G&A Group

G&A Group – An Integrated Solution Provider

[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”solid” padding_top=”0″ padding_bottom=”0″ padding_left=”0″ padding_right=”0″ hundred_percent=”yes” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][imageframe lightbox=”no” lightbox_image=”” style_type=”none” hover_type=”none” bordercolor=”” bordersize=”0px” borderradius=”0″ stylecolor=”” align=”center” link=”” linktarget=”_self” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ hide_on_mobile=”no” class=”” id=””] [/imageframe][/fullwidth][fullwidth background_color=”white” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”solid” padding_top=”20″ padding_bottom=”20″ padding_left=”” padding_right=”” hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

Defer Tax Installment Payment Revise Tax Estimates (CP204)

[/fusion_text][fusion_text]

FAQ for Tax Installment

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

1. Is extension of time given to all types of tax estimate submissions which are due from 18 March 2020 to 14 April 2020?

[/fusion_text][fusion_text]

Extension of time will be given until 30 April 2020.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

2. Who is eligible for deferment of CP204 payment for 6 months beginning April 2020 until September 2020?

[/fusion_text][fusion_text]

Companies related to the tourism industry (including those with SME status)

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

3. It was previously informed that tourism industry related taxpayers had to put in manual application for the deferment of CP204 payment. Is this procedure still applicable?

[/fusion_text][fusion_text]

No. Deferment of CP204 payment will be given automatically based on IRBM’s record.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

4. Who is eligible for deferment of CP204 payment for 3 months beginning April 2020 until June 2020?

[/fusion_text][fusion_text]

All types of businesses with Small and Medium Enterprises (SMEs) status.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

5. What are the business criteria that qualify for SME status?

[/fusion_text][fusion_text]

Business criteria for SME status are as follows:
i. Have a paid-up capital of less than or equal to RM2.5 Million ordinary shares at the beginning of the basis period for a year of assessment; and
ii. Have a gross business income of RM50 Million and below.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

6. Do SMEs need to apply for deferment of CP204 payment?

[/fusion_text][fusion_text]

No. Deferment of CP204 payment will be given automatically to all SMEs based on IRBM’s record.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

7. Can payment for CP500 be deferred?

[/fusion_text][fusion_text]

Yes. Can be deferred starting from April 2020 to June 2020. The months eligible for deferment are March 2020 and May 2020.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

8. Will the taxpayer be allowed to revise CP500?

[/fusion_text][fusion_text]

Yes. The taxpayer are allowed to revise CP500 on or before the 30th of June 2020.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

9. Are all the SMEs entitled for deferment of CP500 payment?

[/fusion_text][fusion_text]

Yes.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

10. Do taxpayers in the SME category need to apply for deferment of CP500 payment from IRBM?

[/fusion_text][fusion_text]

No. Deferment of CP500 payment will be given automatically to eligible taxpayers based on payment records with IRBM.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

11. When should the deferred payments for CP204 / CP500 be settled?

[/fusion_text][fusion_text]

Taxpayers do not need to pay the deferred payments. The balance of tax (if any) have to be settled upon the submission of the income tax return.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

12. Does deferment of CP204 / CP500 payment lead to a tax increase under section 107C (9) / 107B (3) of the ITA 1967?

[/fusion_text][fusion_text]

No. Deferment of CP204 / CP500 payment to the companies / businesses that qualify under this PRE will not be subject to tax increase under 107C (9) / 107B (3) of the ITA 1967.

[/fusion_text][separator style_type=”none” top_margin=”30″ bottom_margin=”30″ sep_color=”” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” class=”” id=””][fusion_text]

Founded in 1999, G&A Group is a well-established integrated professional firm, dedicated to provide an effective solution for business planning, accounts, tax, finance, IT and performance management. We have a group of professional and enthusiastic team that embrace a vision to provide quality and reliable services. We look forward to, build a lasting relationship with you.

Please drop us a message at info@ga.com.my or visit our website at www.ga.com.my for more information or further enquiries.

If you need further assistance, please feel free to contact our G&A Group HQ or branch contact personnel:

Our Hotline Service :
1700818791

Jennifer – 016 583 7739
email : jennifer@ga.com.my
Fanny – 016 811 2349
email : fanny@ga.com.my

[/fusion_text][fusion_text]Disclaimer clause:
The information provided by G & A Group (“we,” “our”or “us”) on www.ga.com.my (the “Site”) [and our mobile application] is for general informational purposes only. All information on the Site [and our mobile application] is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site [or our mobile application].[/fusion_text][/fullwidth]