The Malaysian Government has proposed a set of tax benefits for certain types of companies. The changes will be implemented starting with 2017 and are included in the Budget for next year.
Malaysia has been ranked 23rd out of the total 190 economies analyzed in the World Bank Doing Business Report. The country managed to remain in a good position due to its continuous efforts to improve the business climate.
The 2017 Malaysian budget includes positive changes for small and medium companies operating in the country. This is a continuation of an initiative that started last year to encourage these types of businesses.
Malaysia and Ukraine have started working on a draft agreement for a new double tax treaty (DTA). The document would allow investors in Malaysia and employees from Ukraine to benefit from preferential withholding tax rates.
The Malaysian Ministry of Transport oversees all transport sectors: land, maritime and aviation. The Ministry is the regulating government agency for all road, highways and means of transportation.
Malaysia is an important trade hub in Southeast Asia. The country has good commercial relations with numerous countries and a series of bilateral agreements encourage foreign trade.