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Summaries of Corporate Income Tax (CIT)

For both resident and non-resident companies, corporate income tax (CIT) is imposed on income accruing in or derived from Malaysia. The current CIT rates are provided in the following table:

* For years of assessment 2017 and 2018, CIT is reduced based on the incremental chargeable income for companies, limited liability partnerships, trust bodies, executor of estate of an individual domiciled outside Malaysia at the time of death, and receiver appointed by the court. The rates as follows are applicable:

Petroleum income tax

Petroleum income tax is imposed at the rate of 38% on income from petroleum operations in Malaysia. An effective petroleum income tax rate of 25% applies on income from petroleum operations in marginal fields. No other taxes are imposed on income from petroleum operations.

Local income taxes

There are no other local, state, or provincial government taxes on income in Malaysia.

(Credit to Malaysia Corporate Income Tax, PwC)

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