SushiVid Collaborate With LHDN To Educate Transparency On Tax With Influencer

SushiVid Collaborate With LHDN To Educate Transparency On Tax With Influencer | SushiVid Sdn Bhd, ASEAN's leading influencer marketing company,  recently collaborated with Lembaga Hasil Dalam Negeri Malaysia (LHDNM) in an educational complimentary workshop. The workshop was made with an objective to create industry transparency and legitimize engagement of influencer marketing and to educate influencers to understand their responsibility as a taxpayer by providing insightful tips and guidance to the influencer. Thus the influencer will understand their responsibilities and rights as Malaysian citizens on tax declaration and tax benefits.

Influencer marketing is on the rise in recent years when more and more social media platforms and features are introduced to the market. Brands are becoming more willing to allocate a good amount of budget to engage influencers to help market their products and services via social media channels. According to Malaysian Digital Association (MDA), influencer marketing has now become one of the key channels in the marketing mix. In Malaysia, a micro-influencer starts with 10,000 followers and a hardworking influencer with this following can get an average of five campaigns in a month. 

It was made clear that according to LHDN, an individual who earns more than RM34,000 per annum (approximately RM2,833.33 per month) after EPF deductions will need to register a tax file. It is understood that an influencer earning more than RM3,000 per month from any sponsored content, paid review or any form of online business via social media may be subjected to income tax.

The influencer will have to understand that they need to make sure to get the necessary details (job scopes, invoices, statement) from any agency who appoint them, such as SushiVid, as these will ease them in filing their taxes

How to register?

Log in to http://ez.hasil.gov.my and key in your identity card no then send. 

Next, key in your password and proceed

Under e-filing, click for your e-Borang

Choose your e-Borang (source of income) and for influencer please click form e-B

This is the e-Borang that you need to fill up with all the necessary details and from here you need to give details of dependants, bank account, rebate, income etc and last will be your declaration. There is an option for you to print the draft perhaps for a final check, to sign the form and send or back to amend where necessary.

As Tax Payer you need to take note of the following

• Responsibility to report your annual income and calculate the tax in Borang Nyata Cukai Pendapatan (BNCP)
• Submission date is on 30 June every year  
• Payment – to be made before or on the 30 June
• Review – monthly tax deduction (PCB) for year 2019 is paid by the employer through e-Lejar (www.hasil.gov.my and the PCB amount is paid monthly and correct as per PCB

The workshop have given the influencer knowledge on tax and understand the important of tax for our country and this also to educate everyone to be come a responsible tax payer.

The workshop also gave an opportunity for LHDN to understand in more detail about influencer marketing, in order to plan ahead for future developments and the event also serves as a platform to promote industry transparency, increase the credibility of influencer marketing and legitimize the business as a growing profession which would help in boosting the digital economy. The more credible the business becomes, it will attract more brands and businesses to believe and invest in influencer marketing

The event which was officiated by En Hishamudin Mohamed, Director of Corporate Services, LHDNM and Ms Foong Yuh Wen, Founder and Chief Executive Officer of SushiVid, held at Menara Hasil in Damansara Perdana and attended by more than 70 influencers. The workshop ended with a Q&A session to address the doubts influencers have on tax declaration and tax filing. LHDN has also invited a handful of auditors to be on standby to guide the influencers on tax filing processes particularly for digital businesses and shared economy platforms.

Get to know more and how to earn income as influencer, check out www.sushivi.com | fb | insta