What is CP204? | CP204 vs CP204A | SQL Payroll

What is CP204 & CP204A?

CP204 is a form for submission of estimated tax payable. Trust bodies, cooperative and Limited Liability Partners (LLP) are required to submit the CP204 form via e-Filing starting from year 2019.

The adjustment form for CP204 is called the CP204A form. This form is used to amend or revise the amount of the estimated tax payable declared in CP204.

What is CP204 and CP204A?

CP204 is a form for submission of estimated tax payable. Trust bodies, cooperative and Limited Liability Partners (LLP) are required to submit the CP204 form via e-Filing starting from year 2019.

The adjustment form for CP204 is called the CP204A form. This form is used to amend or revise the amount of the estimated tax payable declared in CP204.

Who should submit CP204 Payment?

Every company is required to determine and submit in a prescribed form (Form CP204) an estimate of its tax payable for a year of assessment, 30 days before the beginning of the basis period.

When should I submit of CP204?

Submission of CP204 must be 30 days before the start of the basis period for the year of assessment. For example, if a company ‘s basis period is from 01.01.2021 – 31.12.2021, the submission of the CP204 will be on November 2020.

But for newly incorporated companies, the submission period is within 3 months after the commencement of business.

How to determine the amount of tax estimate?

The minimum amount of tax estimate shall not be less than 85% of the amount of the tax estimate amount/ amended tax estimate amount for the previous year of assessment.

Companies, trust bodies, cooperative and LLPs can determine the tax payable by assessing the company’s estimated profit.

How to Do Revision For CP204?

The company need to submit Form CP204A for the amendment the tax estimate amount. The period of tax estimate amendment is on the 6th or 9th month of the basis period for a year of assessment.

How is the amended instalment amount determined?

The balance of the tax instalment payable, is determined using these methods:

  • If the amendment amount exceeds the amount of instalments that have to be paid, the balance must be paid in instalments according to the remaining number of instalment available.
  • If the amended amount is less than the amount of instalment that should have been paid, then the termination of instalment payment for the following months can be done.

What happens for non-submission / late payment of CP204 / underestimation of tax estimate?

  • Tax payer who fails to submit CP204 will be penalized with a fine of RM 200 – RM 2000 or face imprisonment for a term no longer than 6 months, or both.
  • Tax payers who are late in making the payment for CP204 will be penalized by having a 10% penalty imposed on their balance of unpaid tax.
  • If the tax payable exceeded the estimation by 30%, the difference of the estimation will be charged with a 10% penalty.

How to pay CP204?

  • Online FPX Service

    The e-payment portal at IRBM website enables taxpayer to pay income tax through FPX gateway. User need to register for internet banking service with any commercial banks listed as FPX associate.

    Payment can be made online at IRBM website by clicking ‘Perkhidmatan ezHasil’ > ‘ByrHASiL

  • Credit Card / Debit Card

    Taxpayer can pay Income online using credit or debit card at ByrHasil portal. All VISA, Mastercard, American Express credit cards and debit cards issued in Malaysia can be used for tax payment.

    The type of tax payments that can be paid using credit and debit cards at IRBM Payment Counters and the payment codes are as listed here.

  • Payment by Post / Courier

    Effective from 1st January 2021, IRBM no longer accept income tax payments using cheque sent by post or courier. The shift in policy intend to increase the usage of e-payment method provided by the IRBM and to eliminate bounced or dishonoured cheque.

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