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Malaysia Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
31,381,992 (July 2017 est.)
GDP (PPP)
$930.8 billion (2017 est.)

4th largest economy in Southeast Asia and Pacific

GDP growth rate
5.9% (2017 est.)

High and accelerating

GDP (PPP) per capita
$29,000 (2017 est.)

Medium

Local currency
Ringgit (MYR)

Weak currency which devalued considerably since 2013

Financial stability (Public debt)
54.2% of GDP (2017 est.)

Medium but shrinking

Inflation
3.8% (2017 est.)

Medium to high

Language
Bahasa Malaysia

English, Chinese (Cantonese, Mandarin), Tamil, Telugu, Malayalam, Panjabi, Thai

Corruption perception index (Source: Transparency International)
62/180

High level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

6% standard rate
Corporate Tax

24% standard rate 38% for oil and gas activities
Duties

Import duties are generally levied on an ad valorem basis with rates ranging from 2% to 60%

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