What is VAT? Value Added Tax is imposed on supplies of goods and services made inside the country, with a few exceptions. VAT is applied at different stages of the supply of a product or service. The Zakat, Tax and Customs Authority (ZATCA) has a standard VAT rate of 5% for the supp...
Parental care and child education reliefs– Tax residents supporting elderly parents or paying for children’s education in Malaysia may be eligible for reliefs. Zakat contributions– Muslim expatriates in Malaysia can deductzakat (Islamic tax) contributionsfrom their taxable income, reducing overall tax ...
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Only those who are eligible can pay or receive Zakat, while any Muslim can pay or receive Sadaqah. Zakat is 2.5% of your wealth, while a Muslim giving Sadaqah can pay as much or as little as they would like. Sadaqah Jariyah and Sadaqah have ongoing rewards after you die, but Zakat is...