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Tax in Malaysia

Your personal tax guide for Malaysia

The content in this tax guide is provided by EY.

Going to or leaving Malaysia

Local tax information for Malaysia
Local information Details

Tax authority

The Inland Revenue Board of Malaysia (IRBM)

Website

www.hasil.gov.my

Tax year

1 January to 31 December

Tax return due date

30 April (or 30 June if individual has business income)

Is joint filing possible

Yes

Are tax return extensions possible

No

Local tax information for Malaysia
Local information

Tax authority

Details

The Inland Revenue Board of Malaysia (IRBM)

Local information

Website

Details www.hasil.gov.my
Local information

Tax year

Details

1 January to 31 December

Local information

Tax return due date

Details

30 April (or 30 June if individual has business income)

Local information

Is joint filing possible

Details

Yes

Local information

Are tax return extensions possible

Details

No

2024 income tax rates for residents

Taxable income band MYR Tax rate
0 to 5,000 0%

5,001 to 20,000

1%

20,001 to 35,000

3%

35,001 to 50,000

6%

50,001 to 70,000

11%

70,001 to 100,000

19%

100,001 to 400,000

25%

400,001 to 600,000

26%

600,001 to 2,000,000

28%

2,000,001+ 30%
Taxable income band MYR 0 to 5,000
Tax rate 0%
Taxable income band MYR

5,001 to 20,000

Tax rate

1%

Taxable income band MYR

20,001 to 35,000

Tax rate

3%

Taxable income band MYR

35,001 to 50,000

Tax rate

6%

Taxable income band MYR

50,001 to 70,000

Tax rate

11%

Taxable income band MYR

70,001 to 100,000

Tax rate

19%

Taxable income band MYR

100,001 to 400,000

Tax rate

25%

Taxable income band MYR

400,001 to 600,000

Tax rate

26%

Taxable income band MYR

600,001 to 2,000,000

Tax rate

28%

Taxable income band MYR 2,000,001+
Tax rate 30%

Non-residents are subject to withholding taxes on certain types of income. Other income is taxed at a rate of 30%.

If a Malaysian or foreign national “knowledge worker” resides in the Iskandar Development Region and is employed in certain qualifying activities by a designated company and if their employment commences on or after 24 October 2009 but not later than 31 December 2022, the worker may apply to be subject to tax at a reduced rate of 15%. The individual must not have derived any employment income in Malaysia for at least three years before the date of the application.

Similarly, employment income earned by an individual who is a knowledge worker (Malaysian citizen or foreign national) residing within the East Coast Economic Region (ECER) and is employed in any business activity carried out within the MalaysiaChina-Kuantan Industrial Park by a designated company is taxed at 15% of his or her chargeable income from 1 January 2022. The above applies to a qualified person who has been granted approval by the Minister on an application made on or after 1 January 2022 but not later than 31 December 2024. It is a requirement that the qualified person has not derived employment income from a designated company in ECER for at least two years or other period as determined prior to the application of this incentive.

Malaysian professionals returning from abroad to work in Malaysia would be taxed at a rate of 15% for the first five consecutive years following the professional’s return to Malaysia under the Returning Expert Programme (REP).

Expat Tax Guides

Read tax guides for expats provided by EY.

Additional information

piggy-bank

Should you get an offshore bank account?

An offshore account can be useful for expats looking to keep some money in a central location, rather than one specific country or region.

 

Our Expat Bank Account is an offshore account that comes with a range of benefits. These include a Global Money Account to make quick and easy payments across borders, a relationship management service to help you and your family manage your money and online and mobile access so you can take care of your banking, FX and investments wherever you are.

 

You can set your account up in USD, EUR or GBP and you can hold it alongside other accounts in the country you're leaving or the one you're moving to.

The content under 'Should you get an offshore bank account?', including 'Explore Expat Bank Account', is provided by HSBC Expat.

The Tax Navigator section is provided by EY in accordance with their Terms and Conditions (PDF). EY accepts no responsibility for the accuracy of this information. By using this information, you are accepting the terms under which EY is making the content available to you based on the legislation and practices of the country concerned as of 1 September 2023 by EY and published in its Worldwide Personal Tax Guide, 2024-25.

Tax legislation and administrative practices may change, and this content is a summary of potential issues to consider. This content is provided for guidance purposes only; it is not meant for direct implementation of transactions or reliance upon when considering entering into transactions. It should not be used as a substitute for professional tax, legal, financial, accounting, consulting, regulatory or other professional advice and you should seek professional advice before taking any action. It is your responsibility to ensure you make all relevant disclosures to the relevant tax authorities and that you are compliant with local tax legislation. EY accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material.

HSBC accepts no responsibility for the accuracy of this information.

This information does not constitute advice and no liability is accepted to recipients acting independently on its contents. The views expressed are subject to change.

You might also be interested in

 

Opening an offshore account, can be an effective way to save, invest and manage money while abroad.

 

Steps to build a better financial future abroad.

 

Read our 10-step guide to moving abroad to make sure you've got everything covered.

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