Tax time is almost upon us again this year, you may be wondering whether or not you are filling in the correct form. For those of you who have a Tax Agent doing your Taxes, you need not worrry because it will generally have all been taken care of.

If you have the DIY spirit, then this will help you to understand what form you will need to complete.

Before you can select the appropriate form, you will need to work out if you were a ‘resident’ during the year. Without wanting to get too technical, you were a resident for Tax purposes if you satisify one of the following conditions:

1. You will have been living in Malaysia for at least 90 days per year for at least 3 consective years prior to the assessment year. This means that if the assessment year is 2006, then you must have been living here for 90 in 2003, 2004 & 2005.
2. You have been living within Malaysia for at least 182 days during the year of the Assessment. This means that if the year of assessment is 2006, then you must have been living in Malaysia for at least 182 between 1 jan 2006 and 31 December 2006. This rule also allows you to be out of the country providing that you were either either studying or Working (for a Malaysian company) or if you had to go for some personal reason (except, you cannot say you needed a vacation!)
3. You were living in Malaysia for at least 182 days leading up to the year of the assessment. This means that you would be classified as a ‘resident’ if you were in Malaysia since 3 June 2005 through to 1 Jan 2006 (inclusive).

OK, so now that you know what your ‘residency’ status was, all that remains it to select the appropriate form.
Borang BE
Due Date: 30 April each year
Purpose: To be filled in by any ‘Resident‘ individual that is receiving Non-Business income (so if you have you own business or you are partner in some venture, then this is not the form for you). Typically you will be recieving some form of employment income, or you may even be a student or a superannuitant.

Borang B
Due Date: 30 June each year
Purpose: To be filled in by any ‘Resident‘ individual that is receiving Income for their own Business/Partnership, so if you have you own business or you are partner in some venture, then this is form you need.

Borang M
Due Date: 30 June each year
Purpose: To be filled in by any individual that is not a ‘Resident‘ individual that is receiving any form of Income (whether it be purely from Employment, or even if you have your own Business/Partnership) then you will need to fill in this form.

Borang P
Due Date: 30 June each year
Purpose: To be filled in by the main partner in any Partnership. This form basically computes the Taxable income for the partnership, that will later be distributed and included in the individual partners Borang B returns.
Typically the main partner will be listed in the Partnership agreement as being the ‘Precedent’ (or main partner). If there is no main partner listed, then the main partner is the first partner in the partnership name e.g. Lim & Tan & Co, here, if a main partner was not specifically defined in the agreement, then the main partner would be taken as Lim.