#8 Income Tax Filing for Form B of YA 2019 [English] [For Serious Bosses]

Disclaimer: this should not serve as your ultimate guideline in filling up your Form B of YA 2019. Please also refer to LHDN's official website and their explanatory note 2019 for more information.

This is to share some differences on Form B of Year of Assessment ("YA") 2019 as compared to YA 2018. The differences are below:-

1. Entitled to claim incentive under section 127
2. Has financial account(s) at financial institution(s) outside Malaysia
3. Number of employment
4. Net deposit in Skim Simpanan Pendidikan Nasional
5. Life insurance and EPF
6. Departure levy for umrah travel/ religious travel for other religions ... Number of trips
Refer to our previous post for more information on the differences above.

7. Number of businesses
8. Number of partnerships
You are asked to fill up how many business(es) and/or partnership(s) that you have during the YA. Below are a few examples:
Source: LHDN's explanatory note 2019 (Click to enlarge)

Source: LHDN's explanatory note 2019 (Click to enlarge)

8. Losses
Instead of just amounts carried forward, you are asked to give more information about losses of current YA and prior YA, as below:
Source: Extract of Form B of YA 2019 for reference only (Click to enlarge)
Note: From YA 2019 onwards, you can only carry forward unabsorbed losses for up to 7 YAs.

Last but not least, file your Form B of YA 2019 before due date, i.e. 30 June 2020.