hhhmm... so in that case, if you're a sole proprietorship company, do you fill in borang B or borang BE (dengan punca pendapatan)?

Hi,

If you are Sole Proprietor then you will fill in the the Borang B (which is not due until the end of June).

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

tonight have to go LHDN to submit my form

Hi,

Why not try the e-Filing....then you do not have to go the LHDNM

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

Regarding the efiling, do we need to submit the dividen voucher,ea form,insurance,accounts or any other documentation to them or no need?

how about the signature part, how do we sign on efiling ?

what programs or tools do we need? adobe reader,scanner to scan the document etc

You do not need to submit anything besides filling up the forms online. But you have to keep those related (like what you mentioned above) for 7 years from your submission.
i.e. if one fine day they decided to knock on your door, you'll need to provide those documents for their investigation.

Hi


If you have a refund case, then you are required to complete the HK-3 and take this along with the dividend vouchers to the IRB branch. If you are not getting a refund that you do not need to do this.

With regards to the other documents, these are things that you must keep. If you get yourself a copy of TAXSAYA, the paid version will identify the documents that you need to keep for Tax Audit purposes, and will prepare the necessary supporting documentation


This is done using the digital certificate, which replaces the manual filing. All you have to do is press the Tandatangan button on the last page of the e-Filing. Please also ensure that you print the e-Borang for your future reference.


If you are using e-Filing you just need a browser + your PIN Number.
I would suggest though that you download a FREE copy of TAXSAYA from www.taxsaya.com

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

Hey i wanna ask something.

There is a sudden dispute of income tax in the whole office due to our new Financial Manager. Most of the staff in the company, the company gives us company car and use. That includes petrol and other travelling claims.

Are these claims taxable ? and what about vehicle are they taxable as well. Cuz i've noticed that my EA form they included our vehicle and we have to pay tax for those as well ?

If those are taxable it's kind crap that we're getting nothing out of it but getting taxed in return ? Should it be fair if at least those claims taxable should entitle for EPF benifit as well ?



This post has been edited by MSA: Apr 29 2008, 02:51 PM

BENEFIT IN KIND

USE OF CAR
The use of a company car is deemed as a benefit in kind to you. Yes, unfortunately it is taxable and there is nothing much you can do about it. The alternative to this could be even more scarier. You could claim an allowance for the use if you own car. An allowance which is fixed and could be used to pay for the car itself. This FULL sum which is normally MUCH higher than your benefit in kind is taxable.

What you could do to avoid this is using a company car which is stored in the company's premise after working hours. In that instance, there is no PRIVATE use and thus the company would not be charging a Benefit in Kind on your EA Form.

Petrol & Traveling Claims
If they are CLAIMS ( ie. payments that are being reimbursed from actual receipts ), these claims are not taxable.
If your company pays you a fixed sum of allowance which you use to pay for your claims (receipts with you and not submitted to the office) then you could try to offset these amounts.
Please refer to the "traveling expense" under EXPENSE in TAXSAYA

This post has been edited by TaxSingam: Apr 29 2008, 04:14 PM

Good day,

The vehicle thing have caused everyone in my office so much controversy because in the past we put that taxable and it have been like that for 8 years All the sudden change of a new Finance Manager have caused quite some distress. But what about EPF. It's sorta weird that we have to tax our company car but we don't get EPF benefit

But anyway there's nothing much i can do about it cuz 2morrow is the last day

EPF law only covers wages and actual cash payments.

Sigh ... Next time i tell my boss ... I'll just put my car here when work finish

Hi. I got this EPF Deduction from e-mail (Blue text below). May I know how this work. As we could see the EPF + Life Insurance is total of RM6000 only. My EPF is higher than this amount. Thank you.

Contributions to the employees Provident Fund (EPF) by employers are tax-exempt for the employees.

To reduce your taxable income , ask your employer to reduce your EPF monthly salary but increase your EPF contributions by the same amount.

Tax Deduction :
The deductible amount from your taxable income is dependent on the arrangement between you and your employer.

For Mr A : Mr A agrees to takle monthly pay cut of RM 1000 for an equivalent increase in his EPF contributions by his employer.At the end of the year , he receives an additional RM 12000 in his pension fund but his taxable income is reduced by the same amount.

The tax saving that he makes is RM 2880 ( RM12000@24%)

You can't exceed the limit amount set (Rm6000) for the tax relief.

What the blue colour statement, yes, contribution of EPF is tax exempted.

Eg. When you are earning 3K/month, you are actually earning 3K + employer's EPF contribution. <-- that's what your blue colour statement meant tax exempted.

But in your taxable income you reported is 3k only. So when you pension time, you withdraw the EPF money (employee's contribution part) then you are withdrawing your previous earning which is tax exempted.

Unless you are nearing pension and eligible for the EPF withdrawal, for normal people, it takes 10, 20 or more years before they can see the benefit of the tax exemption.
I do think it is a loop holes. But wait, if not mistaken EPF got restriction how much EPF (in term of % of your salary) can be contributed.

Max can reduce RM6k. Next year really have to hire someone to access my tax. Every year getting higher and higher. Don't want to think about it any more. Just pay the balance. Haha.

Thank you.

may i know when is da last day we shall pay the tax?

Hi,

If you have business Income then the last day is 30 June 2008
If you are only a salary earner then the last day is today.

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

Am currently facing a problem while paying my income tax via cimb. This error message pop out " Cukai No / Tax No is invalid" once i click submit. I've double checked my tax no (OG2036xxxxxxx) already, and it's correct.

Anyone know what's the reason behind this?

Thought was May last few years, they extended 1 month?

One observation on Self Relief of RM 8000. This figure has been there since when?

Shouldn't it should be reviewed since the price of essential goods are increasing annually?

RM 8000 per year translated to roughly RM 667 per month. How an individual could survive in today's world with that figure.

What you guys think on the revision of the self relief (Individu dan saudara tanggungan)? Perhaps to RM 10k, 12k or even higher.