Updated Frequently Asked Questions on the Special Revision of Estimated Tax Payable in the 11th Month Basis Period Updated Frequently Asked Questions on the Special Revision of Estimated Tax Payable in the 11th Month Basis Period Updated Frequently Asked Questions on the Special Revision of Estimated Tax Payable in the 11th Month Basis Period

Subsequent to the 2022 Budget proposals, the Malaysian Inland Revenue Board (“MIRB”) has, on 25 November 2021, issued its FAQs in respect of the special revision of ETP in the 11^th month basis period for all businesses before 31 October 2022.

The FAQs have been updated on 25 January 2022 to clarify that the special revision for December year end businesses is only allowed for year of assessment (“YA”) 2021 and not YA 2022.  As such, the last opportunity for a December year end business to revise its ETP for YA 2022 and subsequent YAs, is in the 9th month of the basis period.

The MIRB’s updated FAQs, which are only available in the Malay Language, can be accessed via the above link.

Should you have any questions or require further clarification, please do not hesitate to email or contact any of our Executive Directors, Directors, Associate Directors or Managers whom you are accustomed to dealing with or who are responsible for the tax affairs of your organization.