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Extension of application for tax incentive under the Returning Expert Programme
In Budget 2021, it was proposed that the application period for the Returning Expert Programme (REP) be extended for a further three years, until 31 December 2023 (see EY Take 5: Malaysia Budget 2021). The REP is a programme managed by Talent Corporation Malaysia Berhad to encourage professional Malaysian citizens working overseas to return to work in Malaysia. Approved applicants under the REP will be subject to tax on their employment income at the rate of 15%.
This proposal has now been legislated via the Income Tax (Determination of Approved Individual and Specified Year of Assessment Under the Returning Expert Programme) (Amendment) Rules 2021 [P.U.(A) 147] gazetted on 30 March 2021.