Malaysia Tax Agency Posts FAQs on Taxation Under Special Income Remittance Program

The Malaysian Inland Revenue Board Dec. 17 posted online FAQs on the special income remittance program for residents who bring foreign income to Malaysia, applicable from Jan. 1, 2022, through June 30, 2022. Topics covered include: 1) a 3 percent tax rate on the income; 2) the entities and types of income eligible under the program; 3) the procedure for taxpayers to join the program; 4) clarifications on tax reporting and claiming tax credits and deductions; and 5) the tax payment procedure. [Malaysia, Inland Revenue Board, 12/17/21]

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