Malaysia legislation
Section 24
Section 24
Amendment of Schedule 1
(a)
in Part 1—
(i)
by substituting for paragraph 1 the following paragraph:
“1. Except where paragraphs 1a, 2, 2a, 2d, 3 and 4
provide otherwise, income tax shall be charged for a year of assessment upon the chargeable income of every person at the following rates:
Chargeable income
RM
Rate of
Income Tax
For every ringgit of the first 5,000 0 per cent
For every ringgit of the next 15,000 1 per cent
For every ringgit of the next 15,000 5 per cent
For every ringgit of the next 15,000 10 per cent
For every ringgit of the next 20,000 16 per cent
For every ringgit of the next 30,000 21 per cent
For every ringgit of the next 150,000 24 percent
For every ringgit of the next 150,000 24.5 per cent
Finance 19
Chargeable income
RM
Rate of
Income Tax
For every ringgit of the next 200,000 25 per cent
For every ringgit of the next 400,000 26 per cent
For every ringgit exceeding 1,000,000 28 per cent”; and
(ii)
in paragraph 1a, by substituting for the words
“25 per cent” the words “28 per cent”; and
(b)
in Part X in subparagraph 1(b), by substituting for the words “26% of gross for the year of assessment 2008 and 25% of gross for the subsequent years of assessment”
the words “24% of gross for the year of assessment 2016 and subsequent years of assessment”.
Amendment of Schedule 3