Tax Highlight – January 2017 [New CP8D & E-Data Praisi]
[MANDARIN VERSION AVAILABLE]
In accordance to the Income Tax Act 1967, every employer must prepare and render the Return Form of Employer (Form E) to the IRB by 31 March of every year.
The Form E is 2 pages’ declaration together with a Form C.P.8D. Recently, C.P.8D has amended to include 10 more columns of information and it is no longer applicable only to employees’ gross salary up to RM34,000 / monthly salary of RM2,800.
This has extended the coverage of the Form to include all ranges of salaries and it can be massive for labor intensive industries. However, there is a way which may simply the process, which is through e-Praisi.
In this highlight, we explore what are the changes to C.P.8D, its effective date and what is e-Praisi. Through its sample details and format provided by IRB, we ascertain whether it is a good option to go for.
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