KUALA LUMPUR: The government has agreed to exempt taxation on foreign source income for resident taxpayers to ensure the smooth implementation of the tax initiative, said the Finance Ministry (MoF).(pic)
The tax exemption is effective from Jan 1, 2022 to Dec 31, 2026.
Subject to Inland Revenue Board criteria and guidelines, income tax exemption on dividends will be given to companies or limited liability partnerships while individuals will be tax-exempted for all types of income.
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