Sunday, 17 Jan 2021
GENERAL
13/01/2021 01:10 PM

KUALA LUMPUR, Jan 13 -- The Inland Revenue Board of Malaysia (IRBM) is currently implementing the centralisation and decentralisation of certain categories of taxpayer files in line with the government's policy on tax treatment for small and medium enterprises (SMEs).

The IRBM said the implementation is also to meet the requirements of the Transfer Pricing Guidelines 2012, effective Jan 1, 2021.

"It is also carried out to ensure that the taxpayer file management is more organised, efficient and always updated based on current needs," it said in a statement today.

There are six taxpayer file criteria which involve taxpayer files of companies in Peninsular Malaysia with actual turnover of at least RM50 million per year; and taxpayer files of companies listed on Bursa Malaysia and Federal Government-linked companies from all IRBM branches in Peninsular Malaysia.

In addition, it involves taxpayer files of companies which have transactions with related companies outside Malaysia based on certain threshold; and taxpayer files of companies related to the upstream or downstream petroleum industry, insurance or takaful, and financial activities (excluding financial institutions headquartered in Sabah and Sarawak).

Next, it also involves individual taxpayers (OG and SG) files, including High-Profiled Individuals (IBT) from CPCB; as well as taxpayer files using zip codes 47100 to 47190 (Kinrara and Puchong) which are currently managed by the IRBM Petaling Jaya branch.

"Nearly 97,000 tax files will be involved in this centralisation and decentralisation process and each taxpayer will be notified in stages via email or letter (for taxpayers who do not have email). The notification can checked through the MyTax application," said the statement.

For more information, the public can contact Hasil Care Line at 03-8911 1000 or 603-8911 1100 (Overseas); HASiL Live Chat; and Feedback Form on the IRBM official portal at the link https://maklumbalaspelanggan.hasil.gov.my/MaklumBalas/ms-my/   

-- BERNAMA

 

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