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Updates of Individual Tax Rate for Year 2023
Here is the table for resident individual from year 2023 onwards ChargeableIncome (RM) Calculation Percentage(%) Tax (RM) 0 – 5,000 First 5,000 0 0 5,001 – 20,000 First 5,000Next 15,000 1 0150 20,001 – 35,000 First 20,000Next 15,000 3 150450 35,001 – 50,000 First 35,000Next 15,000 6 600900 50,001 – 70,000 First 50,000Next 20,000 11…
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ACA for small value assets
As a business owner, do you know you are given the right to claim capital allowances on assets when computing your tax computation? Every assets that you own and used in the production of your business gross income will enjoy different rate of capital allowance as follows: Type of assets Initial Allowance Annual allowance Plant…

