ringgitplus2026-05-0610 min read
How To File Income Tax For Your Side Business
Check out the link for the RInggitPlus + ThinkTx curated Article by Our Tax Professionals.
This article explains how Malaysians with side gigs or freelance work must navigate their tax obligations. Unlike standard salaried employees, those with side businesses should file using Form B instead of Form BE. This combined form covers both employment and business income, with an e-filing deadline of June 30, 2026. A major advantage for business earners is the ability to deduct "wholly and exclusively" incurred business expenses from gross revenue, ensuring only net profit is taxed. The guide emphasizes diligent bookkeeping and clarifies that while SSM registration offers extra incentives, it is not a prerequisite for declaring side income.
This article explains how Malaysians with side gigs or freelance work must navigate their tax obligations. Unlike standard salaried employees, those with side businesses should file using Form B instead of Form BE. This combined form covers both employment and business income, with an e-filing deadline of June 30, 2026. A major advantage for business earners is the ability to deduct "wholly and exclusively" incurred business expenses from gross revenue, ensuring only net profit is taxed. The guide emphasizes diligent bookkeeping and clarifies that while SSM registration offers extra incentives, it is not a prerequisite for declaring side income.
Curated by Steffi Manisha Arokiam, Associate Director, both at ThinkTx Consultants Sdn Bhd.