End of Tax Year Guide 2022 - Available Now:
We have prepared an article to guide you through the process of wrapping up the 2022 tax year and getting you ready for the 2023 financial year. The guide covers end-of-tax year preparation: from reviewing employee and business data for the last pay run in the current tax year; to generating EA, PCB2 and E forms. Then it looks forward to 2023 and covers what tasks will need to be completed for the new tax year, such as reviewing and updating each employee's statutory details and tax relief. Finally, we cover proposed changes for the tax year 2023, including the new proposed tax rate and tax relief from the Malaysian Budget tabled in Oct 2022. These have not been enacted, and we will keep you updated based on government announcements. You can read our guide in full here: End of Tax Year Guide 2022
New SOCSO & EIS Combined Contribution File:
We have added a new report under Statutory reporting, allowing administrators to download text files for SOCSO and EIS contributions simultaneously. This report is also available as part of the Statutory exports in each finalised pay run. Read more in the support article: SOCSO & EIS - Monthly contribution Report: Payroll