The formula to determine the individual’s chargeable income for dividend tax has been gazetted. The new rule would apply to both tax resident and non-tax resident taxpayers and is effective year of assessment 2025 onwards.
Taxpayers may now search for tax identification numbers (TIN) on the MyTax portal for taxation purposes under the Income Tax Act 1967. Users can make a TIN search by entering the following information:
• identification numbers (identification card number or passport number) — for individual taxpayers
• business registration number or taxpayer’s registered name — for non-individual taxpayers.