Capital gains tax return filing programme available on IRB’s official website

KUALA LUMPUR: Taxpayers can refer to the Capital Gains Tax Return Filing (CGTRF) Programme on the Inland Revenue Board’s (IRB) official online portal on filing the CGTRF starting March 1.

In a statement today, the IRB said starting Jan 1, companies, limited liability partnerships, trusts and cooperatives that receive profits or gains from the disposal of capital assets are subject to the Capital Gains Tax (CGT) under the Income Tax Act 1967 (ITA 1967).

This includes shares of an unlisted company incorporated in Malaysia or shares of a controlled company incorporated outside Malaysia that owns immovable property situated in Malaysia or shares of another controlled company or both, according to section 15C of the ITA 1967.

“Labuan entities (Labuan Companies, Labuan Limited Liability Partnerships, Labuan Foundations and Trusts) that choose or are subject to the imposition of tax under the ITA 1967 are also subject to the imposition of CGT.

“Submission of the CGTRF and payment of the CGT have to be done within 60 days of the disposal of the capital assets.

“However, disposals between Jan 1-Feb 29, 2024 are excluded from taxation and are not subject to the CGTRF,” it said in a statement today.

The CGTRF form can be accessed and downloaded at www.hasil.gov.my.

Meanwhile, the IRB said that CGT reporting is mandatory through e-CKM and the use of e-services is mandatory for services provided online through the MyTax Portal service portal from Jan 1, 2024.

“Taxpayers or appointed licensed tax agents can access e-CKM through the MyTax portal at https://mytax.hasil.gov.my,” it said.

For more information, members of the public can contact the IRB by calling the Hasil Contact Centre (HCC) at 03-8911 1000 / 603-8911 1100 (overseas); HASiL Live Chat; and the feedback form at IRB’s official portal, https://maklumbalaspelanggan.hasil.gov.my/Public/. – BK