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TAXATION IN MALAYSIA 2020 5. A payer, who pays interest to a non-resident, is required to withhold 15% of the gross interest and remit the
TAXATION IN MALAYSIA 2020 5. A payer, who pays interest to a non-resident, is required to withhold 15% of the gross interest and remit the amount withheld to Inland Revenue Board Malaysia within one month from the date of payment or crediting the amount to the non-resident. Explain under the Income Tax Act 1967 instances whereby interest income is deemed to be derived from a Malaysian source.[8 marks]
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