Submission of Income Tax Return Forms (Form C and Form E)

The Inland Revenue Board of Malaysia (“IRB”) has made it compulsory for dormant companies and/or companies which have not commenced business in the year ended 2014 to submit the following Income Tax Return Forms (ITRF) within the stipulated dates as stated below:

1. Return form of Company for Year of Assessment 2014 (Form e-C)
a) Grace Period for Submission via e-Filing
- Within eight (8) months from the date following the close of the accounting period.

b) Failure to Submit within the Stipulated Date
- A penalty (equal to treble the amount of that tax) can be imposed under subsection 112(3) of ITA 1967 based on the due date for submission of ITRF.

2. Return form of Employer for Remuneration for Year 2014 (Form e-E)
a) Grace Period for Submission via e-Filing
- Not later than 30 April 2015.

b) Failure to Submit within the Stipulated Date
- A compound (not less than RM200 and not more than RM20,000 or imprisonment not exceeding 6 months or both) can be imposed under paragraph 120(1)(b) of ITA 1967.