Malaysia’s taxes are assessed on a current year basis and are under the self-assessment system for all taxpayers. All income accrued in, derived from, or remitted to Malaysia is liable to tax. That said, income of any person (other than a resident company carrying on the business of banking, insurance or sea or air transport) derived [from sources] outside Malaysia and received in Malaysia is exempted from tax. One thing worth mentioning is Malaysia has an extensive number of double tax treaties available for the avoidance of Double Taxation.
Corporate Income Tax
resident and non-resident organisations doing business and generating taxable income in Malaysia will be taxed on income accrued in or derived from Malaysia.
Individual Income Tax
individual income tax in Malaysia is imposed on earned in Malaysia or received in Malaysia from outside Malaysia.
very individual is subject to tax on income accruing in or derived from Malaysia.
