Everything You Need to Know About Form8A

As 2020 draws to a close, now is the time to start preparing for filing year-end payroll activities: Form E - Employer's Year-End Tax Report, 8a form (EA) - Declaration of Employee's year-end taxes and PCB II - Employer's Pay Status Tax.

In most organizations, many of the benefits in kind are paid out of payroll. At the end of the year, this information should be obtained from Finance and included in your payroll system for consolidation in the preparation of your tax form.

Form E: employer's year-end tax must be submitted to the Internal Revenue Department before March 31, 2021, through the portal of the tax authority.

The deadline to submit Form borang 8a (EA) - Employee Year-End Tax Return is April 30, 2021.

Year-end payroll activities in Malaysia

-Here is a list of tasks to complete before December:

-Register the elements of Benefits in kind for the year 2020 for sosco 8a. This information will be included in Part B3, F of the EA form. If necessary, a breakdown of the BIK elements in the Note F form would be beneficial.

-Run the annual summary payroll report (with a monthly breakdown) if clarification is required on the details of income or benefits in kind reported on the tax form.

--Register tax receipts in the system. Tax receipts are reports on form PCB II.

Track Human Resources Support Package (HRSP) activities (if there are changes to legal forms, contributions, etc.) SAP SuccessFactors Employee Central Payroll (ECP) customers must test and implement SAP HRSP (business packages medium).

-Test payroll calculations and posting.

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