Taxation by Yong Zheng Neo https://padlet.com/jasonneo999/u57i5owfblf3jphj en-us 2022-07-14 02:04:55 UTC 2026-02-17 23:26:57 UTC hello@padlet.com Tax Differences Between Malaysia and Thailand jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243028299 2022-07-14 02:09:39 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243028299 Allowance expenses jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243303292 2022-07-14 08:55:07 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243303292 Tax Rates https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243332671 2022-07-14 09:52:18 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243332671 Personal Income Tax https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333314 2022-07-14 09:53:23 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333314 Cooperation Income Tax https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333645 2022-07-14 09:54:00 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333645 Value- Added Tax & Sale and Service Tax https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333810

]]> 2022-07-14 09:54:30 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333810 Other Tax https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333922 2022-07-14 09:54:50 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243333922 Interest https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334410 Malaysia 15.5%
Thailand 15%]]> 2022-07-14 09:55:43 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334410 Royalties https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334475 Malaysia 10%
Thailand 15%]]> 2022-07-14 09:55:56 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334475 Dividends https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334550 Malaysia 0%
Thailand 10%]]> 2022-07-14 09:56:10 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243334550 Resident https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243337851 Malaysia: 0%-30%
Thailand: 0%-35%]]> 2022-07-14 10:05:46 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243337851 Non-Resident https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243338292 Malaysia: 28%
Thailand: Same as Resident]]> 2022-07-14 10:07:02 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243338292 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243400015 2022-07-14 12:46:44 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243400015 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243400939 2022-07-14 12:48:14 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2243400939 Malaysia jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244146895 -       Cars or household items provided for private use are valued at prescribed rates that could be lower than the actual cost incurred by the employer.
-       Rent-free accommodation provided by the employer is valued at the lower of 30% of the employee’s total cash remuneration or the actual rental value.
-       Medical treatment for employee and immediate family
-       Leave passage for travel for employee and immediate family. 
- Benefits for child care provided by the employer 
]]> 2022-07-15 13:36:47 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244146895 Employment expenses jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244154275 2022-07-15 13:51:00 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244154275 Charitable contributions jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244155033 2022-07-15 13:52:54 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244155033 Malaysia jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244156814 (All categories combined) Reduction of 10% of aggregate income:
-       Donation of money to approved institutions, organisations, or funds
-       Donation of money or cost of contribution in kind for any approved sports activity or sports body
-       Donation of money or cost of contribution in kind for any project of national interest approved by Ministry of Finance
-       Donation of money in the form of wakaf to any religious authorities, public universities; gift of money in the form of endowment to a public university

Reduction limited to RM20,000:
-       Donation of money for provision of library facilities or to libraries
-       Donation of money or medical equipment to any healthcare facility approved by the Ministry of Health

Reduction no limit:
-       Donation of money to the government, state government, or local authorities
-       Donation of artifacts, manuscripts, or paintings
-       Donation of money or contribution in kind for the provision of facilities in public places for the benefit of disabled persons
-       Donation of paintings to the National Art Gallery or any state art gallery ]]> 2022-07-15 13:55:41 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244156814 Malaysia jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160174 Three types of insurance/Coverage have 100% of premium claimable.

-       Life
-       Disability
-       Life/Education
]]> 2022-07-15 14:02:52 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160174 Malaysia puimmin https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160273 Sales Tax 10%
Service Tax 6%]]> 2022-07-15 14:03:00 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160273 Life insurance premium jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160358 2022-07-15 14:03:12 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244160358 Malaysia jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244162263 -       The deduction can help the taxpayer to claim the housing loan interest incurred as personal tax relief up to RM10,000 per year for 3 consecutive years of assessment from the year of assessment in which the loan interest is first expended.]]> 2022-07-15 14:05:27 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244162263 Mortgage interest expenses jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244162372 2022-07-15 14:05:42 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244162372 Malaysia jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163528 -        There is a personal allowance of MYR 9,000 for each taxpayer and MYR 4,000 for taxpayer's spouse (under joint assessment).

-        There is an allowance for MYR 2,000 each child below 18 years of age and allowances of MYR 8,000 if child over 18 years old who is receiving full-time instruction at an establishment of higher education in Malaysia (diploma level or above) or outside Malaysia (degree level and above) or serving under article of indentures in a trade or profession.
]]> 2022-07-15 14:07:07 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163528 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163709 Employment income allows a standard deduction of 50% up to a maximum of THB 100,000.]]> 2022-07-15 14:07:32 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163709 Personal allowances jasonneo999 https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163745 2022-07-15 14:07:37 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244163745 Malaysia puimmin https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244165001 2022-07-15 14:08:58 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244165001 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244169358 Deduct up to 10% of net income from the donation amount:

1. Donate to educational institutions, public health care institutions, religious institutions and approved charities.

2. Donate to support correcting COVID-19 issues and also support vaccine research, development, production, and distribution.

Double deductible up to 10% of net income:

1. Donate to support education and state hospital.

2. Cash donations to political parties to support political party fundraising activities. (maximum THB 10,000)]]> 2022-07-15 14:18:40 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244169358 Malaysia puimmin https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244170176 Resident: 24%
Non-Resident:24%]]> 2022-07-15 14:20:16 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244170176 Special one-off tax 2022 puimmin https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244171282 2022-07-15 14:22:10 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244171282 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244175494 Life insurance premiums paid by the taxpayer for themselves do not exceed THB 100,000.

The taxpayer's non-income spouse's life insurance premium can be up to THB 10,000. 

]]> 2022-07-15 14:28:56 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244175494 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244176747 Interest on the purchase or construction of a home in Thailand ( max THB 100,000)]]> 2022-07-15 14:30:55 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244176747 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244178350 THB 60,000 each for the taxpayer and the taxpayer’s spouse together.

THB 30,000 allowance per child and an additional THB 30,000  for the second child born in 2018 or later.

A nursing allowance of THB 30,000 is deducted per parent.

A deduction of THB 60,000 per person for caring for disabled or incapacitated persons.]]> 2022-07-15 14:34:05 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244178350 Expenses for antenatal care and child delivery https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244181426 2022-07-15 14:40:17 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244181426 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244182784 A maximum of THB 60,000 per pregnancy can be deducted for prenatal care and delivery expenses paid by the taxpayer or spouse.]]> 2022-07-15 14:42:12 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244182784 Retirement mutual fund contribution and Super savings fund investment https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244183789 2022-07-15 14:44:41 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244183789 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244183905 Contributions to funds are deductible up to 30% of the taxable income subject to income tax

maximum of THB 500,000 in retirement mutual fund contribution 

maximum of THB 200,000 in super savings fund investment]]> 2022-07-15 14:45:03 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244183905 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244207221 Value-added tax (VAT) 10%
reduced to 7% until 30 Sept 2023]]> 2022-07-15 15:39:58 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244207221 Stamp duty https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244386928 2022-07-16 02:38:12 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244386928 Malaysia https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244387545 2022-07-16 02:40:35 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244387545 Thailand https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244387785 from THB 1 per THB 1,000 of value on most contracts and agreements to a fixed amount per instrument on most commercial and other documents.]]> 2022-07-16 02:41:35 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244387785 Custom duty https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244390195 Malaysia 2%-60%
Thailand 0%-80%]]> 2022-07-16 02:50:41 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244390195 Inheritance tax https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244390389 Malaysia -
Thailand 10%]]> 2022-07-16 02:51:27 UTC https://padlet.com/jasonneo999/u57i5owfblf3jphj/wish/2244390389