Year 2002 Programme For

April 5, 2002TEC/008/04/2002

YEAR 2002 PROGRAMME FOR

SUBMISSION OF RETURN FORMS

1.The Inland Revenue Board (IRB) has issued the draft programme for submission of return forms for 2002. Although the filing programme may be modified as a result of the dialogue between the IRB and the various professional bodies to be held shortly, members are advised to pay attention to the following deadlines and procedures for filing of return forms and application for extension of time for filing, which are set out in the draft filing programme.

2.FILING PROGRAMME FOR YEAR 2002

COMPANY CASES (YA 2001/2002 – SELF ASSESSMENT SYSTEM)

2.1Issue of Income Tax Forms for Companies (Borang C)

2.2Income tax forms (Borang C) for companies are issued in stages, as follows:

Year of Assessment 2001

Date of Issue / Accounting Period Ended
i. / 1 April 2001 / 31/01/01, 28/02/01 and 31/03/01
ii. / 1 July 2001 / 30/04/01, 31/05/01 and 30/06/01
iii. / 1 October 2001 / 31/07/01, 31/08/01 and 30/09/01
iv. / 1 January 2002 / 31/10/01, 30/11/01 and 31/12/01

Year of Assessment 2002

Date of Issue / Accounting Period Ending
i. / 1 April 2002 / 31/01/02, 28/02/02 and 31/03/02
ii. / 1 July 2002 / 30/04/02, 31/05/02 and 30/06/02
iii. / 1 October 2002 / 31/07/02, 31/08/02 and 30/09/02
iv. / 1 January 2003 / 31/10/02, 30/11/02 and 31/12/02

2.1.2For YA 2001, Borang C is required to be filed within 8 months and for YA 2002, Borang C is required to be filed within 6 months following the close of the accounting period. No extension of time beyond the said periods will be allowed.

2.2Issue of Borang R for Companies

2.2Commencing YA 2002, Borang R, i.e. section 108 statement will be issued together with Borang C in stages, as follows:

2.2.2Borang R is a statement showing the credit of the section 108 account (compared aggregate), the amount of tax deducted from the dividend paid, credited or distributed in the basis period for a year of assessment, as well as other requisite information which must be submitted by the taxpayer.

2.2.3For YA 2002, Borang R is required to be submitted within 6 months following the close of the accounting period. No extension of time beyond the said period will be allowed. However, taxpayers may submit Borang R separately from Borang C.

2.2.4For YA 2001, Borang R is required to be submitted within 8 months following the close of accounting period.

2.3Income tax forms or Borang R which are submitted after the period allowed will be deemed as late submission and an appropriate penalty will be imposed.

3.FILING PROGRAMME FOR YEAR 2002

NON COMPANY CASES (YA 2001 – CURRENT YEAR BASIS)

3.1Submission of Return Form 2001 – Current Year Basis

All return forms (Borang Nyata 2001 STTS) are required to be submitted on or before May 31, 2002 except where approval for extension of time to file Borang Nyata 2001 STTS has been obtained.

3.2Extension of Time for Filing Return Forms

3.2.1Applications for extension of time to file Borang Nyata 2001 STTS after May 31, 2002 must be submitted on or before April 15, 2002.

2.2No extension of time beyond May 31, 2002 will be allowed for the following cases:

a.Partnership (D) cases

b.Salary (SG) cases

c.All cases [including individuals with business/non-employment income (OG), clubs and trade associations (F), co-operatives (CS), trusts (T) and Hindu joint families (J)] where the accounting year ended on or before 30 September 30, 2001.

3.2.3Except for the cases mentioned above, extension of time will be allowed up to July 31, 2002.

3.2.4The following conditions must be complied with in applying for extension of time beyond May 31, 2002:

(a)The programme for submission of return forms should be such that 50% of the returns will be submitted by end of June 2002 and extension of time up to July 31, 2002 would be considered for the balance of the cases.

(b)A list of cases for which extension of time is applied and the dates of filing is to be submitted for approval. The cases included:

must have accounting years ending after September 30, 2002;
are under the instalment payment scheme (section 107B) under the current year basis of assessment (STTS) or is a repayment/loss case.

(c)Separate lists, in numerical order of the tax file numbers, should be prepared for each category of cases (OG, T, F, J and CS). The lists should be submitted in duplicate to the respectiveIRB branches.

3.2.5No extension of time beyond May 31, 2002 will be granted to taxpayers who are not under the instalment payment scheme (section 107B) under the STTS or where tax has not been deducted under section 107A.

3.2.6Return forms to be file within the extended time must comply with the following requirements:

(a)The return form must be complete and supported by audited / certified financial statements, tax computation and all the required details as stipulated in the return form.

(b)There must be an indication on the front page of the return form (above the taxpayer’s address column) that extension of time is allowed, as follows:

“Lanjutan masa dibenarkan sehingga ………”

4.SUBMISSION OF FORM E

Extension of time to file Form E (CP8 – Return of Remuneration by Employer) will be allowed until April 30, 2002.

5.DIALOGUE WITH IRB

A dialogue between the Operations Division of the IRB and the various professional bodies, including MICPA, is expected to be held in mid April to discuss the 2002 programme for submission of return forms and related tax issues.

A copy of the filing programme and the outcome of the dialogue with the IRB will be sent to members in due course.

6.MINUTES OF DIALOGUES WITH

IRB HELD IN NOVEMBER 2001

Members are informed that the minutes of the dialogues with the Technical Division and Operations Division of the IRB held in November 2001, which were sent to members via Circular No. TEC/005/03/2002, were confirmed minutes and not draft minutes as indicated in the heading.

The Secretariat apologizes for the inadvertent typographical error.

TAN SHOOK KHENG (Ms)

Secretary

Tech.2002.Cir.008