MOF – Individual Tax Residents to be Exempted from Tax on Foreign Sourced Income until 31-12-26
1. It was announced by the Ministry of Finance (MOF) in a press release that the government has agreed to exempt from taxation until December 31, 2026 : 👉 all sorts of foreign income generated by individuals, as well as 👉 dividend income earned by Companies and Limited Liability Partnerships. 2. However, this will be […]
What Exactly is Considered a Taxable Remittance 4 – Should I Remit or Not
What Exactly is Considered a Taxable Remittance 4 – Should I Remit or Not – PDF P/S: According to a press release issued by the Ministry of Finance on 30 December, the government has agreed to exempt overseas income from taxation until 31 December 2026, subject to certain conditions. 1. The Ministry of Finance issued […]
MOF: Individuals to be Exempted from Tax on Foreign Sourced Income until Dec 31, 2026
Siaran Media Kementerian Kewangan Malaysia: Individuals to be exempted from tax on the Foreign-Sourced income until Dec 31, 2026 KUALA LUMPUR, 30 Dis – The government has agreed to exempt taxation on foreign source income (FSI) for resident taxpayers to ensure the smooth implementation of the tax initiative, said the Ministry of Finance (MoF). The […]
What Exactly is Considered a Taxable Remittance 3 – How do I Know What Income or Gains I’ve Remitted
What Exactly is Considered a Taxable Remittance 3 – How do I know what income or gains I have remitted – PDF 1. Suppose we have remitted money from overseas to Malaysia. In that case, it can sometimes be difficult to distinguish between different types of income or earnings, especially if you have more than […]
What Exactly is Considered a Taxable Remittance 2 – Definition & Examples
What Exactly is Considered a Taxable Remittance 2 – Definition & Examples of Remittances – PDF 1. In general, if you have foreign source income or profits from foreign gains and you bring them directly or indirectly to Malaysia so that you can benefit from the income or gains in Malaysia, you are considered to […]
What Exactly is Considered a Taxable Remittance 1 – Introduction
What Exactly is Considered a Taxable Remittance 1 – Introduction – PDF 1. If you are currently working abroad or have income abroad yourself, I’m sure you are getting chagrined as 2021 slowly draws to a close. 2. This is because the proposed amendments to Para 28 of the Sixth Schedule of the Income Tax […]
Costs of Renovation and Refurbishment of Business Premise
Income Tax (Costs of Renovation and Refurbishment of Business Premise)(Amendment) Rules 2021 – PDF P.U (A) 481 – Income Tax (Costs of Renovation and Refurbishment of Business Premise)(Amendment) Rules 2021 – As at 27 December 2021 P.U. (A) 381 – Income Tax (Costs of Renovation and Refurbishment of Business Premise)(Amendment) Rules 2020 – As at […]
Income Tax (Special Deduction for Reduction of Rental to a Tenant other than a Small and Medium
1. On 27 December 2021, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) read together with paragraph 33(1)(d) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Special Deduction for Reduction of Rental to a Tenant other than a Small and Medium Enterprise) (Amendment) Rules 2021 [P.U. (A) […]
Special Deduction for Reduction of Rental to a Small and Medium Enterprise
1. On 27 December 2021, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) read together with paragraph 33(1)(d) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Special Deduction for Reduction of Rental to a Small and Medium Enterprise) (Amendment) Rules 2021 [P.U. (A) 479]. 2. These Rules […]
Income Tax (Exemption) (No. 12) Order 2021: Arts or Cultural Activities, Sports, etc.
1. On 27 December 2021, the Minister, in the exercise of the powers conferred by paragraph 127(3)(b) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Exemption) (No. 12) Order 2021 [P.U. (A) 478] 2. This Order has effect from the year of assessment 2020 until the year of assessment 2025. 3. […]
