If you remember, we told you that earning from oversea and internet are not require to pay income tax in Malaysia. Today we will included all kinds of income which require you to pay income tax, if you are eligible to pay income tax.
Generally, all of your earning generated in Malaysia, you as a taxpayer will have to pay income tax. Those income included from:
- Business or Profession
- Employment
- Dividends
- Interest
- Discounts
- Rent (house rent, car rent, shop rent, Land rent and all other rents)
- Royalties
- Premiums
- Pensions
- Annuities
- Others
However, some of them like Dividends, Interest, Premium pay by banks, share, lotteries and so on are already deducted the tax, so you just declare them and don’t need to pay the tax again.
Tomorrow we will tell you which items can received tax exemption, this can help you to know and reduce your chargeable tax, if you know how to declare your income tax properly.