TAX QUESTIONS? YOU ASK LAH!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

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Q: I am an employee who submits Form BE annually. Last year, I submitted Form e-BE within the submission due date and have an overpaid tax. I did not receive the tax refund until 60 days later. Am I eligible to receive 2% compensation for the overpaid tax?

A: No, you are not eligible because the 2% compensation for the late refund of overpaid tax is only applicable if you receive the tax refund after more than 90 days from the due date of submission.    

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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