Tax & Accounting
CST Tax Advisors
CST Tax Advisors is a reputable tax and accounting firm with a wealth of industry knowledge and experience helping expats move around the globe.
With a highly professional team of Chartered Accountants and abundance of experience in managing cross-border tax affairs, CST Tax Advisors is perfectly positioned to provide you assistance with tax and accounting matters while in Kuala Lumpur.
CST Tax Advisors assists expats in:
- Professional accounting
- Personal and business tax
- Cross-border taxation advice
Tax & Accounting for Expats in Kuala Lumpur
There are a lot of advantages to moving to Kuala Lumpur, however, navigating the tax environment can prove challenging. Malaysia has a fairly complicated progressive tax system. To get a full understanding of your financial obligations it’s best to seek professional help from a reputable tax advisor.
Key Tax & Accounting tips you should know as an expat in Kuala Lumpur
- Expats who work in Kuala Lumpur for less than 60 days qualify for a tax concession that sees them exempt from paying income tax
- If you are not a tax resident and your period of employment exceeds 60 days, you will be taxed at a flat rate of 26% on all your income from Malaysian sources.
- If you work in Malaysia for more than 182 days a year, you become a tax resident and pay progressive tax rates and become eligible for tax deductions.
- Malaysia’s progressive personal income tax system starts at 0% for up to RM5,000 earned, to a maximum of 28% for an annual income of over RM1 million.
- Malaysia has Double Taxation Agreements with 70 countries, it’s recommended to consult a reputable tax advisor to effectively manage your taxes internationally and benefit from tax exemptions or allowances based on your position.
Tax & Accounting for expats establishing a business in Kuala Lumpur
- The standard corporate tax rate in Malaysia is 24%, however other rates may apply depending on certain conditions.
- Your company will be a resident of Kuala Lumpur if its management and control are exercised in Malaysia.
- Only your income derived form your company in Malaysia is taxed. Foreign-sourced income is not taxable unless you are carrying on a business in the banking, insurance, air transport or shipping sectors.
- There are a number of tax incentives available for certain industries. It’s best to get professional advice to ensure you are claiming all eligible allowances.
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