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In support of the Government’s initiatives to ease the economic pressures faced by the corporate community arising from the COVID-19 pandemic, Suruhanjaya Syarikat Malaysia (SSM) has granted the extension of time (EOT) for companies with financial year ended after 31 August 2019 to 31 March 2020 that are affected by the Movement Control Order (MCO), to hold an AGM, to circulate and to lodge financial statements and reports for a period of 90 days. The application for EOT for companies with financial year ending from 1 September to 31 December 2019 has been closed but for companies with financial year ended after 31 December 2019 up to 31 March 2020, application can still be submitted to the Registrar by 30 September 2020 and the application fee will be waived.

The Institute would like to remind members that if the company affected by the pandemic is still unable to lodge the financial statements by the extended deadline (after the first EOT application), the company can apply for a subsequent EOT (which is chargeable) from SSM and approval will be granted on a case-by-case basis.

The Institute also received feedback from members in the northern region that many companies located in several areas in Kedah are affected by the Enhanced MCO and face difficulties in complying with the deadline for lodgement of financial statements to SSM and submission of tax returns to Inland Revenue Board Malaysia (IRBM), which are due in September and October 2020 respectively. In such cases, the application for a subsequent EOT from SSM or an EOT from IRBM, may be a viable option to be considered.

Below are the procedures for applying an EOT from IRBM and/or subsequent EOT from SSM:

EOT for submission of tax returns to IRBM

In addition to the Return Form Filing Programme for the Year 2020 (Amendment 3/2020) [RFFP] updated on 28 April 2020, the IRBM has confirmed through the email dated 25 September 2020 that if the taxpayer with the financial year ended 31 July 2019 to 31 December 2019 requires an EOT for the submission of the tax return after the grace period allowed as stated in the RFFP, the taxpayer can submit a written application to the IRBM’s branch where the tax file is handled.

Approval is subject to the merits of each application. The application letter must be addressed to the branch or by e-mail to the Customer Care Officer (CCO) of the respective branch. Please click here for the contact details of the CCOs.

Subsequent EOT for lodgement of financial statements to SSM

According to SSM’s FAQs Moratorium of Submission of Statutory Documents to SSM, if a company is still unable to lodge the financial statements before 30 September 2020, the company must apply for subsequent EOT and attach the copy of email, application and Appendix A of the SSM’s Practice Directive No. 6/2020 (PD 6/2020) under Covid-19 initiative which were previously submitted pursuant to PD 6/2020.