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Category: Malaysia News

Published: 14 April 2020

Due to government's extension on the Movement Control Order, our Malaysia office will be continued closed between 15/04/2020 (Wednesday) to 28/04/2020 (Tuesday). We will try our best to have all correspondence via email & WhatsApp during this period and we sincerely apologies for any delay in replying.

Sorry for any inconvenience caused and thanks for your understanding.

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Category: Malaysia News

Published: 13 April 2020

Some Malaysia authorities have extended the submission and payment due date again.

Companies:

SST: Tax on certain manufacturing and services 对特定制造业及服务征收的销售与服务税

Withholding Tax: Tax withhold from non-registered person (payee outside Malaysia) and pay back to LHDN within one month from the date of payment 从国外收款人的款项中扣除，并在付款后一个月内呈报给马来西亚内陆税收局

Form C: Company income tax 公司所得税

CP 204: Tax estimated by company before the financial year and pay instalment to LHDN every month 在财政年度之前预估，并分期预付的公司所得税

Business criteria for SME status are as follows:

i.Have a paid-up capital of less than or equal to RM2.5 million ordinary shares at the beginning of the basis period for a year of assessment; and

ii.Have a gross business income of RM50 million and below

* The sources of data that will be used by the IRBM in order to determine whether the SMEs qualify for the deferment of estimated tax payment is based on YA 2018 Return Form received by the IRBM

Enterprises:

Individuals

Form B: Personal (Tax resident) income tax who doing business in Malaysia 在马来西亚进行生意的个人所得税

Form BE: Personal (Tax resident) income tax who do not carry on business in Malaysia 在马来西亚没有进行生意的个人所得税

Form P: Partnership income tax 合伙生意所得税

Form M: Non-tax resident income tax (no matter whether doing business in Malaysia, also inclusive employment income) 非税务居民的个人所得税（包括工资收入）

CP500: Tax instalment calculated by government according to previous income 政府根据之前公司收入预估的预付所得税

Employers:

Form E: Return form by employer on employee remuneration for previous year 呈报上一年员工薪酬的表格（每间公司无论前一年是否有聘请任何员工都需要呈报）

EPF: Statutory contribution for retirement funds 法定雇员公积金

SOCSO: Social Security Insurance 社会保险

EIS: Employment Insurance 就业保险

PCB: Monthly tax deduction which is a system of tax recovery where employers make deductions from their employees’ remuneration every month in accordance with the MTD Schedule 根据税务系统算出的员工的预付所得税

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Category: Malaysia News

Published: 08 April 2020

Government has widened the eligibility criteria and increase the subsidy amount for Wage Subsidy Programme for local workers earning not more than RM4,000 for a period of 3 months

Effective from: April

Last application date: 15 September 2020

Effective period: 3 months

Supporting documents:

• List of employee names;
• Employer's bank account information (Copy of Bank Statement cover only);
• Business Registration Number (BRN) information registered by the employer at the time of opening the bank account;
• Copy of SSM / ROS / ROB / Professional, Scientific or Technical Services / Business License authority;
• Professional, Scientific or Technical / Business License;
• PSU50 Account Declaration*; and
• Supporting documents such as financial statements or sales reports that have been verified by management or other related documents.

* PSU50 can be downloaded HERE and Employee Listing can be downloaded HERE while BRN can be downloaded HERE also.

Employer can apply for WSP although received ERP (Employment Retention Program) before this. But they cannot apply WSP for those employees who receiving ERP at the same month

If a voluntary termination of an employee occurs within the first 3 months of the Wage Subsidy Program, the employer will only need to update the employee's eligibility information in the system

If an employee works with Company A and Company B and contributes to SOCSO, both companies are eligible to apply for the Wage Subsidy Program

The employer will be notified of the status of the application whether approved or rejected by email. The list of employers who have approved the Wage Subsidy Program application will also appear on the SOCSO website; eiscentre.perkeso.gov.my includes the number of approved employees

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Category: Malaysia News

Published: 07 April 2020

The revising on the submission due date for Perkeso (Socso and EIS) has finally been gazetted.

Starting from the contribution for April 2020 to September 2020, the submission due date for both Socso and EIS will be changed from the fifteenth day following the salary month to the last day of the following month.

Example:

Please click HERE to view the Gazette.

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Category: Malaysia News

Published: 06 April 2020

• Wage Subsidy for Employee Monthly Salary not more than RM4,000

• • Period: 3 months
  • Conditions:
    • Registered with SSM or other local authorities and Perkeso before 1 January 2020
    • Shall retain employees for 6 months (3 months while receiving the subsidy and 3 months afterwards)
• Government suggest private premises owners to reduce their rental rates at least during the MCO period and 3 months after the MCO ends.
  • Owners of buildings or business spaces that provide rentals or leases to renters of business premises consisting of small and medium enterprises will be given an additional tax deduction equal to the amount of the rent reduction for April 2020 to June 2020.
  • These additional tax deductions are subject to the terms of the deduction rent, which should be at least 30% of the original rental rate for that period
• Government allow a 25% reduction in foreign workers' levy payments to all companies whose work permit expires April 1 to December 31, 2020
• Government has agreed to encourage mutual agreement between employers and workers on the terms of employment, including the option of pay cuts and the provision of unpaid leave during the MCO period
• Government has agreed to grant a moratorium automatically within 30 days of the MCO last date for the company to submit a statutory document to SSM.
• The filing period of the company's financial statements was also extended to 3 months from the date of the MCO. This flexibility is given to companies with financial years ending September 30 to December 31, 2019. However, the company will need to apply for such extension from SSM without charges