As March rolls around, Malaysia’s tax season for 2024 kicks off with a bang, marking the beginning of e-Filing submissions for the 2023 year of assessment (YA 2023) by the Inland Revenue Board (IRB) or Lembaga Hasil Dalam Negeri Malaysia (LHDN). For those whose yearly earnings soared pa...
Applications received from 14.10.2023 until 31.12.2027 Global Services Hub tax incentive based on outcome-based approach on service income, or services & trading income as follows: New company • Income tax rate of 5% (Tier 1) or 10% (Tier 2) 5+5 Existing company • Income tax rat...
respectively. But most important of all is the “User Manual” tab, where LHDN has archived its manuals, which you can refer to whenever you need any clarification on how to use key services on MyTax. These
Do you know how to figure out your income tax rate, add up your tax reliefs, and calculate your tax refund? Have you registered as a taxpayer with LHDN, logged yourself into e-Daftar, and familiarised yourself the right e-Borang to fill? Do you even know what any of these income ...
They are for the most part the same thing, as they both allow you to reduce your Chargeable Income (that is, before you even start looking at tax rate tables). In fact most people worldwide use both terms interchangeably, and LHDN goes one step further and classifies Tax Deductions as a...