Malaysia Tax Rate 2018

Ya 2018 2019 tax rm on excess 5 000 0 1 20 000 150 3 35 000 600 8 50 000 1 800 14 70 000 4 600 21 100 000 10 900 24 250 000 46 900 24 5 400 000 83 650 25 600 000 133 650 26 1 000 000 237 650 28 a qualified person defined who is a knowledge worker residing in iskandar malaysia is taxed at the rate of 15 on income from an employment with a.

Malaysia tax rate 2018. These new rates will apply for those who have accumulated their income from january 2018 to december 2018 and are filing their taxes from march april 2019. A qualified knowledge worker in a specified area currently only iskandar malaysia is taxed at the concessionary rate of 15 on chargeable income from employment with a designated company engaged in a qualified activity e g. The standard corporate tax rate of 24 for a period of five years with a possible extension for another five years. On the first 35 000 next 15 000.

There are no other local state or provincial government taxes on income in malaysia. On the first 50 000 next 20 000. On the first 10 000 next 10 000. An effective petroleum income tax rate of 25 applies on income from petroleum operations in marginal fields.

Rate tax rm 0 2500. Malaysia will impose a tax of between 5 per cent and 10 per cent on the sale of goods while services will attract a 6 per cent levy when a new tax regime comes into effect on. Here are the tax rates for personal income tax in malaysia for ya 2018. For year of assessment 2018 the rates for lower brackets earners have been decreased from 5 to 3 10 to 8 and 16 to 14 for the year of assessment 2018.

No other taxes are imposed on income from petroleum operations. Petroleum income tax is imposed at the rate of 38 on income from petroleum operations in malaysia. On the first 5 000 next 5 000. All prices in malaysian ringgit rm myr all price above will subject to malaysia service tax at 6 commencing 1 september 2018.

Those in the brackets above have their tax rates unchanged so now the next thing you will need to do is to calculate your chargeable income. With effect from ya 2020 a non resident individual is taxed at a flat rate of 30 on total taxable income. On the first 20 000 next 15 000. You don t have to pay taxes in malaysia if you have been employed in the country for less than 60 days or for income that is earned from outside malaysia.

For existing companies including existing companies with approved operational. On the first 2 500.