21 Jun - 2 min read
The Inland Revenue Board (LHDN) has increased the maximum limit for income tax payments made through FPX, making it more convenient for taxpayers to carry out their transactions online. The new limit will take effect immediately.
In a statement, LHDN clarified that the maximum limit for business-to-business (B2B) and business-to-consumer (B2C) transactions will be updated as such:
|Transactions||Existing maximum limit||New maximum limit|
|B2B||RM 1 million||RM100 million|
“The new transaction limit applies for the payment of income tax through ByrHASiL, which can be accessed on the official portal, and also through the online banking service of all banks that are appointed as LHDN’s collection agent,” the board commented.
Despite this revision, however, the board reminded taxpayers that their transaction limit is still subject to the maximum withdrawal limit that is set by their own respective banks. As such, they will need to first consult their banks and request for approval to increase their personal maximum withdrawal limit before they can tap into the benefits of LHDN’s latest update.
As always, taxpayers with any enquiries and feedback regarding this matter can contact LHDN through its HASiL Careline at 03-8911 1000 or 603-8911 1100 (overseas). Alternatively, you can use the HASiL Live Chat or the feedback form on LHDN’s official portal.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world