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- One of the fastest
growing economies in the region (+7% est.)
- British
legal system, property laws and environment.
- Effective
Land Registry and transparency in property transactions
- Capital
gains on real property are less than 5% after 5
years
- Malaysian government actively seeking to promote
overseas purchasers
- High quality development
properties in prime areas available
- Strategic location
- close to Australia, Bali and Singapore
- Wonderful
climate and food. Superb golf and sports facilities
Currency
The unit of currency is Malaysian Ringgit indicated
as RM. USD1 is roughly equivalent to RM3.80. Foreign
currency can be converted at banks and money changers.
Taxation
Generally, all income of companies and individuals
accrued in, derived from or remitted to Malaysia
is liable to tax. However, income remitted to
Malaysia by resident companies (other than companies
carrying on the business of banking, insurance
or air and sea transportation), non-resident
companies and non-resident individuals is exempt
from tax. Expatriates who settle in Malaysia
under the Malaysia My Second Home programme are
not required to pay tax on their pension or other
income derived from overseas. Income tax is assessed
on income earned in the current year.
Apart from income tax, there are other direct taxes
such as real property gains tax, and indirect taxes
such as sales tax, service tax, excise duty and
import duty.
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