What if I am unable to pay the tax due

Related Topics: | Tax Advice | Tax Administration |

What if I an unable to pay the tax that is due?

If the tax is a service tax, sales tax, custom duty, excise duty, stamp duty or license/permit, you are already paying at the point of sales or consumption.

Other taxes, especially income tax, can be paid by instalments. However, if you are unable to pay for it, you may be required to provide financial information about all the property that you own and establish that you are truly unable to pay the tax. If the IRB agrees, you can get a payment schedule, ie,- the tax is paid over a period of time.

In some extreme case, like after a tax investigation where the tax payer is required to pay a lump sum additional tax and penalty, the IRB may offer a compromise by allowing you to pay by easy instalment. In such circumstances, the taxpayer is usually required to give up the right to challenge or appeal the imposition of the tax and agrees with the IRB on the instalment plan.

I want help FreeAdvice

Please contact Alvin For Advertising & Sponsorship Information

FINMART FreeAdvice® is the leading business advisory site for business people doing business in Malaysia. It provides advice relating to most common business problems and to help business people to understand the way how business should be properly conducted, but is not a substitute for personal business advice from the respective professional and experts. You are welcome to view FINMART FreeAdvice® for your own personal, non-commercial purposes, and subject to our legal disclaimer and conditions of use.