Updated: Mar 25
If your company (Sdn. Bhd. or LLP) has non-Citizen shareholder, you may need to watch out for this "new" (Budget 2023) changes.
Follow the Budget 2023, Finance Bill 2023 is now presented to Parlimen - First Reading. https://www.parlimen.gov.my/files/billindex/pdf/2023/DR/DR%204_2023%20-%20BI.pdf One item worth highlight here...
Not entitle for SME rate (i.e. 15% or 17%) if the company (Sdn Bhd, as well as LLP) has 20% shareholdings/interest by non citizen of Malaysia. i.e. will be taxed at 24%
For Sdn. Bhd. - 20% of the paid up capital
For LLP - 20% of the capital contribution