Submission of income tax Forms through e-filing starts on Sunday, March 2

For taxpayers like you and me, it's wise to get things done early.

You can start submitting your Income Tax Return Form for the Year of Assessment 2013, through e-filing starting Sunday.

The Inland Revenue Board (LHDN) said in a statement Thursday that the dateline for employers (Form E) is March 31, while for residents and non-residents with non-business income (Form BE and M), it is April 30.

The deadline for residents and non-residents with business income (Form B and M) as well as partnerships (Form P) is June 30.

For queries and further information, contact the LHDN call centre at 1-300-88-3010 or log on to the LHDN website at www.hasil.gov.my. The same dates apply for manual submission.

It is a job you and me need to fulfill. So, let's pay what is due.

Source: Inland Revenue Board, LHDN

Deadline to send BE forms via e-Filing extended to May 15

Illustration by savemoney.my

Attention, Tax Payers!

Lembaga Hasil Dalam Negeri (Inland Revenune Board) said in a statement that the deadline to send the BE income tax return forms via e-filing is May 15, 2013.

That's good news as everyone has been preoccupied with the GE13 and probably many high income earners wouldn't be able to send their forms in by April 30.


Some dates to take note:

• Those who prefer to fill up the forms manually, the deadline remains on Tuesday, April 30.
• Last date to apply for PIN for e-Filing via e-mail is on April 30.

Deadline postponed to May 15, 2013
via Bernama

KUALA LUMPUR: The deadline to send the BE income tax return forms for income earned from non-business and to pay the tax balance via e-filing has been extended to May 15, the Inland Revenue Board (IRB) said yesterday.

IRB public relations officer Masrun Maslim the extension was to encourage more taxpayers to use the electronic system which was easier and faster.

“However, for taxpayers, who prefer to fill up the forms manually, the deadline remains on Tuesday. We encourage them to send the forms by post to make sure the IRB receives the forms on May 3, at the latest,” he told Bernama.

Masrun said the IRB had always encouraged taxpayers to fill up the forms via e-Filing as it could not only save cost but would also ensure the safety of the personal income tax data sent to the IRB.

“The e-filing method also helps to preserve the environment as we use less paper,” he said.

To date, the IRB has received about 1.5 million various income tax statements through e-Filing as compared to 1.4 million forms in the same period last year, he said. Masrun said the response for e-Filing has been very encouraging, accounting for 70 per cent of the total income tax returns received last year.

“Over-deducted income tax can also be processed quickly for taxpayers who have filed their tax returns via e-Filing,” he said.

“I’m sure the problem of sending in the forms late after the deadline has lapsed can be avoided as e-Filing is easier, accurate and safe,” he added.

According to the IRB website, the last date to apply for personal identification number (PIN) for e-Filing via e-mail to send in BE forms is on April 30.

TheGreenMechanics: Now, you cannot use the 13th General Election (polling day on May 5) as an excuse to not submit yours.

Taxpayers to get refund in less than 30 days

That's right.

Taxpayers who filed their taxes via e-filing will receive their refunds within 30 days. Tax refunds will be credited directly into their bank accounts.

Inland Revenue Board, IRB head office in Kota Kinabalu

IRB public relations officer Masrun Maslim was quoted by Daily Express (March 25, 2012) to have stated that the refund would be made using Electronic Fund Transfer (EFT) system, which can shorten the processing time under a month.

“The process is done online and refunds will be credited directly into their bank accounts declared to the board when they fill up their Income Tax Return Forms (ITRFs),” he said in a statement in Kuala Lumpur.

The process could be expedited even further if tax-payers had submitted their ITRFs through e-filing. Tax payers must however, ensure that the information, such as their names and identification card numbers match the details in their declared bank accounts. Any discrepancies will result in delays.

Last year, the board approved as many as 1,270,000 refund cases. Of that, 285,261 cases or 24% were processed through EFT. The number of refund through electronic fund transfer is still far from IRB’s target due to a number of reasons, such as:

1. Taxpayers are still apprehensive when declaring their bank account information when filling out the Forms,
2. Bank accounts declared inactive,
3. Bank accounts frozen or closed,
4. Taxpayers had submitted passport and/or identification card numbers that did not match the information in their bank accounts.

I found, through online readings, that there are taxpayers who get refunds as soon as after 1 week of filing through e-filing. If I recall correctly, last year the amount of tax overpaid to the board was refunded to me in less than a month. So, this should be good news.

Get paid 2% if IRB refund late

Meanwhile, to show accountability on the part of IRB, starting from Year of Assessment 2013, a taxpayer who has submitted the income tax return within the stipulated period will be entitled to a compensation of 2% per annum on the amount of tax refunded late by the IRB.

The 2% compensation is payable where the amount refunded is made after:

• 90 days from the due date (for e-filing); or
• 120 days from the due date (for manual filing); whichever is applicable.

Compare this to the current 10% penalty on taxpayers who are late in paying the outstanding tax or are late in submitting their returns, and you would feel hard done by.

I agree. The quantum should be similar in two ways, vice versa.

References:
1. Tax budget 2012
2. Inland Revenue Board of Malaysia