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The Income Tax (Deduction for Expenses in relation to Secretarial Fee and Tax Filing Fee) (Amendment) Rules 2021 [P.U. A) 471/2021] provide that a deduction, capped at RM15,000 per YA, shall be given to a resident person who has incurred the secretarial and tax filing fees in the basis period for that YA (i.e., the requirement for the fees to ...
The Inland Revenue Board (IRB) has issued its guideline dated 8 February 2017 on the tax deduction of secretarial and tax filing fees under the Income Tax (Deduction for Expenses in relation to Secretarial Fee and Tax Filing Fee) Rules 2014 (“the Rules”). The guideline explains the tax treatment for deduction of secretarial and filing fees.
The following table provides an overview of the deduction for Expenses concerning Secretarial and Fees Tax filing effective YA 2022. Expenses relating to secretarial and tax filing fees incurred during the basis period for YAs 2020 and 2021 have not yet been claimed for deduction
the tax treatment for claiming the deduction for secretarial fees and tax filing fees from YA 2022 onwards. Members may read these Guidelines in full by accessing the references below.
Generally, tax deduction is allowed for all outgoings and expenses WHOLLY AND EXCLUSIVELY INCURRED IN THE PRODUCTION OF INCOME. UNDER SECTION 33 ITA 1967 However, please note that business expenses vary among types of business and industries and IRB may assess based on common industry practices and examine the object of the expenses and their
On 17 August 2022, Lembaga Hasil Dalam Negeri Malaysia (LHDNM) issued a revised Guideline on deductible expenses related to secretarial as well as tax filing fees from Year of Assessment (YA) 2022 onwards.
The expenses in relation to secretarial fees and tax filings fees which were incurred in YAs 2020 and 2021 but were not claimed, will only be allowed for deduction if the expenses are paid in YA 2022 or YA 2023.
