NEWS

 

TITLE: SSM's FAQs on Extension of Time for Lodgement of Financial Statements and Moratorium of Submission of Statutory Documents

DATE: 10/04/2020

10 April 2020 Circular No. 38/2020
 
TO ALL ACCOUNTANTS
SSM’S FREQUENTLY ASKED QUESTIONS (FAQs) ON:
1. EXTENSION OF TIME (EOT) FOR LODGEMENT OF FINANCIAL STATEMENTS FOR FINANCIAL YEAR ENDING 30 SEPTEMBER 2019 UNTIL 31 DECEMBER 2019
2. MORATORIUM OF SUBMISSION OF STATUTORY DOCUMENTS TO SSM
On 6 April 2020, the Government of Malaysia unveiled its supplementary stimulus package, enlisting additional measures aimed to further buffer the impact of the COVID-19 outbreak on SMEs. For a list of the additional measures, please refer to MIA Statement to Members on Supplementary Stimulus Package for SMEs dated 6 April 2020
Among the additional measures announced are the automatic moratorium of 30 days from the end of the Movement Control Order (MCO) to facilitate the lodgement of statutory documents as per SSM’s requirements and the application of 3 months extension of time (EOT) for the lodgement of financial statements for companies with financial year ended 30 September 2019 to 31 December 2019.
The 30 days moratorium is automatically granted by SSM and hence affected companies and limited liability partnership do not need to apply for the moratorium. No late lodgement fee will be imposed during the 30 days moratorium. For the EOT, companies with financial year-ends of 30 September to 31 December 2019 can apply for the EOT beginning 9 April 2020 by sending the application to eot@ssm.com.my and there is no payment to be made for the EOT application.
For further information on the above two measures, please refer to FAQs issued by SSM as follows:
1. Extension of Time (EOT) for Lodgement of Financial Statements for Financial Year Ending 30 September 2019 Until 31 December 2019
2. Moratorium of Submission of Statutory Documents to SSM
It is hoped that the FAQs would provide clarity on how the companies could utilise these measures provided by the Government.
 
Please be guided accordingly.
 
Thank you.
 
Yours faithfully
MALAYSIAN INSTITUTE OF ACCOUNTANTS
 
 
DR. NURMAZILAH DATO’ MAHZAN
Chief Executive Officer