Just curious to know... do any of the members in this forum ever get back the "cukai terlebih bayar" from LHDN.... and if you does, how do they transfer the money to you?

probably u need to go there and ask for cheque

btw, ur one unique case, normally people dont overpay taxes

Normally ppl will overpay because company deduct the tax form payslip everymonth. WHen year end you calculated, you mostly will overpay.

I never get back my money as well. zzzzz

Mine was overpay as well. After deductions from insurance, books etc, there is "cukai terlebih bayar". You need to go to LHDN office, and sign a letter asking them to refund the balance to you, or use it to offset your current tax (if any).

The last time I request for a refund, it took about 9 months for the cheque to arrive .

those sucker r putting ur overpaid money in FD to earn the interest. That's why take s o long to return

Hmm .. I heard it takes 2 years for the refund. They will mail you to go to collect the check or something.

I have overpaid taxes last year but this year I have to pay them back, how am I supposed to know they will offset my taxes?

I got a cheque last year because of overpaid. Nowadays, you cam put your bank account number in the form and I think they'll bank it straight away.

I put my bankaccount number in last year and they never bank in the money ...

I been told we need to fill in a request form before they will return your monies to you. Also, don't expect it to come anytime soon. You're NOT allowed to use it to offset the following years' taxes.

Don't ask me why but apparently, that's how the system is *shrugs*

You can use it to offset following years taxes if it has'nt been prepared by IRB.

I think I should give them a call.

@penangmee,
U can offset it for the coming years tax? IF IRB hasn't prepared it yet? Er.. I don't get what u mean by if IRB hasn't prepared it yet. I sure wonder why the hell my 'consultant' told me it can't be offset........ CON me!

Prepared the cheque for refundlah. However you must be sure of the amount coz if you use it to set-off this years tax but under audit it is determine that your tax credit is less than you have calculated than you would have underpaid this years tax!!

1st check from the counter do you have extra $$ in there. If yes, fill in form to request refund.......Normally will take >3months

Check mail to your home...........

This post has been edited by tkhoo: Mar 18 2007, 08:21 PM

Assuming I've NOT submitted a request to send me a refund, I can just deduct the amount off my taxes for this year, and pay the remainder of it?

stargate,

need some help from you or someone could provide me information regarding.

Tax relief on insurance.

does company have any tax relief if they purchase keyman policy contract ?

can it put into expenses in accounting?

thank you very much

Ugghh i don't think you can do that. You're not allowed to deduct yourself without LHDN approval, even though your calculations are right.

Yes you can thats what is known as self assessment. However just for any excess tax to be paid , not for PCB deductions.

---

Added on March 22, 2007, 11:30 pmHope this link is helpful to you.

http://www.hasil.org.my/english/pdf/ruling(2)2003.pdf

This post has been edited by penangmee: Mar 22 2007, 11:30 PM

Don't offset...thats my advice...what ur consultant says its true....IRB balance and payment in ur account for YA2003 and below is still under final assessment stage, meaning that all ur backlog dues and tax payable are being reassess for finalization....the amount can't be used to offset future settlements...

Y/A 2004 & 2005 excess payments will be refunded almost asap...i got mine within 3 mths of submission

Overpaid tax can't be offset by next year tax. They treat each year separately, can't just use last year credit to offset this year taxable amount.

Means that if 2005 you overpaid Rm100 and this year your tax is 1,000, you still need to pay 1,000 first then file a claim back of previous 100. You can't just pay 900. If you pay 900, they will treat as underpaid and can be penalised.