The Inland Revenue Board of Malaysia (IRB) has recently issued a Media Release on “Reasons Why Tax Refunds Fail To Be Processed”.
According to the media release, failure in updating personal information and bank account details results in the failure to complete the tax refund process. Based on the IRB’s 2018 records, 6.22% or about RM486.29 million in refund failed to be paid due to failure in updating personal information and bank account details.
Therefore, taxpayers are advised to update their latest personal and banking information in the annual Income Tax Return Form (“ITRF”). Besides, taxpayers can also update their personal and banking information via e-Kemaskini system or Feedback Form which can be accessed online through the IRB’s website. Information needed for tax refund process include personal identification number, bank account number, correspondence address, telephone number, e-mail address and company registration number (for taxpayers in the company / organisation category).
Starting 1 January 2020, income tax refunds will be fully made using the electronic method of e-payment. The IRB will also increase the use of online tax refund payment transactions via the Electronic Fund Transfer (“EFT”) method.
For further inquiries kindly:
- Visit the website http://www.hasil.gov.my/#
- Contact Hasil Care Line LHDNM at 1-800-88-5436 or 603-77136666 (Overseas).