Rural properties would be exempt from this obligation.
But it must be taken into account that there are some rental incomes that are not included in the model. These are those on malaysian business email list which no withholding or payment on account must be made.
As for urban properties, there are certain exemptions under which you will not have to fill out or file form 115. Some rental incomes are not included in the model. These are those on which no withholding or payment on account must be made.
Let's look at them in detail.
What income from property leasing is not included in Form 115?
Leases of housing by companies for their employees.
Rents paid by the tenant to the same landlord that do not exceed 900 euros per year.
When the landlord provides us with an exemption certificate issued by the Treasury for being included in one of the sections of group 861 (company dedicated to the leasing of housing or premises). The tenant must ensure that the landlord provides him with an updated certificate each year.
When the returns are derived from financial leasing contracts.
When the income is obtained by fully exempt entities (public utility entities) established in article 9.1 of the Corporate Tax Law.
Are parking space retentions also included in the model?
When a professional or business owner rents a parking space, he or she must inform the landlord of its condition and make a withholding tax on the rental payments.
