I believe a lot of people staying in Malaysia is wondering whether they have to pay tax for money they earn via website example selling product at Ebay, Goggle Adsense, online trading etc. Prior to 2001, all income which comes from outside Malaysia will be tax. After the new ruling, all income from international are tax exempt. It is to encourage Malaysian to bring oversea money into Malaysia.
But it must fulfill these requirements :
1) The source of money must from outside Malaysia (Adsense, Ebay )
2) The customers must be outside Malaysia
For website based income, this is the incentive.
Para 13. Tax Incentives For Offshore Trading Via Websites
Income received by companies undertaking offshore trading via websites in Malaysia will be taxed at a concessionary rate of 10% for a period of 5 years, on condition it is approved by the Minister of Finance. Income after tax distributed to shareholders is also exempted from tax.
Source : MATRADE - Malaysia External Trade Development Corporation
Cheers!
Bernard
www.BernardHay.com
www.RealSmarTeens.com
1 comment:
Hi Adam, do we meet before?
Where are you from?
Bernard
www.BernardHay.com
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