Tax Rate: Find Out Which Taxable Income Band You Are In
Starting from 0%, the tax rate in Malaysia goes up to 30% for the highest income band.
Based on your chargeable income for 2023, we can calculate how much tax you will be paying for last year’s assessment.
Here are the progressive income tax rates for Year of Assessment 2022:
|Chargeable Income||Calculations (RM)||Rate %||Tax(RM)|
|0 - 5,000||On the First 2,500||0||0|
|5,001 - 20,000||On the First 5,000||1||0|
|20,001 - 35,000||On the First 20,000||3||150|
|35,001 - 50,000||On the First 35,000||8||600|
|50,001 - 70,000||On the First 50,000||13||1,800|
|70,001 - 100,000||On the First 70,000||21||4,400|
|100,001 - 250,000||On the First 100,000||24||10,700|
|250,001 - 400,000||On the First 250,000||24.5||46,700|
|400,001 - 600,000||On the First 400,000||25||83,450|
|600,001 - 1,000,000||On the First 600,000||26||133,450|
|Exceeding 1,000,000||On the First 1,000,000||28||237,650|
|Exceeding 2,000,000||On the First 2,000,000||30||517,450|
Compare all the options available to find your best
Here’s an example on how to calculate your tax based on the personal income tax rate above:
Chargeable income: RM65,850
You can calculate your taxes based on the formula above, and just make sure your total income in the first column comes up to your total chargeable income.