Taxation

Income tax

There is no tax on any overseas income remitted to Malaysia, including pensions. Any income you earn in Malaysia is subject to tax. Currently, the maximum rate of income tax for individuals is 28 per cent. Any rental income from property in Malaysia owned by non-residents is taxed at this maximum rate.

The interest on any number of fixed deposits of RM100,000 (£16,000) or less, held in a Malaysian registered bank, is also tax free.

Capital gains tax

Capital gains tax on the sale of property was removed  on April 1, 2007.

Inheritance tax

There is no inheritance tax in Malaysia.