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MALAYSIA: More Profit, Less Tax Package Unveiled for 2017 and 2018 Assessment Years

Companies becoming more profitable in Malaysia are set to pay a lower level of tax under a new initiative unveiled as part of the country’s National Budget. From 1 January 2017 – the start of the new assessment year - any companies registering a year-on-year rise in income will be eligible to pay a reduced rate of income tax on the increased amount.[1] 

With the reduced amount payable calculated on a sliding scale, the proposed tax cuts are:

Increase in chargeable incomeIncome tax reduction
5 to <10%1%
10 to <15%2%
15 to <20%3%
20%4%

In an additional incentive for SMEs, the tax rate on their first RM500,000 (US$120,222) worth of income will be reduced from 19% to 18% as of the start of the new assessment year. Both incentive packages will also apply in 2018.


[1]  Office of The Prime Minister, Malaysia official website

Content provided by Picture: HKTDC Research
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