EMPLOYMENT INCOMES, PCB PAYROLL & CP-58 COMMISSION TREATMENT

Employment Incomes: Employment income refers to the money earned by an individual from their employment, which may include wages, salaries, bonuses, and other forms of remuneration. This is typically subject to taxation and requires employers to withhold certain amounts for tax purposes.

PCB Payroll (Pay As You Earn – PAYE): The Pay As You Earn (PAYE) system, often referred to as PCB in certain jurisdictions (like Malaysia), is a method of tax collection where the employer deducts income tax directly from the employee’s salary. This tax is withheld and paid on behalf of the employee to the tax authorities on a regular basis (usually monthly).

CP-58 Commission Treatment: CP-58 forms or the treatment of commissions typically refers to the manner in which commissions earned by employees (such as sales commissions or performance bonuses) are handled for tax reporting purposes. In some regions, employers may need to file specific forms or withhold additional taxes related to commissions, depending on the rules of the local tax authorities.