PETALING JAYA: The Inland Revenue Board (IRB) will pay those who overpaid their income tax 2% for late refunds. However, compensation may be denied if IRB has a strong reason for the delay such as difficulty in processing tax returns because they are incomplete or unsupported.
“The compensation is to be fair to taxpayers and enhance efficiency in tax administration,” said IRB chief executive officer Tan Sri Dr Shukor Mahfar.
“Those who file their income tax returns before the deadline are eligible for the compensation,” he said.
The due date for salaried individuals to file tax returns is April 30 while the deadline for business income earners is June 30.