Explain how interest income is deemed to be derived from Malaysia under the Income Tax Act 1967. Please give explanation with example
Explain how interest income is deemed to be derived from Malaysia under the Income Tax Act 1967. Please give explanation with example
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Explain how interest income is deemed to be derived from Malaysia under the Income Tax Act 1967. Please give explanation with example
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Step 1: Introduction
Interest income usually gets taxed in the country where it is earned. However, there are some instances where interest income is regarded to be sourced from a specific country, despite the fact that it is paid from somewhere else. This is the case in Malaysia, where the Income Tax Act 1967 (ITA 1967) considers certain types of interest income to be received from Malaysia.
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