Countries / Malaysia
Malaysia is a country in Southeast Asia. The country is multi-ethnic and multi-cultural, which plays a large role in its politics. About half the population is ethnically Malay, with large minorities of Malaysian Chinese, Malaysian Indians, and indigenous peoples.
Malaysia has had one of the best economic records in Asia, with GDP growing an average of 6.5 per cent annually from 1957 to 2005. Malaysia's economy in 2014–2015 was one of the most competitive in Asia, ranking 6th in Asia and 20th in the world, higher than countries like Australia, France and South Korea.
The economy has traditionally been fuelled by its natural resources but is expanding in the sectors of science, tourism, commerce and medical tourism. Malaysia has a newly industrialised market economy, ranked third largest in Southeast Asia and 33rd largest in the world
Cost of Life
Residency Programs (2)
Countries with a territorial taxation system only levy income tax from local income. Foreign income usually won't be taxed by that country.
Personal Income Tax (PIT)
Progressive tax up to 30% above 2,000,000 MYR (455,114 USD).
- Malaysian income, if resident
- Malaysian director's fees, if resident or non-resident
Personal Income Tax (PIT) on foreign income
- Foreign income, if resident
Personal Income Tax (PIT) for non-residents
Flat tax of 30%.
- Malaysian income, if non-resident
Non-resident individuals pay tax at a flat rate of 30% with effect from YA 2020 on any income accruing in or derived from Malaysia. Other rates are applicable to special classes of income, eg interest or royalties.
- Worldwide dividends, if resident
Rates Year of Assessment