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Tax Rates in Malaysia for 2016-2017, 2015-2016, 2014-2015

Taxable Income (RM)

2016 Tax Rate %

 

0 - 5,000

 

0%

 

5,001 - 20,000

 

1%

 

20,001 - 35,000

 

5%

 

35,001 - 50,000

 

10%

 

50,001 - 70,000

 

16%

 

70,001 - 100,000

 

21%

 

100,001 - 250,000

 

24%

 

250,001 - 400,000

 

24.5%

 

400,001 - 600,000

 

25%

 

600,001 - 1,000,000

 

26%

 

Exceeding 1,000, 000

 

28%

 

 

 

Malaysia Income Tax Rates 2014 and 2015 and Deductions

Malaysia Income Tax Rate for Individual Tax Payers

Lowest Individual Tax Rate is 2% and Highest Rate is 26% for 2014 and Lowest Tax Rate for Year 2015 is 1% and Highest Rate is 25%
 

Taxable Income (RM)

2014 Tax Rate %

2015 Tax Rate %

 

0 - 5,000

 

0%

 

0%

 

5,001 - 20,000

 

2%

 

1%

 

20,001 - 35,000

 

6%

 

5%

 

35,001 - 50,000

 

11%

 

10%

 

50,001 - 70,000

 

19%

 

16%

 

70,001 - 100,000

 

24%

 

21%

 

100,001 - 250,000

 

26%

 

24%

 

250,001 - 400,000

 

26%

 

24.5%

 

Above 400,000

 

26%

 

25%

 

Non-residents are subject to withholding taxes on certain types of income. Other income is taxed at a rate of 26% for 2014 and 25% for 2015.

Corporate Tax Rates in Malaysia

The corporate tax rate is 25%. Resident companies with a paid up capital of MYR 2.5 million and below (as defined) at the beginning of the basis period for a Year of Assessment (YA) are subject to a corporate income tax rate of 20% on the first MYR 500,000 of chargeable income. For chargeable income in excess of MYR 500,000, the corporate income tax rate is 25%. Leasing income (from moveable property) derived by a permanent establishment in Malaysia is taxed against a rate of 25% whereas a non-resident corporation with no Malaysian permanent establishment is taxed against a rate of 10%. A special 5% rate applies to corporations involved in qualified insurance businesses. Income generated by a life fund of an insurance company is taxed against a rate of 8%. A non-resident corporation with shipping or air transport income may also benefit from a special tax regime. 70% of statutory income of resident corporations derived from the transportation of passengers or cargo on Malaysian ships is exempt. Companies engaged in petroleum operations are subject to a rate of 38%.

 

Capital Gains Tax in Malaysia

In general, capital gains are not taxable. However, gains derived from the disposal of real property  located in Malaysia and gains derived from the sale of shares in closely controlled companies with substantial real property interests are subject to real property gains tax (RPGT).

Capital gains derived from the disposal of chargeable assets by an individual between 1 January  2010 and 31 December 2010 within two and 5 years after the acquisition date are taxed at effective rates of 10% and 5%, respectively.

Effective from 1 January 2013, capital gains derived from the disposal of chargeable assets by an individual within two and 5 years after such date are taxed at effective rates of 15% and 10%, respectively.

All disposals made after such 5-year period are exempt from RPGT.

Malaysia Dates of filing Returns / Reporting and Payment

Tax Year 1 January to 31 December
Tax Return due date 30 April

 
 

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