Malaysia - Taxation



Income tax is levied on all individual and corporate income accrued in Malaysia during the previous year. As of 2000, income of resident individuals is taxed at rates ranging from 2% to 29%. Resident and nonresident companies are charged a flat rate of 28%. A 38% income tax is levied on petroleum corporations.

Incentives are available for pioneer industries and for certain capital investments. Capital gains taxes are levied on real estate. Indirect taxes include a general 10% sales tax (5% for more essential items, and 15% for liquor and cigarettes), and a services tax.

User Contributions:

1
Steve Eric
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Jul 11, 2011 @ 9:21 pm
State the differences in the tax treatment for resident and non-resident individuals in terms of:
a) tax rate on chargeable income
b) employment income derived from Malaysia
c) income received from outside Malaysia
2
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Jul 11, 2011 @ 9:21 pm
Explain on e-filing mechanism,its advantages and disadvantages.

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