Taxation in Malaysia
Content
Taxation in Malaysia
Generated by MIDA's English Website
Taxation in Malaysia Taxation 1. Taxation in Malaysia Income of any person including a company, accruing in or derived from Malaysia or received in Malaysia from outside Malaysia is subject to income tax.
However, with effect from the year of assessment 2004, income received in Malaysia by any person other than a resident company carrying on business of banking, insurance or sea or air transport for a year of assessment derived from sources outside Malaysia is exempted from tax.
To modernise and streamline the tax administration system, the assessment of income tax was changed to a current year basis of assessment from the year 2000. The self-assessment system was implemented for companies in the year of assessment 2001 and for sole proprietors, partnerships, cooperatives and salaried groups, in the year of assessment 2004.
1/1
Generated by MIDA's English Website
Taxation in Malaysia Taxation 1. Taxation in Malaysia Income of any person including a company, accruing in or derived from Malaysia or received in Malaysia from outside Malaysia is subject to income tax.
However, with effect from the year of assessment 2004, income received in Malaysia by any person other than a resident company carrying on business of banking, insurance or sea or air transport for a year of assessment derived from sources outside Malaysia is exempted from tax.
To modernise and streamline the tax administration system, the assessment of income tax was changed to a current year basis of assessment from the year 2000. The self-assessment system was implemented for companies in the year of assessment 2001 and for sole proprietors, partnerships, cooperatives and salaried groups, in the year of assessment 2004.
1/1
