It was reported in The Star newspapers yesterday that the Inland Revenue Board (IRB) is urging more people to use the free e-Filing service to file their income tax returns.
Despite the ‘Big-Brother-is-watching’ fears that many have, doing e-Filing of returns has several advantages over the conventional manual filing of tax returns. I’ll list some of them here:
- For those who are tardy in remembering deadlines (or love doing things at the last minute), e-Filing offers a further grace period of 15 days from its official deadline to file your tax returns. This means that if were to file your returns manually, the deadline for submission for an individual who doesn’t carry on a business is 30th April, while it’s 15th May for the same individual submitting his return via e-Filing. For one carrying on a business, the deadline is 15th July compared to the manual filing of 30th June.
- An additional bit of good news for users of the e-Filing system is that in the event that a tax return (even with the extended deadline) is submitted late, the rate of penalty stipulated by IRB can be reduced by 5% if the relevant tax return is submitted via e-Filing.
- In the event a taxpayer is entitled to a tax refund (as in the case of most employees), the tax refund would be processed faster (ie. you’ll get your refund earlier) compared to those doing filing manually.
- Most importantly, the e-Filing system is automated and takes care of the additions and calculations by itself and limits the reliefs that a taxpayer is entitled to according to the reliefs’ treshhold. This means that the taxpayer will avoid unnecessary computational mistakes which if not, will result in unnecessary penalties!
The IRB’s official tax filing programme for 2013 has been commented on by me in my earlier post.
The full article from ‘The Star’ is reproduced below:
IRB urging more people to use free e-Filing service
The Star Malaysia
2 April, 2013
PETALING JAYA: The Inland Revenue Board (IRB) is urging more people to use the e-Filing electronic system to file in their income tax.
Its public relations officer Masrun Maslim said Malaysians should use the IRB’s free e-Filing service as it is easy to use, saves time and preserves the environment by using less paper.
“This year, we are targeting about three million forms to be submitted by tax payers using e-Filing,” he said in a telephone interview.
Masrun also said that if there were open requests by corporations for IRB to do roadshows at company premises, it could be considered.
However, companies would need to have at least 200 to 250 staff members to use the service to make the trip worthwhile, he said.
He reminded tax payers who are submitting hard copy forms to send in their income tax forms before April 30 while those submitting online could do it by May 15.
Asked if any date extension would be given in view of the coming general election, Masrun said that the dates would remain the same but IRB would make an announcement if there were any need for change
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