Taxation in Malaysia Quiz

A tax is a financial charge imposed by the government to fund: a. Private business investments b. Public services and infrastructure c. Foreign trade d. None of the above

• Private business investments

• Public services and infrastructure

• Foreign trade

• None of the above

Which legislation governs taxation rules in Malaysia?

• Companies Act 2016

• Penal Code

• Income Tax Act 1967

• Goods and Services Tax Act

An example of direct tax in Malaysia:

• Sales Tax

• Income Tax

• Excise Duty

• Customs Duty

Which source of income is generally taxable in Malaysia? These are sources of income that are generally taxable in Malaysia, EXCEPT

• Income earned outside Malaysia

• Income remitted to Malaysia by individuals

• Income arising in Malaysia

• All global income

Which tax objective focuses on reducing the gap between the rich and poor?

• Revenue Generation

• Economic Stability

• Redistribution of Wealth

• Regulation of Economy

A non-resident in Malaysia is taxed on:

• All global income

• Income from Malaysian sources only

• Income from non-Malaysian sources

• None of the above

What is the withholding tax rate for non-residents under special classes of income?

• 5%

• 10%

• 15%

• 20%

Resident status in Malaysia requires presence for:

• At least 90 days in a year

• At least 182 days in a year

• At least 120 days in a year

• None of the above

Temporary absences from Malaysia do not break resident status if the reason is:

• Business trips

• Medical treatment

• Social visits (up to 14 days)

• All of the above

The resident status of a company is determined based on:

• Place of incorporation

• Place of management and control

• Shareholder nationality

• Revenue generated