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(Extracted from 2012 Budget Commentary And Tax Information)

INCOME TAX RATES — RESIDENT INDIVIDUALS, CLUBS AND TRADE ASSOCIATIONS OR SIMILAR INSTITUTIONS, ESTATES (DOMICILED IN MALAYSIA), HINDU JOINT FAMILY

INCOME TAX RATES – KNOWLEDGE WORKERS IN ISKANDAR MALAYSIA

With effect from Y/A 2010, the employment income of an individual who is a knowledge worker residing in Iskandar Malaysia and is employed with a person who is carrying on a qualified activity would be taxed at 15% of his or her chargeable income. The Malaysian Inland Revenue Board has clarified that qualifying individuals can opt to be taxed at 15% by indicating an option in the return form. Otherwise, the individuals will be taxed at scale rates.

The PU Orders on Income Tax (Determination of Knowledge Worker, Qualified Activity and Specified Region) Rules 2010 was issued on 29 September 2010.

The above Rules apply to a qualified person who has been granted approval by the Minister of Finance on his application made on or after 24 October 2009 but not later than 31 December 2015. With the approval, his employment income from 1 January 2010 from the designated company would be subject to tax at the concessionary rate of 15%.

The Order provides definitions for the following terms:

  1. Qualified person

  2. Designated company

  3. Knowledge worker, qualified activities and specified region

Specified region within the Iskandar Development Region are:

  1. Nusajaya

  2. Western Gate Development

  3. Johor Bahru Central Business District

  4. Eastern Gate Development and

  5. Skudai – Senai

INCOME TAX RATES – RETURNING EXPERT PROGRAMME

In order to encourage skilled Malaysian professionals to return and boost the country’s economic growth, the employment income of an approved individual under the Returning Expert Programme (REP) will be taxed at the flat rate of 15% for a period of 5 years. This is with effect from Y/A 2012. Further terms and conditions on REP can be found in the Talent Corporation Malaysia Berhad’s website at www.talentcorp.com.my.

INCOME TAX RATES – COMPANIES

Note : "Y/A" refers to Year of Assessment
  "pyb" refers to preceding year basis
  "cyb" refers to current year basis

 

 

INCOME TAX RATES – OTHERS

Co-operative Society

PETROLEUM INCOME TAX RATES

WITHHOLDING TAX RATES

REAL PROPERTY GAINS TAX RATES (RPGT)

Please refer to Section C3.