Filing income tax returns a breeze for early birds
PETALING JAYA: With less than six weeks until the deadline, many Malaysians have filed their income tax returns for better financial planning and management.
Nurul Nadia Omar said she submitted her Year of Assessment (YOA) 2023 earlier this week after constant nagging from colleagues, who had rushed her to do so.
She said the process was smooth.
“There weren’t many hiccups. My colleagues helped me navigate the system,” said the 28-year-old, who filed her income tax for the first time.
She said her workmates were worried and had been pushing for her to file upon finding out that she had not done so last year.
“Thankfully, there was no penalty for the late submission of YOA 2022,” she said.While she has yet to receive a refund, Nurul Nadia said she would save the money for the rental deposits on her new home.
“Every little bit helps,” she added.
Malaysians have until April 30 to file their YOA 2023.Under the Special Voluntary Disclosure Programme 2.0, those who have yet to clear their taxes, had wrongly declared or did not declare past years’ incomes can submit their files with no penalty by May 31.
A content writer, who only wished to be known as Ramia, said she had filed her tax returns diligently since starting working nine years ago.
“It is better to do it early so that the refunds are processed sooner. Also, (better to do it early) to avoid traffic on site,” she said.Ramia, who is from Bukit Mertajam, also praised the Inland Revenue Board for the easy and convenient tax return mechanism.
Zaharuddin Ali said he prefers to file his tax returns early to avoid any penalties.
The 53-year-old recalled a past experience of him being barred from leaving the country after he forgot to file his income tax for several years.
“It was a hassle … Not to mention the fine I had to pay on top of the overdue taxes.
“I learnt my lesson. Now, I file my taxes as early as possible,” Zaharuddin added.
He also reminded other taxpayers to keep all related documents and receipts as the tax department could call them up for checks.
Tax expert Datuk Koong Lin Loong said there is generally a 15-day grace period for Malaysians to submit their tax returns after the April 30 deadline.“But I advise taxpayers to not always wait for the grace period,” he said.
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