15% tax for Returning Expert Programme (REP)
15% Tax rates
The Government under the Returning Expert Programme (REP) is offering the participants an income tax rate of 15% for five years. This is one of the initiative which now managed by Talent Corp in attracting Malaysian to return and serve the country.
The REP would offer greater emphasis on relevant work experience as opposed to qualifications. On top of attractive tax rates, The returnee will also be allowed to buy two locally-assembled vehicles tax-free compared to being allowed to import two cars, as previously practised.
Meanwhile, Talent Corp Malaysia Bhd (TalentCorp) said the transitional income tax incentive under the REP was to target higher value talents to return to Malaysia.
Diploma holders with at least 10 years of overseas work experience can now qualify for the REP if they have the relevant industry experience in a National Key Economic Area (NKEA), it said. Previously, they had to be degree holders.
Tax exemption on cars
Tax exemption on cars will be revised from currently two locally manufactured Complete Knocked Down (CKD) cars to one locally manufactured CKD or fully imported Complete Built Up (CBU) car per approved REP applicant, subject to a maximum of RM150,000 worth of tax exemption;
Fore more details on Expert Returning Programme (ERP), kindly visit www.talentcorp.com.my or email firstname.lastname@example.org