Returning Expert Program:
- Encouraging Malaysian professionals to return: This program aims to attract Malaysian professionals living abroad back to their home country.
- Tax benefits for returnees:
- Flat tax rate: Employees under this program enjoy a flat tax rate of 15% for a duration of five years (compared to the usual 25%).
- Car tax exemption: They are exempt from paying taxes on cars, up to a maximum value of RM150,000.
- Personal effects exemption: Employees can bring personal effects into Malaysia without incurring tax, limited to one shipment.
- Eligibility criteria:
- Malaysian citizenship: Applicants must be Malaysian citizens.
- Continuous overseas employment: The applicant should have resided and been employed abroad continuously for at least 3 years.
- No recent Malaysian income: The employee should not have earned employment income in Malaysia for at least 3 years leading up to the application.
- Education and salary: A minimum diploma qualification, relevant work experience (duration varies based on qualification level), and a monthly salary equivalent to RM20,000 are required.
Iskandar Knowledge Worker Program:
- Promoting Development in Iskandar Region: This program aims to boost development in the Iskandar region in Johor.
- Tax Rate: Employees under this program are subject to a flat tax rate of 15%.
- Eligibility:
- Education and experience: Applicants need at least a bachelor’s degree and 5-10 years’ experience in a relevant field.
- No citizenship requirement: There is no need for Malaysian citizenship.
- Company and Deadline: The employee must work for an approved company within the Iskandar zone and apply by 31 Dec 2020.
- Sectors covered: The program is limited to companies operating within specific sectors:
- Biotechnology
- Green technology
- Education
- Creative industries
- Financial services
- Healthcare services
- Logistics services
- Information and communication technology (ICT)
- Tourism and hospitality
To gain additional information or seek any help, contact us at Zentrusted.
This
content is for informational purposes only and does not constitute professional
advice. Always refer to the official websites/guidelines/regulations of the
relevant authorities for detailed information and consult with a professional
for personalized guidance.