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> Income tax Malaysia vs Singapore, Latest rates

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ar188
post Jun 29 2015, 11:52 PM

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QUOTE(eXTaTine @ Jun 29 2015, 10:55 PM)
The purpose of this tered is to show the difference in income tax between Singapore and Malaysia

We use /k/ income as an example around RM20k/month. I didn't include the misc deductions as it will be too complicated. So I just give the basic example.
Malaysia
Consider someone earn RM280000 in 2015, taxable income is RM265000 after deduct RM9000 for Individual relief and RM6000 for KWSP.

Refer to
http://www1.malaysiasalary.com/income-tax/...n-malaysia.html

Taxable income RM265000. Total tax payable is RM47900 + 15000 X 0.245 = 51575, or 51575/280000 = 18.42%
Singapore
RM280000/2.8 is SGD100k. Taxable income = 100k - 1k personal relief - 12k CPF = 87k

Based on https://www.iras.gov.sg/irashome/Individual...come-Tax-Rates/

Income tax for 87k taxable income is SGD3350 + 7000 * 0.115 = 4155SGD. Tax rate is 4.155%
Conclusion?
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inb4 sg need rm 10mil to buy DSL.. biggrin.gif

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