
Cp58 Sample Form


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Quick guide on how to complete cp58 excel
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People also ask
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Who should prepare CP58?
Pursuant to Section 83A(1) of the Income Tax Act of 1967, as of January 1, 2012, each company must prepare and provide the CP 58 form to its agents, dealers and distributors (hereinafter referred to as agents) by March 31 of each year in ance with the format required by LHDN.
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What is an example of a CP58?
CP58 is an income statement that shows all incomes in the form of monetary and non-monetary incentives. Examples of monetary incentives are allowances and bonuses. While examples of non-monetary incentives are houses, cars, flight tickets.
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What is the penalty for CP58?
If a payer company fails to prepare Form CP58, they shall be guilty of an offence under Section 120(1)(b) of the Income Tax Act. They are liable to a fine of RM200 to RM20,000 or imprisonment not exceeding six months or both.
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When to issue CP58?
When is the due date to provide CP 58 form? The Form CP 58 shall be provided to the agent, dealer or distributor not later than 31 March in the year immediately following the year in which the incentives mentioned above are paid.
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What is CP 58 commission?
CP58 is a statement that a company or business in Malaysia must provide to any of its agents, dealers, or distributors who received commissions, rebates, or similar payments in the preceding year.
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