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Paying Taxes

Improvements in 2007
 
PAYING TAXES
 
1. Improvements by Inland Revenue Board (IRB)
  • Reducing time taken for refunding tax overpaid due to companies and individuals from 1 year to between 14 and 30 days in cases of submissions through e-filing.
  • Refunding tax overpaid for the current year of assessment without reference to the previous years of assessment.
  • Finalising assessment for years prior to 2006 later and dealing with further monies repayable/tax payable separately.
  • Refunding tax overpaid directly to tax payers without the need for formal application.
 
2. Assessment of Stamp Duty for Landed Properties

The number of procedures and the processing time taken in the assessment of stamp duty for landed properties also has been reduced. The process involves IRB and the Valuation and Property Services Department (JPPH).

The average processing time for manual applications ranged from 26 to 86 days and involving 9 manual steps.

Following review by PEMUDAH and the introduction of e-STPH, the process now only takes 10 to 16 days and requires only 5 steps via the on-line application (for IRB only) which is available throughout the country.