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10/25/2013

Malaysian Budget Speech 2014

Kindly click on the following for Budget Speech (25th October 2013) from MOF:-

English Version : 

Bahasa Malaysia:-




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Discussion 1
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To point 92

To facilitate tax payers with employment income whose MTD have been made, it is proposed that these tax payer are not required to submit tax return if satisfied their MTD is a final tax. This proposal is effective from year of assessment 2014.

>> http://www.hasil.gov.my/pdf/pdfam/3718.pdf

Will incorrect returns (Sec 113 ITA 1967) be imposed if I have an employment income (active income) in common but I have 10 property producing rental income (inactive income) ??


Note: Today's ans from LHDN in National Tax Seminar 2013 (31st October 2013), the deemed final tax is only when your MTD paid is exactly fit to your tax return count. But if there is revise for tax return submission, late submission of tax return penalty will be implemented.