Tax – Company

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Tax – Company

FAQ – Company

1) Who are responsible for the tax matters of a Company?

The following individuals are responsible for tax matters of a company:

  • Manager or other principal officer
  • Directors of the company
  • Secretary of the company
  • Any person who performs the functions or duties of the persons mentioned above

 

2) Who and when to register company’s tax file?

A person who manages and operates the company is responsible to register company’s tax file.

When a company commences operations, they need to apply to register a tax file.

 

3) How to register tax file for a company?

Application for income tax reference number can be made at the nearest branch to the company’s correspondence address or at any IRB branch of your convenience without reference to the company’s correspondence address.

 

4) What is the next step after registration?

You are required to submit Form CP204 (estimation of tax payable) to the Information Processing Department, Bandar Baru Bangi, Selangor once the business has commenced. There are special treatment for SME and non SME.

For new companies, monthly instalments on estimated tax for current financial year must be paid beginning from the sixth month of the basis period from the date of commencement of business operation.

A company is also required to submit C and R Forms within 7 months form the closing date of its financial accounts. Both forms can be obtained from the Information Processing Department, Bandar Baru Bangi, Selangor.

 

5) How to submit tax return forms?

Under self assessment system, i.e. from beginning year of assessment 2001 a company has to self assess its own income tax payable and submit the assessment to IRB using Form C. Explanatory note and tax guide on how to complete form C is also provided by IRB to assist a company on the tax preparation. Form C will be issued by IRB base on the companies’ accounting period. Companies should receive the return form at least 3 months before the date of submission of the form.

 

6) What is the due date to submit company’s income tax return form?

The submission of the Form C should be made within 7 months after the close of the accounting period which constitutes the basis period for the year of assessment. The duly completed Form C has to be submitted to the following address:

Inland Revenue Board of Malaysia
Information Processing Department,
Menara Hasil
No.3 Jalan 9/10, Seksyen 9
43659 Bandar Baru Bangi
Selangor Darul Ehsan

Currently Form C is submitted together with Form R for the same year of assessment.

 

7) How can a company obtain the tax refund?

Credit in the account will be refunded to the company after the company has submitted its tax return form. If you do not receive the refund, an appeal can be made in writing to IRB.

 

8) How does a company apply for their tax payment position from IRB?

If the Company requires a statement of the tax payment position, the Company can obtain it by calling or writing to the Collection Unit of the IRB.