COMPANY TAX
A company, whether resident or not, is assessable on income accrued
in or derived from Malaysia. Income derived from sources outside
Malaysia and remitted by a resident company is exempted from tax,
except in the case of the banking and insurance business, and sea and
air transport undertakings. A company is considered a resident in
Malaysia if the control and management of its affairs are exercised in
Malaysia.
A corporate tax rate of 27% for year of assessment (YA) 2007, 26% YA
2008 and 25% YA 2009 on wards. This applies to both resident and
non-resident companies. However, company with chargeable income
below RM500,000 will be taxed at 20%. A company carrying on
petroleum upstream operations is subject to a Petroleum Income Tax of
38%.
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