Salaried taxpayers’ tax filing days are numbered, have you filed your tax return yet?
According to the tax filing schedule issued by the Malaysian Inland Revenue Department (LHDN), salaried persons using the e-BE electronic form have until May 15 to file their tax returns. Salaried persons using handwritten forms are required to file their tax returns by April 30, and those who fail to complete their tax returns within the deadline may be subject to penalties.
If you’ve filed your taxes in previous years, it’s a good idea to continue to do so each year thereafter. Even if you have not yet reached the tax threshold, it is recommended that you continue to file your tax return for the next few years to avoid being targeted by the Inland Revenue Department and asked to explain why you have not filed your tax return.
If you are planning to buy a fancy car or property, then it is best to file a tax return. This way you can prove your source of income without getting a letter from the Inland Revenue asking you to explain your source of income.
After filing your tax return, you must keep all the relevant documents or receipts so that you can produce evidence when the Inland Revenue Department comes to make inquiries. It is better to keep all relevant documents for more than 7 years.
