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Form B

Form B (Personal tax with business income)

What is Form B?

The income tax return for individuals with business income is known as Form B. (income other than employment income).

Who needs to submit Form B?

Individuals who pay taxes in Malaysia and have a business income, such as a sole proprietor, a partner, or the other individual.

What is the deadline for Form B?

Form B must be submitted by June 30, 2022. (e-filing: July 15, 2022)

Is there a penalty if I file Form B after June 30th?

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.

Why must I maintain all the source documents for seven years?

Records, papers, and worksheets must be maintained for seven years in case they need to be used as references or as proof.

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