The Inland Revenue Board of Malaysia (LHDNM) has introduced the Malaysian Income Tax Reporting System (MITRS), an online platform for submitting tax information and documents required under Section 82B of the Income Tax Act (ITA) 1967. This initiative aims to facilitate the determination of chargeable income and tax payable.
1. Implementation Timeline:
Starting from the Year of Assessment 2025, the submission of specified documents through MITRS will commence in stages, beginning with companies (Taxpayer Category ‘C’) and Limited Liability Partnerships (Taxpayer Category ‘PT’).
2. Submission Deadline:
Taxpayers are required to submit the specified documents within 30 days after the due date for submitting their Return Form for the relevant year of assessment.
3. Accessing MITRS:
- Taxpayers can access MITRS via the MyTax Portal at https://mytax.hasil.gov.my.
- Tax agents can access MITRS through the Tax Agent e-Filing System (TAeF) version 2.0, also available on the MyTax Portal.
4. Required Documents:
- Audited Financial Statements or Management Accounts.
- Tax Computation.
- Detailed Schedule of Capital Allowances and claims under Schedule 3 of the ITA 1967.
- Comprehensive calculations for any incentives claimed (if applicable).
5. Document Specifications:
- Documents must be uploaded in PDF format, with each file not exceeding 15 Megabytes (MB).
- Submissions should be in either Malay or English. Documents in other languages must be translated accordingly.
6. Amendments to Submitted Documents:
- If there are changes affecting the calculation of chargeable income after submission, taxpayers are allowed to amend the documents.
- All relevant documents, including those not subject to amendment, must be re-uploaded.
- The submission date will be updated based on the latest upload.
- Late submissions may result in penalties under Section 120(1) of the ITA 1967.
7. Consequences of Non-Compliance:
- Failure to comply with Section 82B is an offence under paragraph 120(1)(d) of the ITA 1967.
- Upon conviction, offenders may face a fine ranging from RM200 to RM20,000, imprisonment for up to six months, or both.
For comprehensive details, including the complete list of specified documents, taxpayers are advised to refer to the Guidance Notes available on the LHDNM website.
To know more, refer here.