The Malaysian Inland Revenue Board further updated a set of “frequently asked questions” (FAQs) concerning taxation relief provided in response to the coronavirus (COVID-19) pandemic.
The government issued an order limiting movement for the period from 18 March 2020 to 14 April 2020. In relation, the tax authority has extended due dates for making installments of tax (due on 15 April 2020) to 30 April 2020 and has deferred the time for making monthly tax installment payments for three months for small and medium size enterprises and for six months for companies in the tourism sector. The monthly tax installment payments to accompany form CP500 for March 2020 and for May 2020 can be deferred without the imposition of penalties.
Read an April 2020 report prepared by the KPMG member firm in Malaysia
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