Need Confirmation Regarding Tax Rates For Foreigner

Last activity 31 October 2013 by PersonalTaxAdvisor

2093 Views

4 replies

Post new topic

raunakkathuriaMember04 December 2012 03:48:06

Hi

I am offered job in Malaysia for around 7500 MYR per month with experience of 4+ years. Is salary as per company standards?

I also want to inquire about the tax rate, as I am offered a 1 year contract even then will I have to pay 26% tax for first 6 months?
As it is one year contract I will be considered as Resident from starting in terms of tax rates or Non-Resident for first 6 months then resident thereafter.

ArmandViP04 December 2012 09:04:52

24785

Hi raunakkathuria!

Welcome to Expat.com!

Armand

NemodotViP05 December 2012 10:01:42

2119

It isn't complicated. The flat rate of 26% lasts 6 months. Then you are resident and taxed as a Malaysian. In March after tax year (Jan-Dec) you claim back over taxed amount. It is very quick and simple online

ZlobaNew member07 December 2012 10:51:48

The way I was told, the fiscal year ends in March, then you can claim your tax difference, and it will take 3-4 months for the tax return. So if you start working in January 2013 you will see your money in 1.5 years.

PersonalTaxAdvisorNew member31 October 2013 08:39:27

Too brief of information on your problem. Need to know when is your first day of your arrival. Tax is calculated in year to year basis. You maybe resident status in one year but maybe not in subsequent year.

raunakkathuria wrote:
Hi

I am offered job in Malaysia for around 7500 MYR per month with experience of 4+ years. Is salary as per company standards?

I also want to inquire about the tax rate, as I am offered a 1 year contract even then will I have to pay 26% tax for first 6 months?
As it is one year contract I will be considered as Resident from starting in terms of tax rates or Non-Resident for first 6 months then resident thereafter.

Articles to help you in your expat project in Kuala Lumpur

The tax system in Malaysia
If you plan to move to Malaysia, you will need to consider several taxes and draw up a budget to get a better idea ...
Taxes in Malaysia
An individual is taxed on his chargeable income at graduated rates from 2 % to 30% after the deduction of tax ...
Year end tax checklist
As personal reliefs claim will reduce your chargeable income, it is a good time to check your qualifying tax ...
Kuala Lumpur's neighbourhoods
Kuala Lumpur is a real megalopolis, surrounded by suburbs and neighborhoods so different from each other that they ...
Buying property in Kuala Lumpur
When you plan to move to another country or another city, your first concern is undoubtedly where you are going to ...
Getting around Kuala Lumpur
One of the advantages of moving to Kuala Lumpur when settling in Malaysia is the quick access to many facilities ...
Universities in Kuala Lumpur
Kuala Lumpur is ranked second in the world in terms of affordability of higher education. The city is a thriving ...
Accommodation in Kuala Lumpur
The city of Kuala Lumpur offers a wide range of accommodation options. Many expats opt for luxury condominiums or ...