Tax Planning

Tax Services

Corporate Income Tax (CIT) in Malaysia is a direct tax paid to the government and levied on resident and non-resident companies that derive income from Malaysia. The standard CIT rate in Malaysia is 24%.

Other corporate tax rates include the following (from YA2023):

Company Type	tax rate
Resident companies with paid-in capital not exceeding RM2.5 million and total business revenue not exceeding RM50 million	15% off the first RM150,000 17% off RM150,001 to RM600,000 24% off over RM600,000
Resident companies that do not directly or indirectly control another company with paid-in capital exceeding RM2.5 million
Resident companies not directly or indirectly controlled by another company with paid-up capital exceeding RM2.5 million
Resident companies (excluding the aforementioned companies)	24%
non-resident companies	24%

Malaysian companies must file a corporate income tax return within seven months of closing their accounts. Tax payable must be paid by the last day of the seventh month following closing. Companies must provide an estimate of their tax payable for the tax year within 30 days prior to the start of the assessment period. Newly incorporated companies with paid-up capital of RM2.5 million or less are exempt from providing estimates of their tax payable for two tax years.

Kindly contact us to explore tax planning solutions designed to support your business goals.

MSMC ASIA

#19-06 160 Robinson Rd, SBF Center, Singapore 068914