Last updated: 24 May 2012
Taxation
Malaysia and Australia have signed an Avoidance of Double Taxation agreement.
All income of companies and individuals accrued in, derived from or remitted to Malaysia are liable to tax. Exemptions are made to income remitted to Malaysia by resident companies (other than companies involved in banking, insurance, air and sea transportation),non-resident companies and non-resident individuals.
Tax rates applicable include:
- company tax
- personal tax
- withholding tax
- real property gains tax
- sales tax
- service tax
- import duty
- excise duty
- double taxation
In addition, Malaysia offers a wide range of tax incentives.
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.
APEC Business Travel Card Scheme
Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.