I am Das 5.10 yrs exp in IT,India ,60k take home .Got an offer in Great Eastern Malaysia via consultancy 1 yr contract renewal - 8000 MYR per month.
Is it a good offer ?? Heard about first 6 months tax deduction ,plz explain me about exact amount amount deduction in my salary and on my savings. Looking for Quick reply.
Contract job -Tax- savings - 8000 myr
Ajdas
17 April 2018 07:09:26
2
Gravitas
17 April 2018 08:07:36
9040
28% flat rate non-resident rate then stepped rate.
www.pwc.com/my/en/publications/2017-201 … oklet.html
The resident rate qualification gives a RM9k annual tax free allowance.
Salary is normal for years of experience.
The only issue is the 182 day rule when contacts starts after July cos of the need to link 2018 & 2019 (also182 days are required in this year to become tax resident).
Depending on rent can live quietly for Rm4-5k per month
Ajdas
17 April 2018 09:32:33
2
Thank you Gravitas for the reply
Just to be particular , will my expenses look like below
Tax (1st 6 months) - 2240 ,
food+room+other expenses - 2000
8000 - 4260 = 3740 (savings)
After 6 months , tax around 700
Nearly 8000 - 2700 = 5300 (savings)
Thanks in advance,
Gravitas
17 April 2018 09:56:27
9040
Need to add another rm500 to your monthly living costs.
If you achieve tax residency you get retroactive reimbursement of difference between 28% flat rate deduction and the graduated lower residents rate.
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