Discover 'A Must-Watch for HR/Payroll Team,' a series that simplifies the complex world of taxes for HR and payroll professionals. Explore crucial topics such as perquisites, Form E, and the preparation of Form EA.
Form CP22 is a notification form used by employers in Malaysia to inform the Inland Revenue Board (IRB) about new employees. Employers are required to submit this form within 30 days of an employee's start date.
Form E is a declaration report to inform the Inland Revenue Board (IRB) of the number of employees in the company and their income details. It is mandatory for employers to submit Form E via e-filing no later than 30th April 2025. Form EA is a summary of an employee's annual compensation and required contributions. Form EAs are important for personal income tax purposes and must be submitted to the employees by the last day of February following the end of the financial year (31st December). Failure to submit Form E & EA is considered an offence and may result in a fine of up to RM 20,000, or imprisonment for 6 months, or both. You might be overwhelmed by the hassle of filing Form E and EA, and that is exactly why you need to understand every aspect of Form E and EA.
Are you ready to take control of your paperwork? YYC Director Ms Chew will guide you throughout the session and provide step-by-step guidance on how to handle the documentation for Form E and Form EA.
As an employer, one of your statutory responsibilities is to prepare Form EA to your employees. Watch this course to learn all you need to know about preparing Form EA!
Form E is a crucial document that must be filed by every employer at the end of each tax year. The due date for submission of Form E for Year of Assessment 2022 is 30 April 2023. The course will provide you with step-by-step instructions on how to fill out the form accurately and you will gain a comprehensive understanding of the process and requirements for submitting this important tax document. By the end of the course, you will have the knowledge and skills to confidently file Form E on time and accurately, avoiding any unnecessary legal or financial implications.
If you are employing employees to work for you, there are a number of statutory requirements that you need to comply with under the Income Tax Act, such as notifying the Inland Revenue Board of new employees, submitting Form E, deducting tax from emoluments...the list goes on! So as an employer, make sure to watch this course and get a clear understanding of your responsibilities under the Income Tax Act.
As an employer, have you ever thought about how to appreciate and reward the employee's hard work? Other than salaries and wages, there can be many more types of perquisites that employers can provide to their employees to attract and retain the best employees. Perquisite can be defined as benefits in cash or in kind that are convertible into money in the course of exercising the employment. Perquisites received by employees can be either taxable or exempted from tax. Explore on our video to learn how perquisites can be packaged into employee's remuneration and understand how these perquisites will affect the tax treatment on your employees' income tax.