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All You Need to Know About EA Form

Form EA is an Annual Compensation Statement for Private Employees that includes your salary from the previous year. The EA form is used for filing personal taxes during tax season.<br>

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All You Need to Know About EA Form

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  1. All You Need to Know About EA Form

  2. Form EA is an Annual Compensation Statement for Private Employees that includes your salary from the previous year. The EA form is used for filing personal taxes during tax season.

  3. Why do we need the EA form? • We need EA forms to make sure we report the correct amount of earnings and exemptions in our submission. • The EA form can also be used to check if we are above the payment level that requires us to pay taxes.

  4. EA Form Explained • If you have a job or have worked before, you should have found this little piece of paper called the EA form. Every time tax season rolls around, you'll see everyone scrambling around the office for HR teams trying to get their own. • For all of you who have no idea what EA forms are, let us break them down for you.

  5. According to the Internal Revenue Board of Malaysia, an EA Form is an Annual Compensation Statement that includes your salary from last year. Typically, you will use this form to file personal taxes during tax season. • The reason you need this is to make sure that if you are above the salary rating that requires you to pay taxes, the form guarantees that you are aware of this and this is the form that you use when you go online and perform your electronic filing. • Taken directly from the LHDN website, it is quoted that referring to Section 83 (1A) of the Income Tax Act of 1967, “every employer shall, for each year, prepare and present to its employee a statement of compensation of that employee on or before the last day of February of the year immediately following the first mentioned year”.

  6. If you are an employer, a finance executive or a member of the Human Resources team, it will be your responsibility to ensure that the rest of your teammates get their forms by the month of February of each year. This is your responsibility in the eyes of the law. • With the addition of the new Malaysia Trade Reporting System in early 2018, you will now have to report using this new software created by SSM. All financial reports at the end of the year, including EA Form Malaysia, will need to be submitted to this new software. Soon it will be mandatory for everyone to use the SAM software. • Since it is new software and we all know how long it will take to master new software, SSM has launched a project that allows workshops to teach and help companies learn to use the new reporting system.

  7. 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/

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