AS the adage goes, the only thing certain in life is death and taxes. Yup, It's that time of the year again to file your income tax. A recent post on TikTok, however, claimed that the Inland Revenue Board (LHDN) is introducing a new monthly tax deduction system which will result in higher taxes. Is this...
PETALING JAYA: Individual taxpayers need to submit their income tax returns via e-filing beginning from the assessment year 2024, says the Inland Revenue Board of Malaysia (IRB). It said this also applies to those in the categories of partnerships, Hindu joint families, associations and deceased persons' estates. "Consequently, IRB will no longer accept submissions manually or via...
KUALA LUMPUR: A tax rate exceeding 20% will be set for individuals who earn an income of over RM100,000, says Datuk Seri Amir Hamzah Azizan (pic). The Finance Minister II said this in his winding-up speech on the Supply Bill 2025 debate in the Dewan Rakyat late Wednesday (Nov 13). However, he did not specify if the RM100,000...
KUALA LUMPUR: The tax-related charges against Datin Seri Rosmah Mansor (pic) are flawed and violate her right to a fair trial under Article 5 of the Federal Constitution, the High Court heard. Rosmah’s lawyer, Datuk Firoz Hussein Ahmad Jamaluddin, argued that no proceeds of unlawful activity were generated by the alleged failure to declare income tax. He...
CYBERJAYA: Thousands of Klang Valley businesses will be inspected for tax compliance by officers from the Inland Revenue Board (LHDN) and Royal Malaysian Customs Department as part of Ops Metro 2024, says Datuk Dr Abu Tariq Jamaluddin. The LHDN chief executive officer said the newly announced joint operation will see over 1,000 officers from both LHDN...
PUTRAJAYA: The Inland Revenue Board (LHDN) has extended the deadline for submission of tax return forms for the assessment year 2023 for taxpayers who operate businesses to July 15. LHDN clarified that this extension applies to various taxpayer groups: Resident Individuals with businesses, Partnerships, Resident Individuals (knowledgeable/specialised workers/non-citizens in key roles), Non-Resident Individuals (knowledge workers), Organisations...
PUTRAJAYA: Individual and non-individual taxpayers can submit their Tax Return Form for the Year of Assessment 2023 through e-Filing starting today, says the Inland Revenue Board (LHDN). It advised taxpayers to use the e-Filing service through the MyTax portal at https://mytax.hasil.gov.my or through the HASiL official portal at https://www.hasil.gov.my. Tax agents are encouraged to use the Tax Agent e-filing System...
KUALA LUMPUR: Datuk Seri Dr Ahmad Zahid Hamidi claims that he was once ordered to pay RM13mil in income tax when Lim Guan Eng was finance minister. The Deputy Prime Minister also claimed that Lim had done so due to his "hatred for Umno and Barisan Nasional". "I was ordered to pay RM13mil income tax although I...
