The tax system of this country is simple. It Significant benefits provided by industrial enterprises, on on one hand enhance the competitiveness of Malaysian producers and on the other, stimulate savings and investment. The main tax paid by Malaysian companies is income tax or, as it is often called corporate tax. Its rate was lowered to 25% in 2009, before that it was 28%. However, it has a large number of benefits. For example, a company specializing in information technologies, as well as educational areas and tourism may be exempt from tax for 5 years with possible extension. In addition to corporate tax Malaysian companies pay sales tax on both imported and domestic goods. Ad valorem rates (in percent) are sometimes specific (specific amount). The general rate of sales tax – 10%, on wine and spirits – 20%, on cigarettes – 25%. The Goods and Services Tax (GST) is a value added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%. Excise taxes in Malaysia are established on cigarettes, wine and liquors and automobiles. Oil producing and processing enterprises, which are not the least in enhancing the economy of Malaysia, are taxed at a rate up to 38%. Residents of the country pay income tax on their earnings. It is progressive in nature and charged at a rate of 0 up to 27%. When selling any property or real estate citizens must pay Real Property Gain Tax, – tax on profits from sale of the property. RPGT rate varies from 5 to 30% depending on the period of ownership of real property or valuable securities. Residents are exempt from this tax in case if they hold the property for six years or more, and corporate entities in similar cases pay 5%.