All About CP204 Form, CP22 & CP22a

1. All About CP204 Form, CP22 & CP22a

2. Summary Information on Tax Estimate (CP204) • Under the self-assessment system, all companies must determine and submit on a prescribed form (form CP204) an estimate of their taxes due for one year of assessment, 30 days before the start of the base period.

3. The new company must present CP204 within a period of 3 months after starting its activity. • However, when a business starts operating (that is, during the first period), the estimate of the tax to be paid must be submitted to the IRB within 3 months from the date of commencement of its activity and thereafter no later than 30 days before the start of the base period.

4. The tax estimate for the following year cannot be less than 85% of the previous one. • With effect from fiscal year 2006, the estimate of the tax payable presented for a particular year cannot be less than 85% of the revised estimate of the tax payable for the immediately preceding assessment year, or if a Revised estimate cannot be less than 85% of the estimate of taxes to be paid for the immediately preceding appraisal year.

5. A company is still required to file CP204 form within the stipulated time, even if it expects its estimate of the tax to be paid to be NULL. • SMEs do not need to submit CP204 within the first 2 years of evaluation • With effect from the year 2008, when an SME begins to operate for the first time in an appraisal year, the SME is not obliged to provide an estimate of taxes payable or to make installment payments for a period of 2 years from of the year of appraisal in which the SME begins operations.

6. Effective YA2011, when a business begins operating for the first time in an appraisal year and the base period for that appraisal year is less than 6 months, that business is not required to provide an estimate of the taxes to be paid. or make installment payments for that year. evaluation. • SMEs can still be sanctioned if they do not file a CP204, even if it is not mandatory • An SME that is exempt from providing an estimate of the tax payable mentioned above is recommended to file CP204 notifying the IRB of its SME status without having to indicate the amount of the estimate of the tax to be paid for that particular assessment year. to avoid any penalty for infringement. IRB wrongly imposed the tax estimate or penalty for non-filing.

7. Form CP22 • Form CP22 is a government report issued by the LHDN. CP22 is a New Employee Notification form. An employer must notify the nearest IRB branch within one month of the new hire's start date. If the employer does not do so, he can be prosecuted and subject to a fine of RM 200.00 minimum but not more than RM2,000 or imprisonment for a maximum of 6 months.

8. Form CP22A • Unlike the CP22 form, CP22A is a termination of employment form. The employer is responsible for notifying IRBM that their employee is about to retire, leave Malaysia permanently, or that the employee is subject to the MTD scheme and the employer has not made any deductions. Employers have 30 days prior to the employee's termination date to notify IRBM. The employer must withhold money payable to the employee until he receives a letter of authorization from the appraisal branch.

9. About Us • QNE Software SdnBhd (QNE) is a dynamic organization located in Kuala Lumpur (KL) that actively provides Accounting System to the South East Asia market. QNE’s solutions are designed specifically to meet the requirement of local business practices and challenging environments. Since QNE (formally known as OneStop Software Solutions (M) SdnBhd) was formed on 15 August 2001 under the Companies Act 1965, QNE’s is known for its strong commitment to research and development. As a result, QNE was awarded the MSC Pioneer Status in April 2005. • Website - https://www.qne.com.my/