27/07/2026

BIZ & FINANCE MONDAY | JULY 27, 2026

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TAXES cannot be collected without a formal assessment. All taxpayers must submit the tax returns provided for in legislation in the prescribed forms managed by the Inland Revenue Board (IRB). Once an assessment has been issued, the taxpayer has 30 days to settle the tax. With the introduction of the self-assessment system, it is the responsibility of the taxpayer to compute the taxable income and submit the tax return to the IRB, which automatically becomes the “assessment”. This is a generic position for the submission of annual tax returns for all taxpayers. However, in addition to annual tax returns, the IRB can raise other types of assessment for various purposes. The following are the common types of tax assessments that taxpayers may encounter under the Income Tax Act 1967. Original Assessment An Original Assessment is the deemed assessment computed and submitted by a taxpayer for a particular year of assessment. Best Judgment Assessment A Best Judgment Assessment is issued when a taxpayer fails to furnish an income tax return or where the IRB is unable to ascertain the taxpayer’s actual income due to insufficient information or non-compliance. Such assessment may not necessarily reflect the taxpayer’s actual income and can often result in higher tax liabilities. Additional Assessment An Additional Assessment is issued when the IRB subsequently discovers that the tax originally assessed or deemed assessed is

Understanding the different types of IRB assessments

Reduced Assessment A Reduced Assessment is issued when the IRB is satisfied that an existing assessment should be reduced. This may arise where, errors have been identified, tax computations are revised, taxpayers successfully object to an assessment or where there is an overstatement of original tax liability. A common example is where there is a need to retrospectively reduce the tax liability due to the fact that the gazette orders relating to tax incentives are issued well after the effective date. Composite Assessment A Composite Assessment is issued generally for cases settled by the investigation section of the IRB where both parties come to an agreement on the final settlement. This is unique in the sense that both the IRB and the taxpayer will come to an agreement that the settlement is final and both parties will not appeal against the assessment. Protective Assessment A Protective Assessment is generally raised to

preserve the IRB’s position where there is uncertainty regarding the taxpayer’s liability or where the statutory time limits are approaching. For example, a Protective Assessment may be issued while certain facts or legal issues remain under dispute. This ensures that the IRB’s right to assess tax is not lost should the matter subsequently be resolved in its favour. Points to note Once an assessment is issued, it is extremely important that you settle the tax within the 30 days time limit. Failure to do so will result in late payment penalties. However, if you are in financial difficulties and truly are unable to settle the taxes in one go, the IRB has been very accommodating in listening to taxpayers about their problems and tailoring an instalment plan to settle the outstanding tax liabilities. Usually, seeking an instalment plan for six or 12 months is not uncommon. This article is contributed by Thannees Tax Consulting Services Sdn Bhd managing director SM Thanneermalai (www.thannees.com). SingleInterface to roll out HyperX solution in M’sia within six months SingleInterface, founded in India in 2014, said it serves more than 400 enterprise brands across Asia and the Middle East and manages over 450,000 business locations globally. Its cus tomers span industries including retail, banking, automotive, healthcare, hospitality and con sumer goods. The company positions itself as a premium platform for enterprises and SMEs with multiple locations, arguing that its software replaces several standalone digital marketing tools. Punit said the platform has delivered returns on investment ranging from 30 times to 500 times for customers, citing an Indian banking client where the platform enabled more than US$1.4 billion (RM5.9 billion) in sales over an 18 month period. He added that customers stay with the company for an average of four years, although no Malaysia-specific performance metrics were disclosed. These figures were provided by the company and have not been independently verified. Punit said the company expects to roll out its HyperX solution in Malaysia within about six months after completing local regulatory and compliance requirements, including regis trations related to data protection and “Do Not Call” regulations. Speaking at the launch earlier, Stutts said the company sees growing demand for tools that help businesses manage their digital presence across hundreds or thousands of locations as consumer discovery increasingly begins online. “We believe digital visibility is no longer optional. It is a critical business strategy. SingleInterface aims to help brands strengthen their digital presence, improve local discover ability and create more consistent customer experiences across every business location.” From page 13 partners in Malaysia to provide consulting, implementation, on boarding, training and customer support, allowing the company to scale its business while gradually building its own local team.

insufficient. This commonly occurs following a tax audit or investigation where the IRB identifies undeclared income, incorrect tax treatment of transactions, excessive claims for deductions or reliefs or computational errors in the tax return. Prior to the issuance of an Additional Assessment, the IRB will always provide a computation of the additional tax liability, allowing the taxpayer an opportunity to respond and exercise the right to be heard. Additional Assessment may also be accompanied by penalties, where applicable. Advance Assessment An Advance Assessment allows the IRB to assess tax before it would ordinarily become due. This provision is typically invoked when the IRB has reason to believe that a taxpayer may leave Malaysia, dispose of assets or otherwise take steps that could prejudice the collection of tax. Advance Assessments are intended to safeguard the government’s ability to collect taxes that may become payable.

Soh (left) and Fujita at the foodpanda Malaysia-Aeon BiG partnership launch.

Aeon BiG on board foodpanda Malaysia’s platform

Fujita said customers will also have easier access to Aeon BiG’s house brands, including BiG Value and Living Choice. “This collaboration also strengthens our omnichannel strategy, allowing us to better serve customers wherever they choose to shop.” To mark the launch, customers can enjoy discounts of up to 50% on selected products until Aug 13, as well as stand a chance to win RM10,000 in weekly prizes through the “Order and Win” campaign. Foodpanda will also hold promotional activities featuring its mascot, Pau-Pau, at Aeon BiG outlets in Subang Jaya, Mid Valley and Wangsa Maju (both in Kuala Lumpur), where shoppers can receive vouchers worth up to RM15 and free delivery while stocks last. Customers can also sign up for a pandapro subscription to enjoy additional savings on grocery purchases. The partnership was formalised with the signing of a memorandum of understanding between foodpanda Malaysia and Aeon BiG at Aeon BiG Subang Jaya.

flexibility and convenience in grocery shopping. “The way Malaysians shop for groceries is evolving, with more people looking for greater flexibility in how and when they shop. Our role is to make that experience as simple and seamless as possible by expanding the range of trusted retailers available on foodpanda.” Soh said the collaboration with Aeon BiG will help customers shop with greater confidence and convenience by broadening the range of trusted retailers available on the platform. Aeon BiG (M) Sdn Bhd managing director Kenji Fujita said the partnership enables the retailer to make its products more accessible while maintaining its commitment to value and quality. “At Aeon BiG, we have always been committed to providing quality products at great value. Through this partnership with foodpanda, we’re making that experience even more accessible by giving customers another way to shop while continuing to enjoy the affordability, quality and service they expect from us,” he added.

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

KUALA LUMPUR: foodpanda Malaysia has partnered with Aeon BiG to bring the hypermarket chain’s stores onto its platform, allowing customers to shop from more than 16,000 grocery and household products at 21 outlets nationwide at the same in-store prices with delivery available in under an hour. The collaboration expands foodpanda’s network of grocery retail partners while supporting Aeon BiG’s omnichannel strategy by offering customers another channel to purchase groceries and household essentials. Customers can shop for a wide range of products through the foodpanda app, including fresh fruits and vegetables, meat and seafood, pantry staples, beverages and household essentials. Managing director of foodpanda Malaysia Kenneth Soh said the partnership reflects changing consumer preferences for greater