If you earn less than RM2950 and still unmarried, you don’t pay income tax. True?<\/p>\n
If you are married, the cut-off value is RM3200.<\/p>\n
We have 10.5 million workers, with only one million paying tax. Our population is about 27.4 million. This indicates that less than half (~38%)of our population are salaried workers.\u00a0 If we estimate another 40% as being below working age and retired, that leaves roughly 22% of the population running businesses (and some not declaring their income) who pay tax via their companies\/businesses.<\/p>\n
Only 38,000 individuals are taxed at the highest bracket (28%), meaning they should be earning above RM20,000 per month or RM250,000 per year. I suppose about 30 of them are in the cabinet. Then we can look at top management of MNC, GLC, prominent companies, etc.<\/p>\n
The revenue from income tax comes to about RM10 billion, increasing steadily, especially since IRB revamped their systems and increased their staff.<\/p>\n