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Q: If a Malaysian company’s paid-up capital is not more than RM2.5 million and its annual gross business income is not more than RM50 million, but is 100% owned by foreigners who are permanent residents of Malaysia, will the company still enjoy the preferential tax rates of 15% and 17%? 

A: With effect from Year of Assessment 2024, if more than 20% shares of a Malaysian company is directly or indirectly owned by foreigners, the company will no longer enjoy the preferential tax rates.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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