For many years Malaysian resident companies, individuals and unit trusts amongst others, have enjoyed a general exemption for foreign source income. However, this exemption will cease to apply with effect from 1 January 2022.

This article, published in the Tax Guardian (January 2022 issue) by KPMG's Executive Director in Corporate Tax Nicholas Crist, examines the impact of the proposal to repeal the foreign source income exemption.  Download the full article below.