Please enable JavaScript.
Coggle requires JavaScript to display documents.
CORPORATE TAX (COVERAGE (Tax Computation (Formally known as '…
CORPORATE TAX
COVERAGE
Tax Computation
Formally known as 'TAXCOMP'
Computation based on every Year of Assessment
Rate of income tax is depending on the types of the company
Self Assessment System for Company
The obligation of the company as the tax payer.
RATE OF INCOME TAX
First RM500000 (17%), Balance (24%)
Resident company incorporated in Malaysia
Ordinary share capital < RM2.5 million at the first day of the basis period for year of assessment
Tax rate does not apply to a company if more than :
50% of the paid-up capital in respect of ordinary shares is owned directly or indirectly by a related company.
50% of the paid-up capital in respect of the related company is directly or indirectly owned by an SME
50% of the paid-up capital in respect of an SME and the related company is directly or indirectly owned by another company.
Flat rate (24%)
Resident company incorporate in Malaysia.
Ordinary share capital > RM2.5 million at the first day of the basis period for year assessment.
FORMAT