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Corporate Tax

Introduction

Corporate tax is charged on resident companies (private limited/Sendirian Berhad and public limited/Berhad) that receive income:

  • In Malaysia; and
  • From outside Malaysia, in the case of insurance, sea/air transport, and banking businesses
Company's Responsibilities
Tax Item / Estimate New Company Existing Company Form
Delivery Within the first 3 months from the date of commencement of operations 30 days before the start of the basic period CP204
Payment Start 6th month of basic period 2nd month of basic period CP207
Payment Date Before / on the 15th of the month CP207
Budget Amendment 6th or 9th or 11th month of the basic period or within all three months e-CP204A
Accounting Period Change Notification New accounting period less than 12 months
- 30 days before the end of the new accounting period

New accounting period exceeding 12 months
- 30 days before the end date of the original accounting period 		CP204B
Form Submission 7 months after the closing date of the accounting period e-C
Date of payment of tax balance (if any) Before / on the last day of submission of Form eC
(7 months after the closing date of the accounting period)		 CP207

Person in responsibility:

  • Company Directors
  • Company secretary
  • General Manager or key officer
  • Anyone who performs any of the above functions

Failure of the company to carry out its responsibilities will result in the company being convicted of:

  • Criminal Offenses
    • Failure to submit and report income within the prescribed period and failure to report the proper income (false claims) within Income Tax Return Form
  • Civil Offenses
    • Failure to pay income tax within the prescribed period

 

Type Of Assessment Estimated Year (Y/Y)
2009-2015 2016 2017 – 2018 2019 2020-2022 2023-2024
Paid-up capital of up to RM2.5 million at the beginning of the basis period and gross income not exceeding RM50 million
First RM500,000 of taxable income 20% 19% 18% 17%
Remaining taxable income 25% 24% 24% 24%
First RM600,000 of taxable income 17%
Remaining taxable income 24%
The first RM150,000 of taxable income 15%
Taxable income RM150,001 to RM600,000 17%
Taxable income RM600,001 and above 24%
Paid-up capital exceeding RM2.5 million at the beginning of the basis period/Companies other than the above categories
Paid-up capital exceeding RM2.5 million at the beginning of the basis period/Companies other than the above categories 25% 24% 24% 24% 24% 24%

The information that needs to be updated if there are changes is:

  • Correspondence address/business registered address
  • Contact number
  • Change of company name
  • Change of tax agent (if applicable)

Attention

  • Registration for a company's income tax number can be doneonline) using the e-Daftar application at the link https://mytax.hasil.gov.my
  • Refer to account statements, supporting documents, income statements and claim receipts when filling out.
  • Business accounts and supporting documents do not need to be submitted when submitting the forms.
  • Make sure business code being filled in correctly in the Income Tax Return Form (BNCP). Business code guidance can be obtained at https://www.hasil.gov.my.
  • Keep records and account books for 7 years for the purpose of reviewing HASiL.
  • The INTCP must be submitted even if the account suffers a loss.
  • Dormant companies do not need to submit e-CP204, but must submit Form eC annually.
  • The procedure for amending tax form C can be referred to Operational Guidelines 3 of 2024: Procedure for Submission of Amended Return Forms.