Released January 2020
Personal Income Tax Rate Update
Tax calculations have been updated to comply with the new changes as announced in Malaysian Budget 2020.
- A new chargeable income band now introduced for resident individual with income exceeding RM 2 million.
- The fixed income tax rate for non-resident individuals is increased from 28% to 30% with effect from YA 2020.
Tax relief updates
Personal Income Tax Relief changes for the Year 2020 include:
- Medical expenses relief for self, spouse or child suffering from a serious disease has been extended to include the fertility treatment, total relief amount remains RM6,000.00
- Fees Paid To Child Care Centres/Kindergartens has been increased
- Rebate for departure levy on performing umrah and other Islamic religious has been included in Zakat relief