salary deduction in malaysia
Annual Salary is the total amount of gross salary earned by an employee on an annual basis before any deductions are made for EPF, SOCSO and income tax. Annual Salary (after deductions) is the total amount of salary remaining after the total deductions are made on the employee's gross annual salary.. 19% to 16% for the taxable income group of RM 50,001 to RM 70,000 which will result in a tax savings of RM 600. c. 24% to 21% for the taxable income group of RM 70,001 to RM 100,000 which will result in a tax savings of RM 900. 2.