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| INVESTMENT |
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Taxation |
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CORPORATE
TAX
All businesses are currently subject to a corporate tax rate of 28 % .
INDIVIDUAL INCOME TAX
| TAXABLE INCOME |
RM
|
%
|
TAX PAYABLE( RM) |
|
ON THE FIRST
ON THE NEXT
|
2,500
2,500
|
0
2
|
0
50
|
ON THE FIRST
ON THE NEXT |
5,000
5,000
|
-
4
|
50
200
|
ON THE FIRST
ON THE NEXT |
10,000
10,000
|
-
6
|
250
600
|
ON THE FIRST
ON THE NEXT |
20,000
15,000
|
-
10
|
850
1,500
|
ON THE FIRST
ON THE NEXT |
35,000
15,000
|
-
16
|
2,350
4,200
|
ON THE FIRST
ON THE NEXT |
50,000
20,000
|
-
21
|
4,750
4,200
|
ON THE FIRST
ON THE NEXT |
70,000
30,000
|
-
26
|
8,950
7,800
|
ON THE FIRST
ON THE NEXT |
100,000
50,000
|
-
29
|
16,750
14,500
|
ON THE FIRST
ON EVERY RINGGIT EXCEEDING |
150,000
|
-
30
|
31,250
-
|
|
The above rates apply
to all Malaysian Residents during the basis year for the year of assessment
and subsequent years. For companies, non-residents individuals, trust
bodies, official receivers and executors of estates of deceased individual
domiciled outside Malaysia at the time of his/her death, the tax is 28%
of chargeable Income for the year of assessment 1998 and subsequent years.
Source: Department of Inland Revenue, Malaysia.
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