[fa icon="calendar'] Aug 06, 2018 @ 08:18 AM / by Jeremy Piccoli

Kuala Lumpur, Malaysia as seen during an AIRINC cost of living survey.

Malaysian Employee Provident Fund

Malaysia The Malaysian government had reduced the employee contribution rate to the Employee Provident Fund from 11% to 8% without limitation, a move aimed at stimulating consumer spending.

 The rate reduction was temporary, effective from March 2016 to December 2017, and the mandatory contribution rate has reverted to 11% as of January 1, 2018. In addition, the three income tax bands between MYR 20,000 and MYR 70,000 have each been reduced by 2%. The net effect of these changes is a 3% increase in social security contributions and a small decrease in income tax for all taxpayers.

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AIRINC's Data Points: Your Global Mobility News

Want to learn more? The above excerpt is taken from Data Points, AIRINC's quarterly newsletter. Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments based on our expert international surveys, which are conducted by our global data collection team on-location.

This quarter's cost-of-living surveys were conducted primarily in Europe, Asia, and mainland Southeast Asia.

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Topics: Insights and Experience, Data Points, Malaysia, International Tax, Tax