KUALA LUMPUR (Dec 30): The Inland Revenue Board (IRB) has announced additional tax exemption eligibility requirements for eligible taxpayers with overseas dividend income received in Malaysia from Jan 1, 2022 to Dec 31, 2026. The dividend income abroad must comply with the substantive economic conditions, it said in a statement on Dec 30. IRB said the amendment of this provision is to provide equitable tax treatment on the foreign income with the income accrued in or derived from Malaysia in line with the country’s commitment towards compliance with international tax best practices. For individuals: the income (all types of income except partnership income) has been subjected to tax in the country of origin. In accordance with these additional terms, amendments to the Treatment Guidelines Tax Related to Income Received from Abroad have been uploaded to HASiL Official Portal on Dec 29, 2022 and Guidelines dated Sept 29, 2022 are cancelled.

Source: The Edge Markets December 30, 2022 07:22 UTC