In addition, the authorities have combined previously separate tax duction items such as purchase of books, computers, broadband installation, etc. into one item called quality living, with a maximum tax deduction of RM2,500.
The amounts for personal relief of RM9,000, dependent parents up to RM3,000, life insurance and provident fund up to RM3,000 remain unchanged.
The Inland Revenue Board reminds
that starting from 2015, anyone with a salary income Bolivia Phone Number List of more than RM34,000 per year (after deduction of EPF) must register a personal income tax account.
Late tax filings face penalties
Based on past experience, the authority will not extend the tax filing deadline, and those who file their taxes late may be fined under the Income Tax Act 1967.
In recent years the Inland
Revenue Board has encourage taxpayers to use fast and ASB Directory convenient electronic tax filing. Last year, it received more than 1.8 million electronic BE tax returns and more than 4.2 million electronic tax returns for various groups.
If the tax return information submitt electronically is correct, the overpaid withholding tax (PCB) can generally be refundeto the designated bank account within 30 working days; however, the refund of handwritten tax returns takes 90 working days.
Some taxpayers used electronic tax returns to report their personal income in early March and received a refund of the overpaid tax before the tax filing deadline.
Taxpayers can visit the electronic tax filing website https://ez.hasil.gov.my or call 1-800-88-5436 for more details.
