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Rental income tax is high in Malaysia

Rental Income: The net rental (and other) income of nonresidents is taxed at a flat rate of 26%, without any personal relief.

Capital Gains: Disposals of Malaysian real property held for less than five years are subject to real property gains tax (RPGT) at a flat rate of 5%, effective 01 January 2010.

Inheritance: No inheritance or gift taxes are levied in Malaysia.

Residents: Residents are taxed only on their Malaysian-sourced income at progressive rates, from 1% to 26%.

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Comments

#1 JONATHAN | August 30, 2010

Dear Sir,
I am a Malaysian. I have a capital gain investment in UK since 2006. Right now the money is about coming in from UK.Bank wire to Malaysia Bank. Will i have to pay any tax for my investment? I consulted the income-tax department officer as the above status, she told me that it won't be any tax if it is legal from oversea from the legal document provided. Is it true?
Thanks in advance.
jonathan

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