Business – Enterprise / Partnership
Any individual who carries on business must register tax file and declare income tax via e-filling of Form B or Form P.
Form B and Form P refers to income assessed under Section 4 (a) – 4 (f) of the ITA 1967 and be completed by individual residents who have business income (sole proprietorship) or partnership.
Partnership is required to file annual income tax return via e-filling of Form P to show all the income earned and business expenses deducted by the partnership during the year although a partnership is not subjected to pay tax.
Form B and Form P submission deadline:
- Manually on or before 30th of June
- Online on or before 15th of July
Tax Rate of Resident Individual
- A resident individual is taxed at a scale rate [refer to IRBM Official Portal – https://www.hasil.gov.my/en/]