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we explain 6 Key Sdn Bhd Tax Deadlines for malaysian businuess owners In 2024

6 Sdn Bhd Tax Deadlines In 2024

Meet your 2024 LHDN deadlines

To Malaysian Sdn Bhd owners, we trust your business plans for 2024 includes an awareness of your various statutory tax obligations – otherwise, you wouldn’t be reading this!

For your convenience, we’ve compiled a list of:

  • the six essential Sdn Bhd tax forms
  • their submission deadlines, and
  • non-compliance penalties

Let’s begin.

Overview of Sdn Bhd tax deadlines

The following is a snapshot of the mandatory forms and their respective deadlines.

FormDeadline
Form C7 months from close of accounting period
Form CP204Three months from date of incorporation (new companies) OR 30 days from beginning of basis period (existing companies)
Form E31 March 2024
Form EA28 February 2024
Form PCB229 February 2024
Form CP5831 March 2024

If you’re already familiar with the forms and just wanted to know the deadlines, this should give you enough information to start talks with a trusted tax agent

If you are a new business owner, we recommend reading on for a more in-depth understanding of the purpose behind each form. 

1. Form C

Penalty for non-compliance:  Maximum fine of RM2,000, six months imprisonment or both

Deadline: 7 months from close of accounting period

Purpose: The main income tax return form for companies, used to declare income, claim deductions, and calculate tax payable to LHDN.

2. Form CP 204

Deadline: Three months from date of incorporation (new companies) OR 30 days from beginning of basis period (existing companies)

Penalty for non-compliance:  Maximum fine of RM2,000, six months imprisonment or both

Purpose: Form CP 204 is a tax estimate that details the company’s expected tax for the current assessment year, including estimated income, tax adjustments, and relief information.

3. Form E

Deadline: 31 March 2024

Penalty for non-compliance: Maximum fine of RM20,000, six months imprisonment, or both

Purpose: A statement to LHDN declaring an employer’s total number of employees, payments made to them, and overall tax deductions for the year. Every employee, whether full-time, part-time, or on a fixed-term basis, must be included.

4. Form EA

Deadline: 28 February 2024

Penalty for non-compliance: Maximum fine of RM20,000, six months imprisonment, or both

Purpose: Form EA is a summary of how much wages an employee earned in a year from their employer. It does not need to be submitted to LHDN, but instead to employees so they can accurately report their income to LHDN.

Employers must create a Form EA for every employee that has worked for more than seven days, regardless of full or part-time status.

5. Form PCB2 

Deadline: 29 February 2024

Penalty for non-compliance: Maximum fine of RM20,000, six months imprisonment, or both

Purpose: A statement from employers confirming monthly tax deductions from an employee’s salary throughout the year. Form PCB2 is also intended for distribution to employees, who are required to submit it to LHDN along with Form EA.

6. Form CP58

Deadline: 31 March 2024

Penalty for non-compliance: Maximum fine of RM20,000, six months imprisonment, or both

Purpose: Form EA but for a businesses’ various agents, dealers, and distributors,  detailing monetary (such as allowances, commissions, and bonuses) and non-monetary (such as tickets, accommodation, tour packages, vehicles, and vouchers) incentives given out to them.

Form CP58 is only mandatory for companies paying over RM5,000 per year in incentives, and just like with Form EA, there is no need to submit it to LHDN, only to the repsective vendor.

Let MISHU help with your business tax deadlines

MISHU representative ready to assist with corporate tax deadlines for sdn bhds

Last-minute tax management is a recipe for missed savings opportunities and higher risks of non-compliance penalties (which leads to even less savings).

Engage our tax services early so our team has ample time to work with you to maximise short-term savings and plan long-term tax strategies tailored to your business goals.

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