Updated: Oct 22, 2022
On September 27, 2022, the DESIRE Dialogue No.1/2022 was hosted by the Inland Revenue Board of Malaysia (IRBM) in collaboration with the Chartered Tax Institute of Malaysia (CTIM) and other professional organisations to explore concerns about compliance and operations.
The e-TT system was introduced by the Inland Revenue Board of Malaysia (IRBM) to facilitate tax payment for several types of income tax using Telegraphic Transfer (TT), Electronic Fund Transfer (EFT) and Inter-Bank GIRO (IBG) for both domestic and outside Malaysia taxpayers.
The system will generate Virtual Account Number (VA) as the unique transaction identification number for each tax payment transaction.
The system has been available and used since April 1, 2022.
Introducing the VA account number and closing the existing IRBM bank account has surprised many taxpayers.
Can IRBM consider a transition period where no penalties are imposed for late payment of taxes made via e-TT (i.e., income taxes, petroleum income taxes, compounds, taxes of public entertainers, withholding tax, RPGT)
The IRBM has granted the taxpayer an exemption from the implementation of increases or a late payment tax penalty for all payments received late between April 16 and April 30, 2022.
Since April 2022 is the first-month e-TT is implemented, any payments made between the 16th and 30th of the same month are granted exemption from imposition of penalty as a concession.
Our website's articles, templates, and material are solely for reference. Although we make every effort to keep the information up to date and accurate, we make no representations or warranties of any kind, either express or implied, regarding the website or the information, articles, templates, or related graphics that are contained on the website in terms of its completeness, accuracy, reliability, suitability, or availability. Therefore, any reliance on such information is strictly at your own risk.
Keep in touch with us so that you can receive timely updates |
6. LinkedIn ✍ https://www.linkedin.com/company/74734209/admin/