2006 Taxes: General Issues And Submission
We’re into the second month of 2007. My BE form for personal tax valuation came in the mail a couple days back. That means it’s tax season once again. If you have an account open with LHDN, you should be receiving your copy soon. Interesting to note that my name and tax number were already printed on the forms.
Last year, Lembaga Hasil Dalam Negeri (LHDN) Malaysia introduced the electronic tax filing form (eFiling). Being the first year, there were some teething problems at first. I personally think it was a great initiative on the part of LHDN. My only gripe with the system was that you still had to be physically present to sign up for the digital certificate required to use the eFiling system. The alternative to that was to use snail mail. The fact that the digicert is only valid for three years just devalues it further. However, I suppose LHDN had their reasons for doing so (probably a security limitation or some such).
Anyway, the schedule for general issues and submission of 2006 income tax returns for both personal and company income taxes has been released:
| Form Type | Category | General Issue | Submission Deadline |
|---|---|---|---|
| BE | Resident Individual – without business income | 28 February 2007 | 30 April 2007 |
| B | Resident Individual - with business income | 28 February 2007 | 30 June 2007 |
| M | Non-resident Individual | 28 Februari 2007 | 30 April 2007 (without business income) 30 June 2007 (with business income) |
| TP | Estate of Person | ||
| TF | Body of Person | ||
| TJ | Hindu Family Community | ||
| P | Partnership | 28 February 2007 | 30 June 2007 |
| E | Employer | 31 January 2007 | 31 March 2007 |
| C1 | Cooperative Society | 1 June 2006 | 7 months from close of accounts |
| TC | Unit Trust / Real Estate | ||
| TA | Trust Body | ||
| TR | Real Estate Investment Trust / Property Trust Fund | ||
| C & R | Company - With accounts closing: | ||
| January 2006 - Mac 2006 | 1 April 2006 | 7 months from close of accounts | |
| April 2006 - Jun 2006 | 1 July 2006 | ||
| July 2006 - September 2006 | 1 October 2006 | ||
| October 2006 - December 2006 | 1 January 2007 | ||
For working individuals, you’ll just have to wait for your respective companies to issue you the EA forms. If you would like to learn more about 2006 Malaysian Tax, I suggest reading the 2006/2007 Malaysian Tax and Business Booklet (PDF - 1.14MB) published by Price Waterhouse Coopers.
If you plan to file your income tax returns via eFiling, the 2006 Personal Income Tax form (Borang BE) should be released in the coming weeks, probably a couple of weeks after the Chinese New Year celebrations. In the meantime, if you haven’t already done so, now might be a good time to register for the Digital Certificate. Best to catch the LHDN staff before they hit their busy patch. They’ll likely be holding roadshows through the months leading up to the deadline. You can register for the certs during these events as well. Stay tune for more details on venues and schedules.
On that note, do pay attention to the dates above. Don’t be late in doing your self valuation and submitting the income tax returns. If you do, don’t say I didn’t warn you.
Related posts:
WHAT? You Haven’t Filed Your Taxes?
2006 Tax Assessment - Last Day For Submission
Reminder: 2006 Personal Tax Assessment
Efficiency!
eFiling Part 8: 2006 BE Form - Tax Summary
rinnah Said,
February 8, 2007 @ 7:31 pm
Thanks for putting up the 2006/2007 Malaysian Tax and Business booklet by PriceWaterhouse Coopers for download on Boredworkers.com. It’ll come in handy during tax season.
Good luck with the self-assessment. Cheers!
G: Most welcome. Good luck to you too :) Although it is the random checks that I’m more worried about. Hehe.
Maureen Said,
February 13, 2007 @ 11:30 pm
I started working last early last year and i have just received my tax valuation form. I was doing random search on how to fill up the form when this site came
up on my search. The posts in this site are very informative and witty at the same time. LOVE IT !
at least now i know where to get the AE Form…(i need to produce AE Form for my credit card application and i had no idea how to get it…)
p/s : was tempted to say “i love u dude” but then i’m not into public display of affection. Thanks anayway!
G: Congratulations on work and getting taxed. They say it’s a sign of adulthood (methinks they are hoodwinking us). Thanks for the vote of confidence ;) I would love you right back but I’m shy shy :D