Standard Mileage Rate 2024 Malaysia. Government reduces ron97 and diesel retail prices by 5 sen each to rm3.42 and rm3.18 per litre respectively from 29 august 2024 to 4 september 2024 We'll cover the irs standard rate, how to calculate deductions, and tracking alternatives.

If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2024 year, that is, 1. While there is no prescribed standard mileage rate, the reimbursements made by the company should be reasonable.