Inland Revenue Board

The IRB has announced various measures to assist taxpayers cope with their tax obligations during the Movement Control Order period.

Key changes to the updated FAQs

Subsequent to the extension of Movement Control Order (“MCO”) period to 12 May 2020, the Inland Revenue Board (“IRB”) has updated its Frequently Asked Question (“FAQ”) on 28 April 2020 to provide clarification on the tax matters during the MCO period from 18 March 2020 to 12 May 2020.

The key changes to the updated FAQs are highlighted below:

Part A (General) – in relation to operations of IRB premises and counters during the MCO and extension of time for submission of documents to the IRB;
Part B (ezHASIL) – in relation to the e-Filing system;
Part C (Forms) – in relation to the extension of time for submission of various return forms;
Part D (Payment) – in relation to the extension of time for submission of various type of payments;
Part E (RPGT) – in relation to the extension of time for the submission of RPGT return forms and payment;
Part F (Stamp Duty) – in relation to the stamping procedures during the MCO period.

Meanwhile, the IRB has issued a Media Release on 26 March 2020 to shed light on the announcement made by the government in relation to the deductibility of the contributions made to the COVID-19 Fund. Further, the Ministry of Finance (MOF) has also issued a Special Guideline on Application for Tax Deduction on Contributions to a Charity or Community Project to handle COVID-19 Outbreak.

Please find below the relevant links for further details:

IRB FAQ on tax matters during the MCO period (18 March 2020 to 12 May 2020) dated 16 April 2020 –
Source: http://www.hasil.gov.my/pdf/pdfam/faq_2.pdf

IRB media release dated 26 March 2020 –
Source: http://www.hasil.gov.my/pdf/pdfam/Media_LHDNM_26032020_INSENTIF_POTONGAN_CUKAI_BAGI_SUMBANGAN_KEPADA_TABUNG_COVID19.pdf

Initiatives & Measures

PERKESO

The Wage Subsidy Program, Employment Retention Program and Employment Insurance System have been introduced to assist businesses in dealing with the COVID-19 outbreak.

Loans for SMEs

Several financing facilities have been introduced under the Economic Stimulus Packages to help businesses cope with the COVID-19 outbreak.

Employees Provident Fund (EPF)

Employers have been given an option to apply for deferment and restructuring of employer’s share of EPF contributions.

Human Resources Development Fund (HRDF)

Employers have been given a 6-month exemption from contributing to the Human Resources Development Fund.