Tax estimation LHDN 2022

Budget 2022 proposes some measures to allow businesses to amend their estimated income tax payable. The proposal is to allow all businesses to revise the estimated income tax payable in the 11th month before 31 October 2022.

01Key summary

a. The application process for the 11th month revision of tax estimate before 31 October 2022 is similar to those implemented previously where it can be submitted online (including email) and is deemed approved upon submission (i.e.automatically approved).

b. The application form(CP204A)can be submitted via email to

pindaancp204bajet2022@hasil.gov.my.

c. Companies can make payment based on their 11th month revision of tax estimate figure after submitting the completed application form. The LHDNM will issue a revised instalment payment schedule(CP205)to the company as notification.

d. The estimate of tax payable for the year of assessment 2022 shall not be less than 85% of the tax estimate or the revised tax estimate in accordance with S.107C(3) and S.107C(7)of the Income Tax Act 1967 (ie.85%based on the 6t month or the 9t month revision and not the 11th month revision).

KTP takeaways on tax estimation 2022

It offers businesses some flexibility in managing their tax estimates and cash flow.

As many companies in Malaysia adopt a December financial year end, the cut-off on 31 October 2022 would mean that companies closing their financial year on 31 December 2022 will not be able to benefit from this amendment.

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