Taxes when starting in September
#1
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Joined: May 2016
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Taxes when starting in September
If you start a new role in the middle of the year, then you'll obviously be in the country for less than 183 days for that tax year. Will you be charged a flat 26% or will they use the progressive tax scale? Thanks!
#2
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Joined: Feb 2008
Posts: 542
Re: Taxes when starting in September
Your Malaysian source income for 2016 will therefore be taxed at the progressive rates applicable to a tax-resident individual.
#3
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Re: Taxes when starting in September
Thanks! That's really helpful. On that note, if you're working for a Labuan entity or co-located office, is it true that 50% of your income is tax exempt? If so, is that reflected in payroll taxes or do you have to claim the exemption during tax filing in the following year?
#4
Re: Taxes when starting in September
Thanks! That's really helpful. On that note, if you're working for a Labuan entity or co-located office, is it true that 50% of your income is tax exempt? If so, is that reflected in payroll taxes or do you have to claim the exemption during tax filing in the following year?
Presumably you're not working in Labuan?
#5
Re: Taxes when starting in September
Actually the link below probably answers the question. It seems the 50% exemption is only if you work in Labuan.
http://www.mia.org.my/new/downloads/...t/2011/B18.pdf
http://www.mia.org.my/new/downloads/...t/2011/B18.pdf
#6
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Re: Taxes when starting in September
Actually the link below probably answers the question. It seems the 50% exemption is only if you work in Labuan.
http://www.mia.org.my/new/downloads/...t/2011/B18.pdf
http://www.mia.org.my/new/downloads/...t/2011/B18.pdf
https://home.kpmg.com/xx/en/home/insights/2011/12/malaysia-income-tax.html#08
#7
Re: Taxes when starting in September
The link I posted was also from 2011 but the KPMG link seems to be more complete. I guess your first step is to check that the co-location has Labuan Financial Services Authority approval.
#10
Re: Taxes when starting in September
I saw your other thread on this. If you have an income in Malaysia then I would have thought you could get a loan. Most of the people on here try not to have Malaysian income (MM2H) but I do know one expat working in Malaysia who recently bought a car with a loan though whether it was he or the company who took out the loan, I'm not quite sure.
#11
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Re: Taxes when starting in September
Ah gotcha. Thanks!