Form R 2012 Explanatory Notes - Lembaga Hasil Dalam Negeri

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Form R 2012 Explanatory NotesSelf Assessment SystemBASIC PARTICULARS OF COMPANYItem Subject ExplanationabcdName of companyReference no.(registration no.)Basis periodIncome tax no.Name of company as registered with the Companies Commission of Malaysia. Forchange in company’s name, indicate the former name in parenthesis.Number as registered with the Companies Commission of Malaysia.Enter the date of the first and last day of the company’s basis period for Year ofAssessment (Y/A) 2012 in the boxes provided.Example:ORExample:If the company’s basis period for Y/A 2011 is from 01.10.2011 to30.09.2012, enter the date as follows:-FromIf the company’s basis period for Y/A 2012 is from 01.01.2012 to31.12.2012, enter the date as follows:From0 1 1 0>>>>>?2 0 1 1Day Month Year0 1 0 1>>>>>?2 0 1 2Income tax file reference number of company.ToTo3 0 0 9>>>>>?2 0 1 2Day Month Year3 1 1 2>>>>>?2 0 1 2Day Month Year Day Month YearPART A:STATEMENT OF REVISED 108 BALANCEItem Subject ExplanationA11 = Revised 108 Amount from Item A7 (code ‘1’) in Part A of Form R 2011.balancebroughtExample 1:forwardA company has a revised 108 balance of RM3,218,648.32 [ amount from Item A7 (code‘1’) in Part A of Form R 2011 ] which has not yet been disregarded.Enter as follows in the boxes provided:-! 1 >_>>_>>_>?, 3 , 2 1 8 , 6 4 8 .3 2(Indicate ‘1’ or ‘2’ whichever is applicable)2 = Revised 108balancedisregardedAmount from Item A7 (code ‘2’) in Part A of Form R 2011.Companies which have furnished Form R50 to disregard their 108 balance / revised 108balance are still required to complete and furnish Form R.Note: Once disregarded, the amount cannot be used to offset the tax deducted ordeemed deducted from dividends (Item A6). However, the amount disregardedcan be adjusted with the amount in Item A5 (if any).Example 2:A company’s basis period ends on 30th June for each year of assessment.The company exercised the option to disregard its revised 108 balance of RM40,658.87[ amount from Item A7 (code ‘2’) in Part A of Form R 2011 ]; and has furnished FormR50 to LHDNM on 15th July 2011.3
Form R 2012 Explanatory NotesSelf Assessment SystemItem Subject ExplanationEnter as follows in Item A1:-!(Indicate ‘1’ or ‘2’ whichever is applicable)Date disregarded:>_>>_>>_>?, , , .2 4 0 6 5 8 8 71 5 0 7>>>>>?2 0 1 1Day Month YearA2A2aTax refunded for Year of Assessment 2001 and subsequent years of assessment during the basis period forYear of Assessment 2012This is the amount of tax refunded to the company due to:-(a) section 107C instalments paid which exceeds the actual tax payable by the company;(b) reduced assessment issued in respect of tax charged already paid by the company; and / or(c) remission of tax already paid. The amount of tax refund for taking into account is restricted to the amount of tax and section 107Cinstalments paid for the relevant assessment which have been allowed in the computation of 108 balance.This amount does not include repayment of tax credit under section 51 of the Finance Act 2007 (Act 683) andsection 110 (others) of the Income Tax Act 1967 which exceed the tax charged for a year of assessment.Penalty and payment of penalty are not taken into account in the computation of 108 balance.Notwithstanding the provisions of section 46 of the Finance Act 2007 (Act 683), any amount of tax refundedin respect of tax discharged for the year of assessment preceding the year of assessment 2010 as aconsequence of any deduction allowed in accordance with section 44B of ITA 1967 (carried back loss), shallnot reduce the 108 balance or revised 108 balance of a company under section 46 of the Finance Act 2007(Act 683).Tax refundedfor prior yearsof assessmentEnter the amount of tax refunded in the basis period for Y/A 2012 in respect of Y/A 2001and subsequent years of assessment because the total section 107C instalments paidexceeds the actual tax for the relevant year of assessment.The amount of tax refunded which can be entered in this Item is restricted to the amountof tax paid for the relevant year of assessment allowed in the computation of 108balance; and has no connection with the tax discharged as a consequence of anydeduction allowed in accordance with section 44B of ITA 1967.Example 3:Syarikat Amer Sdn. Bhd. closes its accounts on 31st May.The company has paid section 107C instalments for Y/A 2008 at RM15,000 per monthfrom July 2007 to June 2008 amounting to RM180,000. The December 2007 instalmentwas paid after 31st December 2007. Hence, only instalments paid from July 2007 untilNovember 2007 amounting to RM75,000 were allowed in the computation of 108balance.The company furnished its Form C for Y/A 2008 on 17th October 2011 * and the actualtax payable was RM70,000.RMTotal instalments paid from July 2007 to November 2007 75,000Less: Actual tax 70,000Tax refunded 5,000Although the amount of tax paid in excess is RM (180,000 – 70,000) = RM110,000 (amountfrom Item B4 of Form C for Y/A 2008), the amount for entry in this Item is RM5,000 only.This amount was refunded on 16th December 2011 i.e. during the basis period for Y/A 2012(01.06.2011 - 31.05.2012).* Penalty for late submission of return form is not taken into account in the computation of108 balance.4
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Form R 2012 Explanatory Notes - Lembaga Hasil Dalam Negeri

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