Pay Income Tax Malaysia 2010 Online Via e-filing
According to LHDN Malaysia website (Lembaga Hasil Dalam Negeri or Inland Revenue Board of Malaysia ), with the implementation of the self assessment system for individual taxpayers in the year 2004, no more notices of assessment (Form J) will be issued to taxpayers. The Return Form submitted will be deemed as a notice of assessment.
What Is Income Tax ?
Income tax is a tax chargeable on individuals, companies, cooperatives and others who are in receipt of employment, business, dividend, rental, royalty, pension and other incomes.
Why Pay Income Tax ?
Well, I know everyone who has to pay income tax is reluctant to pay it because we don’t know what we will get for paying taxes. Here, I want to give some reasons why to pay tax and the first and priority one is to build the schools and public hospitals for everyone. Besides that, don’t forget about public library, civic centre, think paved roads, sidewalks, Zoo and other infranstructure which are important to each one of us.
When To Pay Income Tax Malaysia 2010 ?
For individual taxpayers, you need to pay income tax on or before 30 April 2010.
How To Pay Income Tax Malaysia ?
Now, you can pay income tax via LHDN’s e-filing website. The entire filing process is done online and all calculations will automatically calculated after you key in the amount. The entire process is simple and easy to use. If you are not able to finish e-filing at one time, you can save your work and come back again to complete the tax filling in anytime. If you are a first timer to use e-filing, I encourage you to read e-filing user guide and FAQ from e-hasil website.
During the Malaysia 2010 budget, the Malaysia Individual Income Tax Rate for year 2010 is reducing from 27% to 26% for the highest income level. Therefore, Malaysia income tax range is from 0% to 26%. Here I would like to share with you the Individual Income Tax Rate 2010 to know who has to pay income tax Malaysia.
| Eligible Chargeable Income | RM | Rate (%) | Tax (RM) |
| On the First RM 2500 | 2500 | 0 | 0 |
| On the Next | 2500 | 1 | 25 |
| On the First RM 5000 | 5000 | - | 25 |
| On the Next | 5000 | 3 | 150 |
| On the Next | 10000 | - | 175 |
| On the Next | 5000 | 3 | 300 |
| On the First RM 20000 | 20000 | - | 475 |
| On the Next | 15000 | 7 | 1050 |
| On the First RM 35000 | 35000 | - | 1525 |
| On the Next | 15000 | 12 | 1800 |
| On the First RM 50000 | 50000 | - | 3325 |
| On the Next | 20000 | 19 | 3800 |
| On the First RM 70000 | 70000 | - | 7175 |
| On the Next | 30000 | 24 | 7200 |
| On the First RM 100000 | 100000 | - | 14325 |
| On the Next | 50000 | 26 | 13000 |
| On the First RM 150000 | 150000 | - | 27325 |
| On the Next | 100000 | 26 | 26000 |
| On the First RM 250000 | 250000 | - | 53325 |
| Exceeding RM 250000 | 250000 | 26 | - |
Although most of the people will not enjoy the 1% income tax reduction which only benefited to the rich one, you can still enjoy some benefits as announced earlier on:
1) Tax relief up to RM 500 per year for internet Broadband subscription fee from 2010 to 2012.
2) Personal relief is increasing from RM 8000 to RM 9000.
3) EPF contribution and life insurance increased from RM 6000 to Rm 7000. Please be remembered that this increase is for relief on annuity premium paid from 1 January 2010.
So, are you eligible to pay income tax 2010? If yes, then don’t wait till last day to pay tax because you might not able to pay income tax on time due to high traffic of e-filling website. Do submit the income tax efiling earlier to avoid the delay. Do you know that for any tax due and payable but has not been paid by the taxpayer by the due date shall be increased by 10% and any balance remaining unpaid upon the expiration of 60 days from the due date shall be further increased by 5% of the balance unpaid. For all taxpayer, do remember to keep all the recods and relevant receipts or documents for at least 7 years for investigation purpose.
Conclusion:
If you have any information on tax evasion / avoidance of paying income tax, kindly contact LHDNM at 03-62012929 / 03-62092614 / 03-20955372 / 03-20962607 / 03-20956406 or e-mail to [email protected]
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