LHDN Postpones CP204 and CP500 Payments for MSMEs

The Postponement of Estimated Tax Payable (CP204) and Instalment Payment Scheme (CP500) will be provided automatically to eligible taxpayers with the status of small micro and medium enterprises (MSME) from 1 Jan until 30 June 2022.

In a statement today, the Inland Revenue Board (LHDN) announced that taxpayers' eligibility was based on records or the latest Income Tax Statement Form obtained by the board.

As a measure to strengthen recovery, build resilience and drive reform, the Minister of Finance, through the 2022 Budget, announced the following initiatives:

Deferment of CP204 for the Year of Assessment 2021 and 2022

All industries are eligible to apply for CP204 deferment on the 11th month of  the basis period for the Year of Assessment 2021 and 2022. 

Applicants can download the submission form via HASiL's official portal here. Once the applicant has filled the form, they must send it via email to [email protected].

Applicants can download the submission form via HASiL's official portal here. Once the applicant has filled the form, they must send it via email to [email protected].

The last date for submission of this postponement is on the final day of the 11th month of the basis period of the Year of Assessment 2021 and 2022. For the 11th month of the basis period that falls on October, November, or December 2022, the final date to submit the deferment application is before 31 October 2022.

Postponement of CP204 and CP500 payment from 1 January until 30 June 2022

For the CP204 payment, business criteria that are eligible for the MSME status were companies, limited liability partnerships, trust bodies, and co-operatives with a paid-up capital of less than RM2.5 million for ordinary shares at the beginning of the basic period for an assessment year.

Additionally, the entity must earn a gross business income of RM50 million and below for an assessment year.

According to the board, the announcement on the postponement of CP204 payment to the taxpayer who meets the criteria will be sent through emails that are registered with HASiL (LHDN).

Meanwhile, LHDN informed that the deferment of the CP500 payment was granted automatically to all eligible taxpayers for the 2021 assessment year payment (payable date of 1 Jan, 2022) and the 2022 assessment year payment (payable date of 1 March, 2022 and 1 May, 2022).

You can read LHDN's announcement on the postponement here.

You can also check out the frequently asked questions (FAQ) on the postponements through this link here. If you have any questions, please call Hasil Recovery Call Centre (HRCC) at 03-87511000 for more information. 

Source: BERNAMA

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