• for an individual with business, rental or royalty income, the IRB will provide the estimate of tax payable and Form CP 500 will be issued...

• Tax payer is required to pay the estimated tax payable in 6 bimonthly instalments commencing from the month of March in the current year...

• Tax payer may make an application to the IRB to revise the instalments payments not later than 30 June...

• The tax return must be submitted via Form B or BE and the deadline for submission is as follows:

1. by 30th April of the following year - for an individual without business income
2. by 30th June of the following year - for an individual carrying on a business

• Failure to submit a return would constitute an offense and if convicted, the individual tax payer will be liable to:

1. fine between RM200 - RM2000, or
   
2. imprisonment for not more than 6 months, or
3. both
   

Labels: the accounting stuff