Cost of doing business in Malaysia

Costs of Doing Business

Taxation

Generally, all income of companies and individuals accrued in or derived from sources outside Malaysia and received in Malaysia is liable to tax. However, income remitted to Malaysia by resident companies (other than companies carrying on the business of banking, insurance, air and sea transportation), non-resident companies and non-resident individuals are exempted from tax. From the year 2000, income tax in Malaysia is assessed on income earned in the current year. The assessment system will be changed to a self-assessment system in stages starting 2001. Effective from the year of assessment 2004, income remitted to Malaysia by a resident individual is exempted from tax.

Company Tax
Resident and non-resident companies	25%
Resident companies with paid-up capital of RM2.5 million (US$754,375) and less at the beginning of the basis period for a year of assesment
- on the first RM500,000 (US$150,875) chargeable income	20%
- on subsequent chargeable income	25%

Petroleum Income Tax

A person who signed Petroleum Agreement with Petronas or Malaysia-Thailand Authority and carry out petroleum operation. "Person" includes a company, a partnership or other body of person and corporate sole. "Petroleum operations" means searching for, winning or obtaining of petroleum in Malaysia (by drilling, mining, extracting etc), all operations incidental thereto and sale or disposal of petroleum so won or obtained, transportation within Malaysia of petroleum so won or obtained to any point of sale or export but excludes transportation outside Malaysia; refining or liquefing; dealing with products so refined or liquefied; service involving the supply and used of rigs, derricks, ocean tankers and barges. 38%

Personal Income Tax

Resident individuals with chargeable income of RM16,667(US$5,029) and above per annum (after deduction of personal reliefs) 1% - 27% Non-resident individuals (not entitled to any personal reliefs) 27%

Withholding Tax

Non-resident persons • Special classes of income (use of moveable property, technical services, installation services on the supply of plant and machinery, etc.) 10% • Interest 15% • Royalty 10% • Contract payment on: - account of contractor - account of employee Other income such as commission, guarantee fees, agency fees, brockerage fees, introducers fees, etc. 10% 3% 10%

Source:

Inland Revenue Board - www.hasil.org.my

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YOUTH'10 Festival

YOUTH'10 - Malaysia's largest youth festival. So what's in store for YOUTH'10? It begins with the fundamentals: How youths engage with brands, leaders, government and society. The festival has proven - that with this level of collaboration, anything can happen.

Link for free pass for Youth '10 Festival
http://malaysia.youthsays.com/aliffmazlan/youth10

Kes Adik Aminul Rasyid

Kenapa orang melayu nie bangang sangat...sape yang salah sebenarya dalam kes ni..kenape pemandu lari daripada polis...x boleh berhenti ke? takut ngan polis sgt kenape? ada lesen ke xde lesen? xde lesen tu salah ke x? jawab tu baru boleh nak salahkan tembak-tembak nie...kes jenayah meningkat...kalau x betindak cepat jadi kes lain...polis jugk yang kena...nanti kate polis x buat kerja...fikir la sendiri....tapi satu jela...jgn la tembak sampai mati...

Kejatuhan Melayu

Saya hairan btul bila melihat masyarakat melayu islam khasnya pada hari ini. Inilah yang dikatakan akhir zaman. Judi jadi halal. X pakai tudung halal. Buka aurat halal. Minum arak halal...Senang citer haram jadi halal halal jadi haram...Buta ke semua...x nampak ke kebesaran Allah s.w.t....Pemimpin-pemimpin pulak dengan rasuah. Rakyat di biarkan menderita. Bangkitlah Rakan-rakan ku....sedarlah sebelum terlambat....jangan biarkan kita seperti indon dan singapore...jangan biarkan kita seperti palestin....bangkit perjuangkan ISLAM yang hakiki...bangkit perjuangkan agama ALLAH s.w.t...