CP204 tax estimate, instalments and revisions
We forecast your profit, file CP204 at the right level, revise it in month 6, 9 or 11, and keep you inside the 30% margin so no penalty arises.
MYR 300Yearly plus revisions
For: Every company and LLP that must estimate tax payable each year, including new companies in their first basis period.
What we need from you
Last year's revised estimate
85% minimum rule
Current year profit projection
Estimate base
Date operations began (new company)
3-month deadline
Instalments paid so far
Revision math
Planned capital spending
Allowances lower tax
What we discuss
Is profit trending above or below plan?
Revision month choice
Any one-off gains this year?
CGT is separate; trading gains are not
Is the company an SME in its first two years?
Some SMEs may be exempt from estimates in early years; confirm current rule
Cash flow for monthly instalments
Spread vs revise
What we file
Submit e-CP204
Not less than 85% of last year's revised estimate
Pay monthly instalments
Estimate / number of instalments
Revise via CP204A
Example: estimate RM60,000, actual likely RM90,000: 90,000 > 78,000 (60,000 x 130%) so revise up
What you get
CP204 acknowledgement and instalment schedule
Revision memo
The law
- Sec 107C, Income Tax Act 1967: Company estimate of tax payable (CP204), minimum 85% rule, revisions and monthly instalments by the 15th Source
- Sec 107C(10), Income Tax Act 1967: Penalty of 10% on the excess where actual tax exceeds the revised estimate by more than 30% Source
- Sec 103, Income Tax Act 1967: Tax not paid by the due date is increased by a 10% penalty Source
Questions people ask
Contact us to book
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