KUALA LUMPUR (Feb 24): The Inland Revenue Board (IRB) has issued nearly 200,000 Tax Installment Payment Notices (CP500) to taxpayers with an estimated tax amount of RM1.1 billion, up to January 2026, according to the Ministry of Finance (MOF). The MOF said the government is aware of the situation where there are taxpayers who do not actually receive income other than employment income who have also received the CP500. “The IRB review found that the taxpayers in question have made inaccurate reporting in the Income Tax Return Form (ITRF), where part of the employment income has been reported as income other than employment. The MOF was replying to questions from Lim Guan Eng (PH-Bagan) and Chong Chieng Jen (PH-Stampin) who wanted to know the basis on which the CP500 installment payment form was issued, how many taxpayers were involved and the amount expected to be collected. “Taxpayers are also advised to update their income reporting information in the 2025 ITRF to avoid receiving CP500 in the future,” it added.

Source: The Edge Markets February 24, 2026 16:01 UTC