The Inland Revenue Board of Malaysia (IRBM) today reminded taxpayers, who have business income, to submit their Income Tax Return Form (Form B) for Year of Assessment 2016, via e-filing, by July 15, to avoid incurring a penalty for late submission.
In a statement today, IRBM said only five days were left for taxpayers to submit their returns.
Under sub-section 77(1a) of the Income Tax Act 1967, the deadline for submitting Form B for Year Of Assessment 2016 was June 30, 2017. However, this was extended to July 15 for the convenience of taxpayers.
The statement also said under sub-section 112(3) of the Act, a penalty of three times the tax payable would be levied for late submissions.
As of June 30, 2017, the IRBM had received 336,382 Form B for the Year of Assessment 2016 compared with 334,572 such forms submitted in the same period in 2016.
-- BERNAMA
Bernama
Tue Jul 11 2017
IRBM said only five days were left for taxpayers to submit their returns.
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