Employer’s Tax Awareness and Preparatory for 2020 Form E via ZOOM Online Platform
Pursuant to subsection 83(1B) of the Malaysian Income Tax Act, 1967 (“MITA”), it is mandatory for all employers (including dormant and/or have not commenced business) to submit the Employer’s Return (“Form E”) for the year ended 31December 2020 to the Malaysian Inland Revenue Board (“MIRB”). The deadline to submit Form E for the year 2020 electronically is by 31 March 2021.
Preparing and completing the Form E can be challenging to employers as they need to ensure that every detail of their employees together with their income is reported correctly as per the requirements by the MIRB. Otherwise, the MIRB has every right not to process and accept the Form E submitted. Furthermore, incorrect submission of the Form E is an offence and shall on conviction, bring about a liability to a fine of not less than RM200 and not more than RM20,000or to imprisonment for a term not exceeding 6 months or both under subsection120(1) of the MITA.
Meanwhile, employers must also be aware of the tax obligations besides the correct reporting of Forms E and EA. Most employers may not be aware of their tax obligations and it is sometimes difficult for them to comply with the law due to the challenging nature of work in respect of the different assignment/employment of the employees.
- To learn step by step to complete the 2020 Forms E and C.P. 8D
- To share the practical issues in completing the Forms E and C.P. 8D
- To learn the latest updates on the Section 83 of the MITA and new MIRB’s prescribed forms relating to employer’s tax obligation
- To understand the practical issues in relation to the employer’s tax obligations with a major focus of the employer’s audit by the MIRB