Examples for calculating taxes
Deep, Deep Dive
- You only need to file taxes if you earn above RM34,000 per year (after EPF deduction).
- Here is all you need to know on how to calculate your taxes:
- Salary + Any other income – Tax reliefs = Chargeable income
- Chargeable Income x Tax rate = Tax Payable
- (If any) Tax payable – Tax rebates= Total Tax Payable
- Filing your taxes properly could reduce how much taxes you’ll have to pay.
- If you don’t file your taxes, you risk getting fined or going to jail.
- If you aren’t sure how to file taxes or have problems on their website, call LHDN.