Implementation of E-TT system for Telegraphic Transfer/Electronic Funds Transfer and Interbank Giro Payment Methods

Starting 1 April 2022, the new e-TT System will be implemented for the following payments through TT, EFT and IBG methods from within and outside Malaysia:

Income Tax
Petroleum (Income Tax)
Real Property Gains Tax (“RPGT”)
Compound Payment
Income tax paid by Foreign Artists (Public En-tertainer)
Withholding Tax (“WHT”)

Taxpayers who wish to pay tax through TT, EFT and IBG payment methods will be required to access the e-TT System to generate a Virtual Account (“VA”) Number as payment identification.

The VA Number will be used as the payment account number, i.e. MIRB CIMB bank account number when making payments through IBG / TT / EFT / RENTAS through the electronic banking portal or at the bank counter.

Please take note that one (1) VA number is limited to only one (1) transaction. As such, a new VA number will have to be generated each time a new transaction/payment is to be made.

From The Newsletter

Newsflash ASEAN

Contact

Contact Person Picture

Priya Selvanathan

Associate Partner

+65 6238 6770

Send inquiry

Implementation of E-TT system for Telegraphic Transfer/Electronic Funds Transfer and Interbank Giro Payment Methods

From The Newsletter

Contact

How We Can Help