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How many of you trying your best to avoid ATM that’s different from your bank card so that you won’t be charged RM1 for a withdrawal? Being Malaysians, we always find a way to pay less or perhaps not paying at all. Then why don’t you do the same with taxes? In Malaysia, there are ways to reduce the amount of payable tax by maximising your income tax refund. Perhaps most of you are already familiar with tax reliefs. But there are also tax deduction, tax exemption and tax rebates which function differently but serve the same purpose which is[…]

Another sign of adulthood that no one’s ready for is no doubt paying taxes. In Malaysia, filing for income tax is compulsory by law. The amount of tax that you need to pay varies depending on your annual chargeable income. But how do you know whether you are eligible enough to file for income tax? Am I taxable? Let’s take a look at your employment income. If you are earning more than RM34,000 per year which equivalent to RM 2833.33 monthly after EPF deduction, then you can consider yourself taxable. That’s the figure given by Inland Revenue Board (IRB) of[…]

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