis Perbandaran Ampang Jaya (MPAJ)
- Majlis Perbandaran Johor Bahru Tengah (MPJBT)
- Majlis Perbandaran Port Dickson (MPPD)
- Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)
- Majlis Amanah Rakyat (MARA)


I can't find Lembaga Hasil dalam negeri....

There are a few companys only in the selected field to be choose.

Those of u know how to select ,pls help me.
nothingz
post Apr 29 2009, 04:27 PM

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QUOTE(jake23 @ Apr 29 2009, 04:23 PM)
I would like to use Public Bank online payment serviced.

Last time i used to pay my Streamyx RM66 through Public Bank online payment with PAC request.No problem.

But i am facing problem now...

After i request the PAC,what corparate code do i need to select ?
STATUTORY BODIES
- Kumpulan Wang Simpanan Wang
- Pekerja -EPF
- Lembaga Hasil Dalam Negeri - PCB
- Lembaga Hasil Dalam Negeri - Individual and Corporate Tax
- Lembaga Tabung Haji
- Social Security Organisation (SOCSO)
- Pembangunan Sumber Manusia Berhad (PSMB)

or

GOVERNMENT
- Dewan Bandaraya Kuala Lumpur
- Majlis Bandaraya Shah Alam (MBSA)
- Majlis Daerah Hulu Selangor (MDHS)
- Majlis Perbandaran Pulau Pinang (MPPP)
- Majlis Perbandaran Seremban (MPS)
- Majlis Perbandaran Ampang Jaya (MPAJ)
- Majlis Perbandaran Johor Bahru Tengah (MPJBT)
- Majlis Perbandaran Port Dickson (MPPD)
- Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN)
- Majlis Amanah Rakyat (MARA)
I can't find Lembaga Hasil dalam negeri....

There are a few companys only in the selected field to be choose.

Those of u know how to select ,pls help me.
*
your eyes got problem? shocking.gif
deodorant
post Apr 29 2009, 04:40 PM

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QUOTE(nothingz @ Apr 29 2009, 10:55 AM)
LOL, prepare a tax computation for year 2006 and prove them wrong.  don't forget to include the Bonus which you received in Year 2007

Yeah, I've just finished preparing the EA 2006. Turns out after going through my payslips that I had a promotion in Dec06 for which my company paid RM 46.00 in PCB, guess that's where they're estimating from.

After putting in bonus and all deductions I'm still not liable for any tax though, definitely not that RM380 they claim I owe.

Can I just DHL the whole thing with a nice surat rayuan back to LHDN or should I go to the nearest tax office? Around now is a terrible time to go leh.
nothingz
post Apr 29 2009, 04:48 PM

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refer to the letter of IRB, which branch sent it to you. then you can choose to despatch/courier back to them.

if despatch then photostat a copy of your cover letter for acknowledgement receipt by the IRB officer.

if post then courier lor, you want them to acknowledge, photostat a copy of your cover letter put on top of the IRB copy for acknowledgement receipt, then put in an extra envelope with typed with your address + stamp ready. after they received it, they will send back the acknowledgement to you

make sure you keep a copy with you, in case they did not receive it then you have provide them again

This post has been edited by nothingz: Apr 29 2009, 04:52 PM
cute_boboi
post Apr 29 2009, 05:40 PM

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QUOTE(nothingz @ Apr 29 2009, 12:03 PM)
is it really that bad, i was able to log in and proceed with e-filing last night from 7pm onwards
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7pm-10pm+ I went out for dinner tongue.gif
jake23
post Apr 29 2009, 05:43 PM

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QUOTE(nothingz @ Apr 29 2009, 04:27 PM)
your eyes got problem?  shocking.gif
*
I copy the corparate company's name from the web page is for ur reference which show it is payable through Public Bank online pay.The actual corparate company can be selected is slight different from the Public bank web site login.

Below are the thing need to fill in public bank web page:

1)Bill Payment - Select Payee Corporation

2)Step 1 of 4 - Fill in the fields

3)Corporation Code

4)select


When scoll down the cursor,I can't find Lembaga hasil dalam negeri.

Anyone know what corparate company to select ? icon_question.gif



nothingz
post Apr 29 2009, 05:58 PM

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actually what kind of payment you want to make?
jake23
post Apr 29 2009, 06:12 PM

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oops....There's a title below open bills for income tax payment.

I seldom use public bank online banking service.

Last question.....

"What are the operational hours of PBeBank.com Online Banking?
Most of PBeBank.com's online financial services are available from 6am to 12pm."

What is that mean ?Can I pay income tax online after 12:00 pm ?
nothingz
post Apr 29 2009, 06:15 PM

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QUOTE(jake23 @ Apr 29 2009, 06:12 PM)
oops....There's a title below open bills for income tax payment.

I seldom use public bank online banking service.

Last question.....

"What are the operational hours of PBeBank.com Online Banking?
Most of PBeBank.com's online financial services are available from 6am to 12pm."

What is that mean ?Can I pay income tax online after 12:00 pm ?
*
AM or PM?

not sure about that, never tried the online payment before
Trevor Keegan
post Apr 29 2009, 06:20 PM

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Hi,
QUOTE(cute_boboi @ Apr 29 2009, 11:58 AM)
I tried whole day yesterday from office network - leased line with guaranteed upload & download bandwidth, unlike broadband best-effort basis.  sweat.gif  LHDN website too slow. Finally submitted it this morning 1am+  sweat.gif  tongue.gif

Tomorrow (last day) going over to pay by physical cheque and get a physical temporary-receipt (old school  rolleyes.gif  )

Cheat ?  rolleyes.gif  Same like cheating in exam. No one catch/audit you, you are lucky. Get caught, either retake the exam (pay fees/penalty) or get kicked out (tax evasion - court case/jail/etc.) and get sleepless night.

They trace by randomly audit people. Like an interview, they will ask you show this receipt, that receipt, ask you explain this, explain why that, where you stay, with who, what car you drive, got go holidays, overseas/local, see what you wear, etc. If you don't have proper proof ->>  doh.gif

If you say parents/relatives give you money, even better. They'll start audit your dad, mom, uncle, etc.  doh.gif  doh.gif  Drag all in one net.
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I do not believe that LHDN is randomly selecting people, they do have databases, and computer algorithms that they use to select people for audit (this process will be alot easier now that most people are using the e-filing). So they do have a method in their selection (but the exact details are subject to a lot of speculation and the exact methods change regularly)....but having said this, please remember that the LHDN has stated that ALL TAXPAYERS WILL BE AUDITED at least 1 time every (i think) 6 years (once again the wider use of e-filing will be making this easier for them to achieve).


QUOTE(InTheRush @ Apr 29 2009, 02:01 PM)
oops... if i made full payment then in 2008
then i can only deduct from 2008 income tax? and not 2009 onwards?
*
You can only declare expenses that you made in the 2008 tax year. No, you cannot claim expenses that you made after 31 December 2008...or before 1 Jan 2008.

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Software
nothingz
post Apr 29 2009, 06:34 PM

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QUOTE(Trevor Keegan @ Apr 29 2009, 06:20 PM)
Hi,

I do not believe that LHDN is randomly selecting people, they do have databases, and computer algorithms that they use to select people for audit (this process will be alot easier now that most people are using the e-filing).  So they do have a method in their selection (but the exact details are subject to a lot of speculation and the exact methods change regularly)....but having said this, please remember that the LHDN has stated that ALL TAXPAYERS WILL BE AUDITED at least 1 time every (i think) 6 years (once again the wider use of e-filing will be making this easier for them to achieve).
You can only declare expenses that you made in the 2008 tax year.  No, you cannot claim expenses that you made after 31 December 2008...or before 1 Jan 2008.

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Software
*
the 1 time in 6 years is crap, how many tax returns were filed each year and how many IRB officers are there in the country? I have attended a seminar talked by a former IRB officer, he made a calculation that you will only be selected for auditing once in 20 years, however everytime they investigate you, it may be for few years, eg Y/A 2002-2006.

to all of you out there, evade tax at your own risk laugh.gif
princess_autumn87
post Apr 29 2009, 06:37 PM

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I have a personal doubt here about foreign income.

As stated in the Income tax act that all foreign income will be tax exempted.

To my understanding, for those Malaysian who work abroad and pay by the foreign company thus their income is considered as tax exempted.

What happen if I'm Malaysian and remited fund from local bank to overseas broker for investment (like future/option). The investment account is held with the overseas broker and transact abroad. So if I would like to remit my investment back to Malaysia, will it be exempted from tax?

My tax advisor told me that it is taxable on the amount of the fund which i transferred from M'sia to oversea. However, the return of investment from oversea to Malaysia might not be tax but it based on the actual situation.

Anyone can advise on this?

nothingz
post Apr 29 2009, 06:41 PM

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hmm... the trading is done in overseas, i think it should be under the oversea's local government tax
princess_autumn87
post Apr 29 2009, 06:41 PM

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QUOTE(nothingz @ Apr 29 2009, 06:41 PM)
hmm... the trading is done in overseas, i think it should be under the oversea's local government tax
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OMG... that's even worse!!! cry.gif
nothingz
post Apr 29 2009, 06:45 PM

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you can always call our IRB office to inquire but better to talk to those pro la... cause some of them are illiterate.... and better to call after this week cause this week the IRB office is very busy
princess_autumn87
post Apr 29 2009, 06:50 PM

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QUOTE(nothingz @ Apr 29 2009, 06:45 PM)
you can always call our IRB office to inquire but better to talk to those pro la... cause some of them are illiterate.... and better to call after this week cause this week the IRB office is very busy
*
tx for your sincere advise. I have tried but to certain extend but disappinted with their service but nvm. I shall go to visit any reliable tax advisor soon to clarify this doubt.


Trevor Keegan
post Apr 29 2009, 06:52 PM

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QUOTE(nothingz @ Apr 29 2009, 06:34 PM)
the 1 time in 6 years is crap, how many tax returns were filed each year and how many IRB officers are there in the country?  I have attended a seminar talked by a former IRB officer, he made a calculation that you will only be selected for auditing once in 20 years, however everytime they investigate you, it may be for few years, eg Y/A 2002-2006. 

to all of you out there, evade tax at your own risk  laugh.gif
*
What you say may have been the case in the past, because everything was very manual....but now witheverything going on line, it is making it much easier....take it from me it is very possible to select 1000's of assessments for audit....with 1 finger....they can also very easily redefine the selection parameters.

You are right nothingz....evade at your own risk!

QUOTE(princess_autumn87 @ Apr 29 2009, 06:50 PM)
tx for your sincere advise. I have tried but to certain extend but disappinted with their service but nvm. I shall go to visit any reliable tax advisor soon to clarify this doubt.
*
Please let me know if you need some good Tax professionals....my company supports more than 400 Tax professionals around Malaysia.....just let me know what region you are in, and I can put you onto some of them smile.gif

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Software

This post has been edited by Trevor Keegan: Apr 29 2009, 06:56 PM
princess_autumn87
post Apr 29 2009, 07:00 PM

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QUOTE(Trevor Keegan @ Apr 29 2009, 06:52 PM)
What you say may have been the case in the past, because everything was very manual....but now witheverything going on line, it is making it much easier....take it from me it is very possible to select 1000's of assessments for audit....with 1 finger....they can also very easily redefine the selection parameters.

You are right nothingz....evade at your own risk!
Please let me know if you need some good Tax professionals....my company supports more than 400 Tax professionals around Malaysia.....just let me know what region you are in, and I can put you onto some of them  smile.gif

Regards
Trevor Keegan
www.taxsaya.com
Malaysia's First FREE Multi-Lingual Tax Software
*
hrm, i might need one. can u pls kindly let me know how u charge for the consultant fees. I hope your firm can do something different and get REALLY advisable consultation
nothingz
post Apr 29 2009, 07:01 PM

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one more thing i want to say about those option/future, those are like capital transactions, either gain or lose also won't subjected to our local income tax (just like our share market trading).

that's just my thought on it tongue.gif

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