Malaysia Hotline: +603-2141 8908
The corporate tax also can be defined as corporation tax or company tax. Malaysia Corporate tax is imposed on the company's profits or income and the tax rate varies by country. Corporate taxes also affected by operating. In term of the taxation, both of the Malaysia's resident or Malaysia's non-resident company, all must calculate and submit corporate income tax to the tax bureau.
1. Table of Malaysia Corporate Tax Rate for 2019 as follows:
|
Companies
|
Taxable Income (RM)
|
Income tax year ratio of the year
2019 (%)
|
|
Malaysia's Residence Company:
The paid-up capital is RM2.5 million or less.
|
The First RM500,000
|
17
|
|
|
Subsequent balance
|
24
|
|
Do not control or indirectly control another company with
paid-up capital exceeding RM2.5 million
|
More than RM500,000
|
24
|
|
Not directly or indirectly controlled by another company
with paid-up capital exceeding RM2.5 million
|
|
Malaysia's Non-Residence Company/Branch
Office:
|
|
24
|
2. Malaysia Company Withholding Tax
Expenditure and expenses for all production and income are allowed to be deducted. However, please note that different types of business and industries have different operating expenses, and IRB may assess based on common industry practices and examine the object of the expenses and their correlation with the income generating activity. Here is list of withholding tax for the Malaysia Company:
a)
Employee salary,
allowance, provident fund, social security
b)
Business lease
c)
Commercial
insurance
d)
Utility fee,
network fee
e)
Promotional gifts
and samples
f)
Interest
g)
Donation
h)
Fined
i) Medical and
dental benefits
j) Visa and business
registration
k)
Retirement
gratuities and pensions
l) Death
consumption, etc.
3. Year of the Taxation for Malaysia Company
The taxpayer will pay taxes based on the company's
fiscal year.
4. The Fined Company
If the tax is not levied before the deadline, a fine
of 10% will be imposed on the unpaid amount. If the taxes payable and the fines
are not fulfilled within 60 days of the due date, an additional 5% fine will be
imposed on the unpaid taxes and fines.
As long as the regulations of the tax bureau are
complied with, the company will not impose fines on the company due to late
filing of tax returns or late tax payment. Although the company income tax
calculation is the same, the withholding tax and some details of each company
are different. We will deduct legal taxes based on the type of company and
allow each company to pay a reasonable income tax.
For more details on tax calculations for corporate
income tax, please contact Tannet Malaysia. Tannet Malaysia can handle and help
you because Tannet Malaysia is familiar with tax and other matters of the Tax Bureau
and can provide you with a practical solution. For further enquiries, please
feel free to call the Tannet Service Hotline at 603-2141 8908 or email
mytannet@gmail.com. Malaysia Company Address: Unit 6.06, Level 6, Amoda 22,
Jalan Imbi 55100 Kuala Lumpur.