PRMinds, 7 Oc 2009
A recent report of taxes in Singapore vs Malaysia indicates that Malaysian based companies and entrepreneurs can achieve substantial tax savings by relocating to Singapore.
The report highlights the significant difference between the corporate income tax rates of Singapore and Malaysia. Singapore's corporate income tax rate is less than 9% for profits up to S$300,000 and flat 17% above S$300,000. In comparison, Malaysia resident companies are subject to a significantly higher corporate tax rate of 25%.
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