The income tax return for individuals with business income is known as Form B. (income other than employment income).
Individuals who pay taxes in Malaysia and have a business income, such as a sole proprietor, a partner, or the other individual.
Form B must be submitted by June 30, 2022. (e-filing: July 15, 2022)
Yes. In accordance with section 112(3) of the ITA 1967, you shall be penalised. According to section 90(3) of the ITA 1967, the Inland Revenue Board of Malaysia (IRBM) will issue a notice of assessment, and the taxpayer is required to pay any extra taxes (and the original tax, if it is still owed), within 30 days of the date of the notice’s issued.
Records, papers, and worksheets must be maintained for seven years in case they need to be used as references or as proof.
Let us assist you in registering your Malaysian business
