The government’s agreement to exempt dividend incomes earned by limited liability companies and partnerships will enhance investment by encouraging foreign-sourced dividend incomes to be remitted into Malaysia, said Chartered Tax Institute of Malaysia .
“The government’s agreement to exempt dividend incomes earned by limited liability companies and partnerships is welcomed,” she said. The FSI tax exemption would be effective from Jan 1, 2022 until Dec 31, 2026 for a period of five years, MoF said. She noted that the FSI exemption will be given to all individuals, except those in a partnership business in Malaysia, while for non-resident taxpayers -- individuals, companies, and others -- they remained exempted from income tax under Paragraph 28, Schedule 6 of the Income Tax Act,1967.
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