Tax Matters during the Movement Control Order 3.0

The Inland Revenue Board has uploaded on its website a list of Frequently Asked Questions on tax matters during the Movement Control Order 3.0. 

SALIENT POINTS

We highlight below the salient points of the Frequently Asked Questions:

Extension of time

Extension of time until 31 July, 2021 will be given for the following:

  • Submission of income tax return for the year of assessment 2020 for the following taxpayers carrying on a business: 
    • Individuals 
    • Resident Individuals (Knowledge/Expert Workers) 
    • Non-Resident Individuals 
    • Non-Resident Individuals (Knowledge/Expert Workers)
    • Partnerships
    • Associations
    • Deceased Persons Estate
    • Hindu Joint Families.
  • Submission of Form CP500 and Form CP204 amendment, where the due date falls in June 2021.
  • Submission of tax estimate (Form CP204) and notification of change of accounting period (CP204B), which are due in June, 2021
  • Submission of real property gains tax return, where the due date falls in June 2021.

Applications for extension of time

Applications for extension of time will be considered for the following:

  • Submission of documents for tax audit or tax investigation purposes within the Movement Control Order 3.0 period.
  • Provision of feedback to Inland Revenue Board letters within the Movement Control Order 3.0 period.
  • Filing of Notice of Appeal (Form Q) to the Special Commissioners of Income Tax, where the due date falls within the Movement Control Order 3.0 period. Taxpayers are required to file a Form N and state that the delay is due to the implementation of the Movement Control Order 3.0.
  • Stamping of instruments. The application for extension of time must be made within 30 days of the date of the instrument.
  • Submission of Country-by-Country Reporting (CbCR), where the financial year end falls within the Movement Control Order 3.0 period.

No extension of time 

No extension of time will be given for the following:

  • Tax estimate payment, which is due in June, 2021.
  • All other tax instalment payments, which are due in June, 2021, relating to tax audit or tax investigation. However, taxpayers may apply to reschedule tax instalment payments.
  • Compound payment.

You may read the Frequently Asked Questions in full here: 

http://phl.hasil.gov.my/pdf/pdfam/faq_pkp3_2.pdf.

Please do not hesitate to contact either of the following persons from our Tax Practice Group if you require any clarification:

Vijey M. Krishnan (Partner) 
(T): 603 – 2632 9868
(E): [email protected]

William Wong (Partner)
(T): 603 – 2632 9905
(E): [email protected]

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