The standard corporate rate is 24%. Resident small and medium-sized companies (i.e. companies incorporated in Malaysia with paid-up capital of MYR 2.5 million or less and income of not more than MYR 50 million and that are not part of a group containing a company exceeding this capitalization threshold) are taxed at 17% on the first MYR 600,000 (previously MYR 500,000 for Year of Assessment 2019), with the balance taxed at the current corporate tax rate.

Labuan companies carrying on qualifying business activities are taxed at a rate of 3%. From Year of Assessment 2019, an election to be taxed at a fixed amount of MYR 20,000 is abolished.