Attention all working people! Have you completed your tax return? If you chose to submit a handwritten tax return, you have until 30 April to complete it. If you have chosen to file your tax return electronically, then you will need to submit the form by 15 May.
Everyone who works or does business in Malaysia is obliged to submit a tax return. Many people confuse filing tax returns with paying taxes. In fact, filing a tax return is simply reporting your income for the past year to the government, while paying a tax return is submitting tax to the government. A person who files a tax return does not necessarily have to pay tax; he or she only has to pay tax if his or her income exceeds a certain amount.
From the calculation of the Malaysian personal income tax rate schedule, tax may only be payable if the current year’s income exceeds RM37,333 or the annual income after EPF exceeds RM34,000.
