TAX QUESTIONS? YOU ASK LAH!

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Q: I am an employee who submits Form BE annually. This year, I received a 2% compensation for the late refund of my overpaid tax from the Inland Revenue Board of Malaysia (HASiL). Should I report this income in my Form BE?

A: No, the compensation received from HASiL for the late refund of your overpaid tax is not taxable, hence, need not be reported in your Form BE.