KUALA LUMPUR: There is no tax on money withdrawn from the Private Retirement Scheme (PRS) after the contributor reaches the age of 55 years.
Deputy Finance Minister Datuk Ahmad Maslan said the 8% tax imposed for withdrawal before 55 years was to curb early withdrawal of savings by retirees.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!