KUCHING: The new Schedule of Monthly Deductions from the Inland Revenue Board is now available for use by employers.

The new schedule takes into account the change in the individual tax rate as announced in Budget 2009 and is applicable to 2009 remunerations.

A press release from the IRB yesterday stated that tax deductions made from previous years’ remunerations of employees paid in 2009 must be based on the old schedule (2004).

However the deductions made for bonus and director’s fees of previous years but paid in 2009 must be based on the new schedule.

A concession to use the new schedule is given until March this year for employers with a large number of employees and/or employers using the computerised payroll system.

Employers must apply in writing to the relevant board office branch handling their file.

The 2009 Schedule of Monthly Tax Deductions and the Explanatory Notes are available on the board’s website at www.hasil.gov.my.

Employers can collect their copies at IRB branches end of this month.