Taxpayers whose income is affected by the Covid-19 pandemic and the implementation of the ongoing total lockdown (FMCO) will be able to tap into several tax and penalty-related flexibilities offered by the Inland Revenue Board (LHDN). This came following the announcement of the PEMERKASA+ stimulus package by Prime Minister Tan Sri Muhyiddin Yassin earlier this week.

According to a statement by LHDN, one of the flexibilities offered to taxpayers includes the deferment of tax penalty payments to the following year. This is provided the affected individuals continue to comply with the payment of the principal amount of tax payable. “The penalties included in this offer are penalties imposed in accordance with the Income Tax Act 1967, the Real Property Gains Tax Act 1976, and the Stamp Act 1949,” said LHDN.

Aside from that, LHDN is also enabling tax repayment rescheduling options for taxpayers who have lost their source of income or face issues in settling tax arrears due to the MCO. This is on top of the board’s offer to revise the penalty imposed if taxpayers have strong reasons to support their request for this flexibility. LHDN further said that taxpayers who wish to tap into this aid will need to appeal against the penalties imposed, and the appeals will be considered on a case-by-case basis.

“Taxpayers who wish to apply for this relaxation are recommended to contact the LHDNM branch office that handles their income tax files. However, unaffected taxpayers will have to continue paying taxes as required by the law in force,” the board said.

You can find out more about the flexibilities offered by LHDN during the FMCO period in the FAQ prepared by the board. The FAQ also contains detailed information on other tax-related matters, including the subject of sending income tax returns and payments.

Individuals who have inquiries or feedback can also contact the LHDN via its HASiL Careline at 03-8911 1000/603-8911 1100 (overseas). Alternatively, they can use the HASiL Live Chat or the Customer Feedback Form on the LHDN’s official portal.

(Sources: LHDN, The Malaysian Reserve)

• TAGS:
• FMCO
• Income Tax
• Income Tax Act 1967
• Lembaga Hasil Dalam Negeri
• LHDN
• PEMERKASA
• Real Property Gains Tax
• Stamp Act 1949
• Stimulus Package
• Tax
• Tax Penalty Deferment
• Tax Repayment Rescheduling