Pay Your Tax on Time and Accurately
What will happen if our tax payment is not on time, inaccurate or maybe we did not pay the tax? Will it affect our daily life routine?
As all of us noticed, without the aid of technology, the result of IRB tracking for those who didn’t pay their tax was not significant previously. Thus, lots of tax payer often pays their tax late or even not paying their tax. However, in this one year’s time, the situation has changed. The tracking progress of unpaid tax was improved. Reporting of unpaid tax get caught and tax payer was arrested and fined increased on the press media. Plus, directors were being arrested, fined and barred from travelling overseas due to paying their company’s tax late or even not paying tax at all also being reported more than before.
IRB is getting serious in tax payment issue, they are not just checking only, but also enhanced the action of tracking down the tax payer. There were about 120 thousand tax payers were barred from travelling overseas according to a report on end of May. Yet, the number has increased tremendously in just few months’ time. There were more than 130 thousand individuals were being blacklisted and barred from travelling overseas.
In order to encourage tax payer to self-report of their unpaid tax amount, IRB is offering a 15%-20% discount rate of penalties until 15 December. Therefore, tax payer should pay your tax on time and accurately to avoid such complication take place.
Whenever the tax season rolls around, there will be a sense of worry and anxiety among the public because there are many financial, technical and even legal considerations to be taken into account when filing in at Lembaga Hasil Dalam Negeri (LDHN or Hasil).
There is an attractive alternative to handle your taxation matter which is to engage with experienced and qualified tax agent. This would allow you to deal with tax matter in a more cost-effective way. With the professional advice and better suggestion provided by the qualified tax agent, one would be able to pay your tax on time and accurately.
As we understand the importance of providing good quality tax advisory services to our customers, at 3E Accounting, we have the best from big four accounting firms, Mr. Lois Tang on board! As a leading services provider, rest assured that we will be your best support. For more information about our taxation service, please feel free to contact us at [email protected].
