What are the available exemptions from personal income tax in Malaysia?
Below are other exemptions provided to individuals:
- Pension granted under written law or approved scheme
- Scholarship, grant or allowance, whether or not in connection with employment
- Maximum of RM2,000 a year for perquisite consisting of long service, past achievement, service excellence, innovation or productivity award
- Royalty of up to RM10,000 a year from publication of artistic work (other than paintings) and, recording discs or tapes
- Royalty of up RM20,000 a year from publication of literary work or original paintings
- Royalty of up to RM20,000 from musical composition, and
- Interest income from Malaysian registered financial institution.