Malaysia: 2017 Budget Reduced Tax for High Growth Businesses
Malaysia published its 2017 budget on October 21, 2016. Among other measures announced was a reduction in the corporate tax rate for small businesses from 19% to 18%. High growth businesses also receive a lower corporate tax rate based on the year-on-year increase in their taxable income. For growth between 5 and 10%, a reduced tax rate of 23%; 10-15% growth, 22%; 15-20% growth, 21%; and growth over 20%, a reduced tax rate of 20%.