Wednesday, 20 January 2021

Personal Tax

Encountered some questions on Malaysia personal tax matters? Inland Revenue Board (IRB), the Malaysian tax authorities published some FAQ that may be relevant to individual tax payer in Malaysia. Here are some extracts: Assessment of Tax Q...
Employee Benefits and Income earned by Staff exempted from Income Tax

With effect from YA 2008, employees are given tax exemption on allowances, benefits in kind and perquisites that received from their employer as follows: (a) perquisites in relation to travel allowance, petrol card, petrol allowance...

Malaysia Inland Revenue Board (IRB) on 12 April 2011 issued a Technical Guideline on personal tax relief or deduction on the broadband subscription fee. It clarifies that individual (employee) who receives benefit on using...

TAXPAYERS using e-Filing will be getting their refund credited directly into their bank accounts within 30 days after the declaration is made. Inland Revenue Board (IRB) public relations officer Masrun Maslim said the refund would...

Following the implementation of Self Assessment Taxation System in Malaysia years ago, the Inland Revenue Board switches its focus and attention in doing tax audits to ensure taxpayers comply with the legal provisions and...

Every tax payers are allowed to claim tax reliefs to set-off against their employment or business income when calculating their personal tax. However, based on our experience, most of the tax payers have easily believed...
Personal-Tax-Rates-Table-for-2014-2015

As it was announced in Budget 2014 & proposed in the latest Budget 2015, individuals income tax rates will be reduced by 1% to 3% with effective from the year of assessment 2015. Technically, families with total...

Claim your housing loan interest as personal tax deduction/relief up to RM10,000 per year for 3 years of assessment (RM10,000 x 3 YAs = RM30,000 in total), if you buy a house before 31...

Individual personal tax relief is only available for individuals who are considered tax resident in Malaysia. No tax relief is available for non-tax residents. Generally rule is, a person is a Malaysia tax resident...
Malaysia-Personal-Income-Tax-Rates-Table-2012

Every individual is subject to tax on income earned in Malaysia or received in Malaysia from outside Malaysia. Income earned in oversea remitted to Malaysia by a resident individual is exempted from tax. The following...
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