- In compliance to the enhancement in taxation formula, user will no longer be allowed to change the payroll year at parameter setup once the payroll has been processed in the system.
- User must perform month & year end to ensure the record is being updated accordingly for future use and reference.
All the above will affect:
* Tax record
* Tax computation for current and previous year
- New bank format
* EON Internet Banking for salary
* EON Internet Banking for EPF
* EON Internet Banking for PCB
Updates on Personal Relief 2010
Government had make changes on the personal relief on taxation 2010. This include additional and increment in personal relief item as listed below.
i) Broadband subscription fees up to RM 500 per year.
ii) Annuity scheme premium from insurance companies commencing payment for 1st January 2010 up to RM 1,000 per year.
- Annuity premium is categorized as optional deduction and claims through TP1 form. For the purpose of calculation, the capping amount is RM1000 in TP1 form and any exceeding amount have to include on contribution to Employees Provident Fund (EPF) and life insurance premium as K1.
iii) Personal relief increase from 8,000 to 9,000 per year
For enquiry or purchase order, please call 03-91722228. For more detail please visit www.vivid.com.my