TalentCorp has tightened the criteria to get Returning Expert perks by:
- raising the minimum number of years of work abroad (e.g. from 6 to 8 years for someone with a Bachelor's degree)
- requiring a current salary abroad of more than RM20,000, plus experience and expertise needed in critical sectors
- allowing previous work experience in Malaysia to count in some cases (e.g. those with 4 years work abroad may qualify if they previously worked in Malaysia for 12 years or more and earn more than RM25,000)
Click on this link for a comparison of the old and new criteria:
http://www.talentcorp.com.my/wp-content ... iteria.pdf- there are also new limits to the tax exemption for cars - from two to one locally manufactured/assembled car OR one imported car, subject to a max of RM150,000 in tax exemption. This is partly so returnees can bring home existing cars.
The changes are for applications received after April 15, 2014.
Click below for the press release from TalentCorp.
http://www.talentcorp.com.my/2014/03/26 ... ht-talent/
It looks like TalentCorp is targeting more corner-office types and other highly-paid technical experts from the oil-and-gas and financial services industries.
Let us know on this forum what you think. Do the incentive changes make sense to you?
