Surtax –No
Alternative minimum tax – A Labuan company carrying on a
Labuan business activity may elect to pay a fixed amount of MYR
20,000, or to be taxed at 3% of the audited accounting profit.
Foreign tax credit – Foreign tax paid may be credited against
Malaysian tax on the same profits (limited to 50% of foreign tax in the
absence of a tax treaty), but the credit is limited to the amount of
Malaysian tax payable on the foreign income.
Participation exemption – No, but foreign-source income is not
taxable and domestic dividends are tax-exempt.
Holding company regime – An investment holding company (IHC) is
a company whose activities consist mainly of the holding of
investments and that derives no less than 80% of its gross income
(other than gross income from a source consisting of a business of
holding of an investment) from such investments. Generally, only
expenses falling within the definition of “permitted expenses” in the
tax legislation qualify for a tax deduction in respect of an IHC.
Incentives – A wide range of incentives are available for certain
industries, such as manufacturing, information technology services,
biotechnology, Islamic finance, energy conservation and
environmental protection. Incentives include tax holidays of up to 10
years (pioneer status); investment tax allowances (i.e. a 60% to 100%
allowance on capital investments made up to 10 years); accelerated
capital allowances; double deductions; and reinvestment allowances
(i.e. a 60% allowance on capital investments made in connection with
qualifying projects).
Withholding tax:
Dividends – Malaysia does not levy withholding tax on dividends.
Interest – A withholding tax of 15% applies to interest paid to a
nonresident, unless the rate is reduced under a tax treaty. However,
interest paid to a nonresident by a bank operating in Malaysia is
exempt from tax, except for interest accruing to the nonresident’
s
place of business in Malaysia and interest paid on funds required to
maintain “net working funds,” as prescribed by the Central Bank.
Certain other interest paid to a nonresident also may be exempt.
Royalties – A withholding tax of 10% applies to royalti
es paid to a nonresident, unless the rate is reduced under a tax treaty.
Technical service fees – A 10% withholding tax applies to technical
service fees paid to a nonresident for services performed in Malaysia,
unless the rate is reduced under a tax treaty.
Branch remittance tax – No
Surtax –NoAlternative minimum tax – A Labuan company carrying on a Labuan business activity may elect to pay a fixed amount of MYR 20,000, or to be taxed at 3% of the audited accounting profit.Foreign tax credit – Foreign tax paid may be credited against Malaysian tax on the same profits (limited to 50% of foreign tax in the absence of a tax treaty), but the credit is limited to the amount of Malaysian tax payable on the foreign income.Participation exemption – No, but foreign-source income is not taxable and domestic dividends are tax-exempt.Holding company regime – An investment holding company (IHC) is a company whose activities consist mainly of the holding of investments and that derives no less than 80% of its gross income (other than gross income from a source consisting of a business of holding of an investment) from such investments. Generally, only expenses falling within the definition of “permitted expenses” in the tax legislation qualify for a tax deduction in respect of an IHC.Incentives – A wide range of incentives are available for certain industries, such as manufacturing, information technology services, biotechnology, Islamic finance, energy conservation and environmental protection. Incentives include tax holidays of up to 10 years (pioneer status); investment tax allowances (i.e. a 60% to 100% allowance on capital investments made up to 10 years); accelerated capital allowances; double deductions; and reinvestment allowances (i.e. a 60% allowance on capital investments made in connection with qualifying projects).Withholding tax: Dividends – Malaysia does not levy withholding tax on dividends.Interest – A withholding tax of 15% applies to interest paid to a nonresident, unless the rate is reduced under a tax treaty. However, interest paid to a nonresident by a bank operating in Malaysia is exempt from tax, except for interest accruing to the nonresident’s place of business in Malaysia and interest paid on funds required to maintain “net working funds,” as prescribed by the Central Bank. Certain other interest paid to a nonresident also may be exempt.Royalties – A withholding tax of 10% applies to royalties paid to a nonresident, unless the rate is reduced under a tax treaty.Technical service fees – A 10% withholding tax applies to technical service fees paid to a nonresident for services performed in Malaysia, unless the rate is reduced under a tax treaty. Branch remittance tax – No
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