LHDN releases important dates for filing tax returns in 2024.
Under the Income Tax Act 1967, whether you are a Malaysian citizen or a foreigner, you are obliged to file a tax return if you reside in Malaysia for more than 182 days in a year and have an income.
Many people are confused between filing and paying tax. In fact, filing tax return and paying tax are two different things. Filing tax return is just presenting your financial status in the past year to the government, while paying tax is handing over the tax on your income to the government. Everyone who earns an income is required to file a tax return, but you are only required to pay tax if your income meets certain criteria.
Employers are required to file their employees’ tax returns using Form E by March 31st of each year, while regular wage earners and those who are not in business are required to file their own tax returns using Form BE, BT, M, MT, TP, TF or TJ by April 30th of each year.
If you are in business, you have until June 30 to complete the process of filing your taxes using Forms B, P, BT, M, MT, TF, TP and TJ.
Here you will find 2 dates for Forms BT, M, MT, TF, TP and TJ, which are April 30th and June 30th. This mainly depends on whether you have a business or not, the deadline for filing tax return is April 30th if you don’t have a business while the deadline for filing tax return is June 30th if you have a business.
After filing your tax return, you must keep all the relevant documents or receipts to facilitate the Inland Revenue Department (IRD) to show evidence when they come to inquire. It is advisable to keep all relevant documents for more than 7 years.
Important Dates for 2024 Tax Return (Deadline)
March 31, 2024: Form E
April 30, 2024: Form BE, BT*, M*, MT*, TP*, TF* or TJ*
June 30, 2024: Forms B, P, BT*, M*, MT*, TF*, TP* and TJ*
**Taxes need to be filed by April 30 for those who do not have a business and by June 30 for those who do have a business.
**Use electronic filing (e-Filing) to get an extra 15 days to file your tax return
