Q:
May I know what is Tax Identification Number (TIN)? How to obtain?
A:
The Inland Revenue Board of Malaysia (IRBM) assigns a unique number to persons registered with the Board. This unique number which is the TIN is known as “Nombor Cukai Pendapatan” or Income Tax Number. This number is issued to persons who are required to report their income for assessment to the Director General of Inland Revenue.
Individuals are not automatically issued with TIN. TIN is only issued either on request, on registration exercise by the tax authority or on employment when their employer request for their registration.
Q:
If I have never filed a tax return before and I want to file tax now, do I need to file for previous years?
A:
If your income exceeds the prescribed tax threshold in previous years, then you need to file tax return starting from the year that you are supposed to register a tax file.
An individual has to register a tax file if his annual income (after EPF deduction) is at least:
• RM26,501 (with effective from Year 2010)
• RM30,667 (with effective from Year 2013)
• RM34,000 (with effective from Year 2015)
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!
P.P.S. Do you want more tax saving tips? Because this is just the tip of the iceberg. View my course here: bit.ly/youaskzenlah