Please click here for the FAQ issued by LHDN
The FAQ appeared to be the latest policies of LHDN in response to the Movement Control Order 3.0 (full lockdown).
We have summarised our findings as follows:
1. Companies (Sdn Bhd/Bhd)
There is no further extension of time. Tax returns for companies must be submitted within 8 months from the financial year end.
The deadlines are as follows:
With this, it means companies would not be able to take advantage of the 90 days extension given by Companies Commission of Malaysia (SSM) - as the tax returns must be submitted within 8 months from the financial year end.
For example, a company with financial year ended 31.12.2020:
SSM would allow the audit report be submitted by 28.10.2021 (after 90 days extension).
However, the company’s tax return must be submitted by 31.08.2021. And this would mean that the audit report must be ready by 31.08.2021 in any case, as the company’s tax return must be prepared based on audited figures.
For our clients who are facing difficulties in meeting the tax deadline, please contact us immediately so that we can assist in applying for a special extension of time from LHDN. We understand LHDN may consider such application on case-by-case basis.
2. Taxpayers carrying on businesses
For individuals who are carrying on business (e.g. sole proprietorships and partnerships), the deadline for filing the tax return will be extended from 15 July 2021 to 31 July 2021.
3. Payment of tax
a. There is no extension or deferral of monthly tax instalments (CP204).
b. There is no extension or deferral of MTD data submission and MTD/CP38 payment remuneration on employment. The MTD/CP38 payment which is due on 15 June 2021 is payable on time.
c. No extension of time is given to compound payments which are due in June 2021.
d. LHDN may allow rescheduling of instalment payments and deferment of outstanding penalty on case-by-case basis. Taxpayers must submit cash flow documents such as bank statements, projections and sales records for LHDN’s consideration.
4. CP500/CP204 Amendments
For CP500 and CP204 amendments which are due in June 2021, extension of time will be given until 31 July 2021. Application can be made through e-mail to:
a. CP500 (firstname.lastname@example.org)
b. CP204 (email@example.com / e-CP204A)
5. Real Property Gain Tax
LHDN has granted extension of time for RPGT returns due in June to be submitted by 31st July.
Updated this on 03.06.2021