Understanding how to properly fill out the TP-3 Form is crucial for taxpayers to ensure compliance with tax laws and avoid penalties. Find all the essential information you need to know about the TP-3 Form in this quick guide along with a free editable template you can download and use for tax filing purposes.
What is a TP3 Form?
The TP3 Form is a document provided by employees to their new employer to report any income earned from previous employment/s within the same tax year. It also contains information about accumulated deductions from their previous employer/s. This form helps employers accurately calculate Monthly Tax Deduction (MTD) amounts for compliance with Malaysia's tax laws.
Who should fill up the TP3 Form?
As per the Malaysia Inland Revenue Board (LHDN) requirements, newly hired employees must submit the TP3 Form to their new employer to ensure accurate calculation of Monthly Tax Deduction (MTD) amounts for payroll processing.
Fresh graduates and new hires without previous income in the current year can submit a blank amount on their TP3 Form.
Is there a Deadline for TP3 Form Submissions?
TP3 Forms don't need to be submitted to LHDN, unless requested during a PCB audit. Employers, however, should ensure their employees complete and sign form TP3 when they start their employment. These forms should be kept by the employer for at least seven years.
The TP3 Form can be downloaded for FREE from PayrollPanda and the LHDN official website.
Yes, TP3 Forms can be submitted online through the e-Filing system on the LHDN website.
The TP3 Form involves several key pieces of information. These include the previous taxable employment income earned by the individual during the current year. Additionally, the form must detail the total EPF (Employee Provident Fund) contribution made by the employee for the same period. It should also include the total tax paid thus far in the current year, such as PCB (Monthly Tax Deduction) or MTD, and SOCSO (Social Security Organization) contributions.
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