Learn more about understanding tax regulations to managing tax filings in Malaysia.
Which employees can benefit from special tax incentives?
Employees who are given special tax incentives: Iskandar Knowledge Worker The Iskandar knowledge worker program is designed to encourage development in the Iskandar region in Johor. An employee under the Iskandar knowledge worker program will be taxed at a flat rate of 15%. Qualification To qualify for the knowledge worker program an employee needs at least […]
How does an employee get their income tax number?
Previously employed If you were previously employed, you may already have a tax number. You can check via https://mytax.hasil.gov.my/ under e-Daftar, fill in their details, and click Search. Not registered If you do not have an income tax number yet, please register for one either by Filling in the Online (e-Daftar) which is accessible from […]
Which perquisites are tax exempt?
You are entitled to claim tax exemptions for the perquisites below, unless you have control over your employer. Benefit Details Childcare allowance in respect of children up to 12 years of age Tax exempt up to RM3,000 per year. Includes payment by the employer directly to the childcare provider. Parking rate or parking allowance Tax exempt […]
How do I submit form E?
Every employer, as well as every company regardless of whether they have employees or not, must submit form E to LHDN. Failure to do so will result in LHDN taking action against the company’s directors. Form E 2023 should be submitted by all companies and employers by 30 April 2024. The actual deadline is 31 […]
What tax deductions and rebates can be claimed in the year 2023?
Tax Deductions The following compulsory and optional tax deductions in the year 2023 are deducted from your annual taxable income to arrive at your annual chargeable income, based on which the amount of tax payable will be calculated. Employees can claim optional deductions by submitting form TP1 to their employer. The employer can then enter the tax […]
