Monthly tax deduction at source by the employer on income from employment has been published as gazette on 27 December 2012. The amendment has taken place by the Income Tax Deduction from Remuneration Amendment Rules No. 2 of 2012 which is effective from 1 January 2013.
Malaysia’s Inland Revenue Board also issued Public Rulings no. 11/2012 and 12/2012 regarding employee share schemes and share scheme benefits for cross-border employees. Detail guidance has been provided in the said rulings on different aspect of the schemes including the market value of benefits received from the schemes.
