there could be a form of deduction under double taxation rule..but the general rule is 3% to be imposed on foreign remittance to Malaysia in the 1st 6 mths and to follow individual tax rate thereafter...

A provision in the Finance Bill would tax foreign-source income received by any Malaysian resident person, effective from 1 January 2022.

The tax would be imposed at a transitional tax rate of 3% based on the gross amount received, from 1 January 2022 through 30 June 2022.

The Inland Revenue Board issued a media release about the introduction of a special program for foreign income remittance during the transitional period. Under the program, only remittances of foreign income would be subject to the tax.

The tax authority is ready to accept any disclosure / declaration made by taxpayers, without conducting a tax audit or investigation.
Taxpayers seeking to participate in the program must make a declaration not later than 30 days after the end of program (on or before 30 July 2022).
Any tax payment arising from such foreign income remittance would be due on the statutory or extended submission deadline of the tax return for the relevant year of assessment.
Once the program expires, the tax authority will scrutinize information on funds kept overseas by Malaysian resident persons, pursuant to exchange of information agreements with foreign countries. Where taxpayers are subsequently found to be under-declaring their foreign-sourced income remitted into Malaysia, or even not reporting Malaysian-sourced income from overseas, additional assessment together with penalties could be assessed.