2009 SCHEDULE OF MONTHLY TAX DEDUCTIONS (STD)

Effective 1.1.2009 salary payment, a new monthly tax deduction rate is applicable.

The new schedule takes into account the change in the individual tax rate as announced in Budget 2009 and is applicable to 2009 remunerations.

Tax deductions made for previous years’ remunerations of employees paid in 2009 must be based on the old schedule (2004).

Please Note that tax deductions made for bonus and director’s fees of previous years but paid in 2009 must be based on the new schedule.

Copy of the old and new PCB schedule can be download from the USEFUL LINK section.

FORM E 2008

FORM CP8D

(i) Extension of Time to File Form CP 8D

Employers having problem in submitting Form CP 8D on or before 31 March 2009 are given extension of time till 31 May 2009 to submit the said Form. However, employers are reminded that they still have to submit Form E by 31 March 2009.

EA FORM (FORM CP8A)

(i) Scope of Part G

The IRB has informed that the amount to be reported in Part G of the EA Form (Form CP 8A) includes allowances/perquisites/gifts/benefits which are already accorded exemption prior to the announcement of Budget 2009. Please refer to the Notes to Part G of Form EA attached to the 2008 Form E or to Part F at page 3 of the Explanatory Notes to the 2008 Form E.

(ii) Concession on Compliance

Members are informed that employers having problems complying with the new Form EA format (Form EA – Rev 2008) may file the Form EA using the old format (Form EA – Rev 2005). This effectively removes the need to disclose Part G of the EA Form. However, members are reminded that this concession is granted for filing of the form relating to income for the year 2008 only.