{"id":5307,"date":"2013-10-26T13:13:57","date_gmt":"2013-10-26T05:13:57","guid":{"rendered":"http:\/\/www.nbc.com.my\/blog\/?p=5307"},"modified":"2024-11-01T11:11:13","modified_gmt":"2024-11-01T03:11:13","slug":"budget-2014-corporate-tax-rate-reduced-24","status":"publish","type":"post","link":"https:\/\/www.nbc.com.my\/blog\/budget-2014-corporate-tax-rate-reduced-24\/","title":{"rendered":"Budget 2014: Corporate tax rate reduced to 24%"},"content":{"rendered":"<p><a href=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2013\/10\/corporate-tax-rate-24-percent.png\"><img loading=\"lazy\" decoding=\"async\" style=\"margin: 0px 10px 10px 4px; border: 0px currentcolor; float: left; display: inline; background-image: none;\" title=\"corporate-tax-rate-24-percent\" src=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2013\/10\/corporate-tax-rate-24-percent_thumb.png\" alt=\"corporate-tax-rate-24-percent\" width=\"225\" height=\"86\" align=\"left\" border=\"0\" \/><\/a>To support the smooth implementation of GST and to further enhance the competitiveness of Malaysia, <strong>the corporate tax rate will be reduced by 1%, from current 25% to 24%<\/strong>, with effect from year of assessment 2016 onwards. This means company tax reduction will be effected only after 1.5 years from the date of GST implementation (1 April 2014).<\/p>\n<p>For SME company with paid up capital up to RM2.5 million, the rates will also be reduced by 1% as follows:<\/p>\n<p><!--more--><\/p>\n<p>&nbsp;<\/p>\n<p>i. 19% on chargeable income up to RM500,000 (reduced from 20%)<\/p>\n<p>ii. 24% on the remaining chargeable income (reduced from 25%).<\/p>\n<p><strong>Effective date: From year of assessment 2016 onwards.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To support the smooth implementation of GST and to further enhance the competitiveness of Malaysia, the corporate tax rate will be reduced by 1%, from current 25% to 24%, with effect from year of assessment 2016 onwards. This means company tax reduction will be effected only after 1.5 years from the date of GST implementation [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":6055,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[162],"tags":[81,121,175],"class_list":["post-5307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-malaysia-tax-budget","tag-company-tax","tag-income-tax","tag-malaysia-budget-2014"],"_links":{"self":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/5307"}],"collection":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/comments?post=5307"}],"version-history":[{"count":1,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/5307\/revisions"}],"predecessor-version":[{"id":6613,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/5307\/revisions\/6613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/media\/6055"}],"wp:attachment":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/media?parent=5307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/categories?post=5307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/tags?post=5307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}