Income Tax Malaysia Rate

For example let s say your annual taxable income is rm48 000. Personal income tax rate in malaysia averaged 27 29 percent from 2004 until 2020 reaching an all time high of 30 percent in 2020 and a record low of 25 percent in 2015. Malaysia personal income tax rate.

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Here are the income tax rates for personal income tax in malaysia for ya 2019.

Income tax malaysia rate. However if you claimed rm13 500 in tax deductions and tax reliefs your chargeable income would reduce to rm34 500. The personal income tax rate in malaysia stands at 30 percent. With effect from ya 2020 a non resident individual is taxed at a flat rate of 30 on total taxable income. Calculations rm rate.

Based on this amount the income tax to pay the government is rm1 640 at a rate of 8. Other rates are applicable to special classes of income eg interest or royalties. Tax rm 0 5 000. A graduated scale of rates of tax is applied to chargeable income of resident individual taxpayers starting from 0 on the first rm5 000 to a maximum of 30 on chargeable income exceeding rm2 000 000 with effect from ya 2020.

Non resident individuals pay tax at a flat rate of 30 with effect from ya 2020. On the first 5 000. The gross amount of interest royalty and special income paid by the payer to a nr payee are subject to the respective withholding tax rates of 15 10 and 10 or any other rate as prescribed under the double taxation agreement between malaysia and the country where the nr payee is a tax resident.