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Tax Estimation. Pursuant to subsection 107C (7A) of the ITA: Companies are required to submit Form CP204 by e-Filing from the Year of Assessment 2018. Trust bodies, cooperatives and Limited Liability Partnerships (LLPs) are required to submit Form CP204 by e-Filing from the Year of Assessment 2019.
Businesses are allowed to revise their estimate of tax payable in the month of the third monthly tax instalments, where the third-month tax instalment falls in 2020.
Aug 11, 2020 · OPERATIONAL GUIDELINE NO. 2 YEAR 2020. Amendment of Tax Estimate (CP204) In The 3rd Installment Falling On The Calendar Year 2020 And Deferment for Payment of Tax Estimate (CP204 And CP500) Under The Economics Stimulus Package 2020.
2020. Based on the FAQ on MCO, an extension of time until 31 May 2020 is given for the payment of the revised instalment due on 15 April 2020. Taxpayers (SMEs and the tourism sector) which are deferring their tax instalment payments are still entitled to the special revision. 3-month deferment for SMEs and 6-month deferment for tourism sector
All industries are eligible to apply for revision of tax estimate in the month of the 3 rd monthly tax instalment, provided the 3 rd monthly tax instalment falls in the calendar year 2020.
IRB’s FAQs on revision of estimate of tax payable and deferment of tax instalment payments arising from COVID-19 measures. As highlighted in earlier alerts, a number of tax and non-tax measures have been announced as Malaysia’s response to the COVID-19 pandemic, including the following:
FAQ on the revision of estimate of tax payable in the 11th month for the years of assessment (YAs) 2021 and 2022 and the deferment of tax instalment payments for micro, small and medium enterprises (MSMEs) (“FAQ”). The FAQ was first issued on 25 November 2021. The latest version was updated on 3 December 2021.
