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289 words | 2 min reading time | 26/7/2022
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| 🎉100% HRDF Claimable!
Seize the chance and grab your seat!🎉
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What do you know about Withholding Tax?
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It is required when a Malaysian tax resident makes certain types of payments to a non-tax resident. This may include the right to use the software.
For example, withholding tax must be credited when purchasing Microsoft 365 because Microsoft is a non-tax resident.
A Malaysian resident is also liable for making payment for the rent of movable property to a non-resident person (NR Payee).
In other words, he or she should deduct withholding tax at the prescribed rate from such payment and pay tax to the Inland Revenue Board of Malaysia within one month after such payment has been made to the NR payee.
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With effect from 17 January 2017, the scope of royalty has been expanded to include the following:
✅ The use of, or right to use software, the receipt of, or the right to receive visual images or sounds transmitted to the public by satellite or cable, fibre optic, or similar technology.
✅ The use of, or the right to use visual images and/or sound in connection with broadcasting by satellite or cable, fibre optic, or similar technology.
✅ The use of, or the right to use some or all of licensed radio frequency spectrums. |
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If you fail to pay the withholding tax on time (not within one month after the date of payment / crediting to the NR payee), you will be fined an additional 10% of the amount which you failed to pay！
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Still unsure about the prescribed tax rate
and procedures of withholding tax?
Join us for 《Withholding Tax Webinar》 where, during it, we will share the latest developments on withholding tax and practical tips in determining whether a payment is subjected to Malaysian withholding tax.
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1. Special classes of income
- Special classes of income on which tax is chargeable
- Derivation of special classes of income
- Deduction of tax from Special classes of income
2. Royalty
- Definition of royalty
- Derivation of royalty income
- Deduction of tax from royalty
- Exemptions from withholding tax on royalty payments under statutory orders
3. Interest
- Section 15 - Derivation of interest income
- Section 109 - Deduction of tax from interest
4. Gain or profit under Sec 4(f)
5. Public entertainer
- Definition of public entertainer
- Deduction of tax from remuneration to public entertainer
6. Contract payment
- Consequences for non-compliance
- Double tax agreements
- Withholding tax payment type
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| Date | Time | Language | Platform |
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Date: 4 August 2022 (Thurs)
Time: 2.00PM - 6.00PM
Language: English
Platform: By Zoom |
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Original Price: RM 498
Promotion Price：RM 298
Limited Seats! Register Now!
HRDF Claimable
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| YYC is a proud recipient of the Malaysian Brand. |
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YYC Group
Empowering business owners to grow their businesses for 48 years
●Audit & Assurance ●Tax Advisory ●Business Advisory
●Accounting & Bookkeeping ●Company Incorporation ●Payroll Outsourcing ●Digital Marketing
HQ: No.32 & 34, Lorong Thambi 2, off Jalan Brunei, 55100 Kuala Lumpur.
Tel: +6019-368 6868 / +6010-221 5045 / +603-9078 2868
Email : contact@yycadvisors.com
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You're receiving this email because you have participated in a YYC event or have contacted a YYC personnel. You will receive updates on latest information related to Tax, Audit, Accounting and other areas affecting business growth in Malaysia. The newsletter is for information purpose only. The Information contained in the newsletter is believed to be reliable but
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