Expansion of the premium lifestyle exemption program, with individual tax deductions exceeding RM30,000

In this interview, Long Yen Ping, Head of Global Mobility Services at KPMG in Malaysia, provided her perspectives on the expanded 2024 personal income tax exemptions, which offer up to RM31,000 in deductions for expenses such as language classes, dental visits, sports rentals, parents’ medical exams, skills improvement, and EV equipment purchases. She highlighted the risk of fines for late declarations, with deadlines on April 30 (e-Form BE) and June 30 (e-Form B), plus a 15-day grace period for electronic submissions. Long emphasized that accurate record-keeping and understanding eligibility for deductions are key to maximizing savings and avoiding penalties.

Read the full story in the attachment below, and in Guang Ming Daily.

For media-related queries, please email marcom@kpmg.com.my