Hi i have a quick question. Say if i have a source of foreign income do i have to pay tax in Malaysia? DO you guys declare your income from foreign stocks?

Foreign income that paid by a foreign company in foreign country if bring back to Malaysia, is tax free.

oh ok... how bout profit i make from trading stocks? I am using a US brokerage, I dont get tax in US but do i have to pay the tax in Malaysia?

nope. o oredi pay tax in d origin country. no double taxing iz practiced in d world for income, any kind.

I've been told by income tax personnel that it doesn't matter where the money is from, as long as you are resident in Malaysia at the time the income is accrued, it is taxable. Unless you are physically overseas and working in overseas with a foreign company giving the employment.

But most people I know also never declare this income.

Not true, the rule already changed since 2004. To encourage ppl to bring in the foreign income back to Malaysia, u can check with your tax agent, or call up LHDN hotline to claify this.

You dont have to pay any tax on foreign income generated in overseas paid by a foreign company even u r a tax residents that stay more than 182 days in Malaysia.

Pls also check the following link:-

http://biz.thestar.com.my/news/story.asp?f...88&sec=business

http://www.publicmutual.com.my/documents/M...emptfromtax.pdf

This post has been edited by cheahcw2003: Oct 23 2009, 11:15 PM

But for stocks i was not taxed, i brought this up with my brokerage and they told me that unless i am a US citizen they are not allowed to tax me. If you are a US citizen they will deduct the tax from your acct directly. Iif you transfer more than RM10k into you bank acct you will have to declare it. So technically they have proof that i have additional income.

This post has been edited by Goneraz: Oct 23 2009, 11:10 PM

@goneraz
(sorry I tumpang your thread )

Me currently employ under Japanese MNC (in Singapore) but work in Johor Bahru. So means no need to pay income tax right? I asked LHDN on 2005 and their said no need to pay. However last week I asked again but now never said need to pay, only asked me to register with LHDN.

They wanna curik my money is it?

I tried searching LHDN website but cannot find the info

edit:

yahoo, find the link in IRB website. really no need to pay tax . Good news for you too goneraz

Link

This post has been edited by saiga: Oct 24 2009, 02:29 AM

I tried to search on LHDN website but also cannot get, luckily u found the following info in LHDN website:-

Income Remitted from Outside Malaysia
With effect from the year of assessment 2004, income derived from outside Malaysia and received in Malaysia by resident individual is exempted from tax.

I had the same info when called up LHDN hotline and also from my tax agent.
Bravo. Saiga.....

Thats awesome.. Thanks guys....I have been paying BUTA punya tax for years.. dunno if i cna get a refund

But it all thanks to you bro . If not I nearly lost few K's coz already took the registration form

---

Added on October 24, 2009, 3:07 pmDun give them a chance, ask them to refund all !

p/s : then can blanja me n cheah

This post has been edited by saiga: Oct 24 2009, 03:07 PM

So if I earn several thousand ringgit a month from Google Adsense + USA affiliate marketing activities, I don't have to declare to LHDN?

This post has been edited by socratesman: Oct 25 2009, 12:59 AM

income that is deemed derived from malaysia is taxable, since your foreign income is not from malaysia then it is not taxable.

There was some discussion on income from Googles. My opinion is that it is not taxable. However, there are some who think that it is taxable.

You can read up My Webpage. Please read also the comments.

working for mnc and the pay released within local meaning u for sure entitle into the tax bracket.

for those who work outside than malaysia and pay remits back to malaysia will not be entitled into tax bracket.

however, if you remit the investment back from overseas to malaysia and it is not taxable but it shall be taxed at the respective country of your investment

Erm ... not quite true. But i do not have more concrete information on that now.

Anyway, we'll take Goneraz case for example. The profit he earned from stocks in the US is not taxable by the US government because he is neither a US citizen nor a registered US taxpayer. When he TT that money back to Malaysia, he doesn't need to pay a cent to LHDN either as that is considered a foreign income.

Another example is when someone (Malaysian) has some stock trading activities outside Malaysia and all the profit is deposit directly into his/her Singapore bank account, the Singapore IRB cannot tax him/her because he/she is not working in Singapore. When he/she TT that money back to Malaysia LHDN can't tax him/her either.


Goneraz, not only US citizen needs to pay tax to the IRB but also US PR or whoever holding a US working pass etc.

This post has been edited by MilesAndMore: Oct 26 2009, 10:54 AM

Hi guys,

I know this is kind of outdated but I have a question regarding the issue discussed above. Hopefully someone can provide some advise as the links above are dead.

The scenario as below :

1. I am currently engaged by a local Sdn. Bhd. and paying my taxes
2. Assuming that I am hired by a Pte. Ltd. company based in Singapore,
but I will be working in Malaysia expanding the local market for them.

I believe that if I am paid in Singapore, I will have to pay non-resident tax which amounts to 15% .

Another option I'm looking at is to request that monthly salary be TTed directly to my bank account in Malaysia. In this situation, would I need to pay tax since although the money is from a foreign source, I would actually be "working" in Malaysia.

You still need to pay SG non-resident tax... no running away from this one. Paid by SG company, employment contract by SG company, pay SG tax. It will auto deduct and a portion goes to CPF, you cannot run away unless the company is willing to break the law.

You can TT the money anywhere your heart desires, it is where the money originate from matters.

This post has been edited by gark: Jan 23 2013, 03:07 PM

Hi guys.

I got a silly question hope u guys don't mind - what if i want sell things online but not to Malaysian market (ie, from foreign market) still taxable? Coz i'm thinking of registering a business....most probably the sole proprietor type.

TQ

This post has been edited by cinderlala: Apr 7 2013, 01:24 PM

It is not about where you sell your product to, it is about where you perform the sales or operate from.

Yes! Need to declear

Quit spamming the forum with one line replies...

Sorry to bring it up guys but I have question.

I have a business in a tax-free country and I want to TT some of my income (any limit?) to Malaysia - would I be taxed?

1. I am a foreigner under long term social pass visa.
2. I operate (send e-mails) from Malaysia but my company is based overseas.

I have a business in a tax-free country and I want to TT some of my income (any limit?) to Malaysia - would I be taxed?
It's depends

1. I am a foreigner under long term social pass visa.
You have to pay tax in Malaysia if you have income. If you are more than 182 days in Malaysia in a year. You are tax resident in Malaysia. Pay according to tax resident rate. If less, you are consider non-resident in Malaysia. Pay at 26% non-resident rate.

2. I operate (send e-mails) from Malaysia but my company is based overseas.
Doesn't matter where your company is incorporated or based. As long as you perform the action to generate the profit in Malaysia (send business email, make business phone call, give instruction to oversea staff, develop webpage, take order online, create google adword to make profit etc) or you mange and control your foreign company (director etc) in Malaysia, you have to pay tax in Malaysia.

I have a business in a tax-free country and I want to TT some of my income (any limit?) to Malaysia - would I be taxed?
If you did not perform any action to generate the profit or manage and control your oversea company in Malaysia, then no need.

The key is, where you are and what you do. Company location or tax free or not is not that important. Unless you are physically there. Most countries in the world like Singapore, UK etc follow this rule.

This post has been edited by vlow2yat: Oct 17 2013, 05:42 PM

Half correct only. You don't need to pay tax only if the foreign income is 100% generated without any of your involvement while you are in Malaysia. Eg: You are a shareholder of the oversea company. Not involve in any operation of the company while you are in Malaysia. Or you involve and perform the action to generate the profit while you are in oversea.

If you involve in making the foreign profit in Malaysia, you have to pay tax. Eg: Director, owner making decision in Malaysia

This post has been edited by vlow2yat: Oct 17 2013, 04:42 PM

You have to pay tax if you create your google adsense, join the affiliate marketing, setup your promotion campaign etc while you are physically IN MALAYSIA. You perform the business action here.

Half true only. Unless you did not involve in the profit generating process while in Malaysia. Or you did involve while you are in oversea.

Yes, you have to.

Double taxation agreement is, if A tax you, then no need to pay tax again to B. If A didn't tax you, then you need to pay to B.

Where are you operating from? If in Malaysia, yes you have to pay tax.

Yes this is the main point.

Hey guys,

Till today I am still confused about this.

I am living and working from home in Malaysia. My company is in Singapore. My salary is TTed to me on a monthly basis from Singapore but to my Malaysian bank account.

In this case, is my income taxable?

You will be taxed on income earned for the period you rendered services in Malaysia even if your employer is not a resident in Malaysia, or your income is not paid in Malaysia. This also applies if your employer sends you to Malaysia for training, operating of machinery, conducting and attending meetings. Taxable income includes salary, bonus, allowances, honorarium, per diem, accommodation, leave passages, and value of any benefits-in-kind (e.g. food, transport) provided to you by your employer.

actually its very simple, they tax you base on how and where you earn your money. If you earn your money working in malaysia, doesnt matter who pays you, you are taxable. unless you work in sinagpore, bring the cash back into malaysia, then LHDN would not tax you. Eg you work in SG, but your employer bank into your tiger bank in malaysia, then they will not tax you since its not derived from malaysia. the word derived from malaysia is the key of this whole thing. for your case, its derived and received in malaysia. only income received in malaysia but derived outside malaysia is exempted from income tax.

Well say

In fact, I am a Malaysian and have always been living/working in Malaysia. =)

Thanks for the explanation bro. Appreciate it very much.

So in this case, if I choose to have my income banked into a Singaporean bank account, and when I need only I bring cash back.
Will that make my income tax free?

Correct....wah...u dig what I have written 4 years ago?

Yes, taxable, it is based on where you perform the job aka where you derived income from.

It is still taxable.
As mentioned earlier, it is about where the income derived from, if you are working in Malaysia or perform the job in Malaysia, that result in an income, then it is considered derived in Malaysia.

Whether it is paid in where or in whatever currency, it doesn't matter.

Thanks for the confirmation bro.

I guessed the best way is to not have any legal establishment in Malaysia..then not taxable. Everything go under the radar is best. After all M'sia is a country NOT worth paying tax to! Disagree all you want, bring in the drama, kick a fuss...i don't care. A country that is the CHAMPION in corruption has NO freaking rights to BS so much about its people evading tax...while many of them, the ruling thugs, are ACTUALLY evading the GALLOWS. Yes, crimes worthy of death penalty!!

This post has been edited by cinderlala: Oct 24 2013, 05:37 PM

What happen I have a regular job & second freelance job but it online (US) & getting pay in USD same rule apply ?

This post has been edited by Spectreoutreach: Feb 11 2015, 10:09 AM

Thanks! I needed this info! But I got additional questions.
The situation is this: I work in software development from home. The company who hired me does not have a branch here and they pay me directly from their company based in London through Paypal. We communicate through the internet.

So based on your reasoning, I would still need to pay income tax because even though the physical location of the company I work with is in London, during my working hours I am still here in Malaysia. The keyword being "derived from Malaysia" means "when you were working you were physically here in Malaysia", correct?

My question is this, if my company was already deducting my pay for taxes in London, wouldn't that mean I am being double taxed? Or is there a clause somewhere that says if I'm being taxed in London I won't have to be taxed here?


This post has been edited by JaggedEdge: Feb 25 2016, 05:02 PM

Yes, correct, subjected to Malaysia tax.

I do not think your company deducted taxes behalf on you in London, as you have no file with the UK tax authority, how can they deduct tax there on your behalf?

I just asked because someone told me that if my income was taxed at its source (the company), I won't have to pay income tax for it again here.

My current arrangement with them is they pay me the full amount. Taxes wasn't included in that discussion. I was thinking if this was the case I would ask them to tax me there instead since I might be in a lower tax bracket.


Edit: Also, theoretically, if say I was somehow working and living and paying taxes overseas and then came back Malaysia and continued working with that company here, what happens then?

This post has been edited by JaggedEdge: Feb 25 2016, 05:57 PM

https://www.gov.uk/government/publications/...eaties-in-force

should be this one. if your tax paid in uk is higher than malaysia you dont have to pay, but if its lower then u have to topup. if my memory serve me right uk tax rate should be way more higher. just make sure you keep all the tax paid supporting

No

witholding tax i suppose... but i doubt about that since he did not work there at all.

Developed countries generally have higher tax one. Malaysia's tax is relatively lower as compared.
Why you want to tax at foreign countries tax rate is beyond my understanding.

Once you move back and become tax resident of Malaysia, then subjected to Malaysia taxation ruling already.

You're right. I just checked and the tax rate there is 20% for 0 to 30k a year. There goes that idea

investement in HK stock market, foreign income free from tax?

work as broker @ malaysia, commission received from activity, need declare tax? only bank statement every month, no details

Those investment gain abroad is tax exempted when repatriated back to Malaysia, as it is deemed foreign capital gain income, which is already subjected to respectively countries regulation on capital gain or witholding tax (if).

Broker's commission is subjected to income tax, which needs to be declared.
Bank's statement ( of the commission being banked in) can be the supporting document for those income.

If a freelancer work in Malaysia through an international freelancer site, does the income taxable?

it's taxable.. please read http://www.hasil.gov.my/pdf/pdfam/GUIDELIN...IC_COMMERCE.pdf

Yes, it is based on the statement in bold above.

make it simple, as long as you work in malaysia = taxable. doesnt care who pays u and where they are based, you are 'exporting' your service from malaysia.

okie

okie

Sorry to bring this topic up again, but I have question.

I was now based in Malaysia and work from home (for my own sole-proprietorship company in Singapore) as all my business my delivered online via email.
I set-up a virtual office by only renting a legal office address for client to make send me payment.

Payment from client was directly into my Singapore bank account.
I went Inland Revenue to ask, but the officer said I do not have to pay for Singapore tax, as long as the work wasnt being "produce" in Singapore.
It doesnt matter why i was paid in Sing.

But then I heard foreign-earned income is exempted in Malaysia.
So how ah...? I dont have to pay tax? can someone guide me?

Got such big toad anyhow hopping on the street anot..?

This post has been edited by shingyong84: Mar 31 2016, 07:46 PM

You based in MY, you do work from MY.. doesnt matter if your money go to SG.

You are liable for MY tax NOT SG tax.

MY foreign income exempted only if you are NOT working in MY or foreign investment income.

This post has been edited by gark: Mar 31 2016, 07:49 PM

Thanks for the quick respond

Sorry to ask a silly quest.. how to define "NOT WORKING" in MY eh..?

Yes, I was based in MY more than 185days a year.
NOT WORKING.. hmm.. yeah, most of the time not in working condition.
Not tagging with any agencies. No working record in Malaysia..

My role is basically a middle-man/ art buyer.
To buy Malaysian Art behalf of my company in SG and sell to overseas clients..

So it was actually some other artists WORK, send me soft copy, and i export via email.

This post has been edited by shingyong84: Mar 31 2016, 08:43 PM

Aiyah... There is no way for them to check. Unless u start transferring huge sum of money back to Malaysia. No need declare LA. Start investing your money in Singapore don't bring back Malaysia. No tax.

Not working in Malaysia if you stay less than 182 days in Malaysia.

From MY Tax point of view: U should be deriving income from MY based on your role/function as a middle-man/art buyer in MY. Since you are being remunerated for that role to your clients the income earned during your stint in MY shud be taxed here.

The time period of > 182 days only determines whether u shud be taxed as a Tax Resident or not.

Since u have been in MY for more than 6 months, I assume u have been travelling back and forth a few times and did not stay in MY consecutively for the entire 6 months.

If you didn't use any Professional Visit Pass or Employment pass to come in to MY for that 6 months duration, then it will be difficult for IRB to prove on your income derivation activities unless you declared to Immigration that your intention to stay in MY for X no. of days was for work/business purposes.

100% of your fees charged to your customers will be paid to your sole prop in SG?

this sort of answer is really scary.

I am a Malaysian, i stayed in MY for more than 6 months consecutively except some minor travelling to Singapore to do some banking within a day.

I have a team of freelancers in MY who produced me artwork, and my role is just order them to produce and sell to 3rd Party in SEA.
All 100% fees were paid to my sole-prop registered company in SG.

This post has been edited by shingyong84: Apr 2 2016, 03:47 AM

Regardless of whether you are a citizen or not, ultimately your taxes in MY depends on how long a period you were working and deriving your income from MY (> or < 182 days to determine tax rate based on tax residency), regardless of where you are paid and who is your employer or where your entity is officially registered or where the contracts were entered into.

You should mainly be taxed in MY, since you have established a precedence of working mainly in MY. Your passport entries and other business documents and emails should be able to demonstrate this clearly.

Cost for hiring freelancers is a cost to your business, doesn't change the fact on where you must be taxed in the end.

The only thing you need to be mindful of is whether in the past 2-3 years you have been declaring your taxes in MY as nil and declaring your taxes in SG with income. A sudden change in tax declarations would prompt/highlight to the tax authorities on your tax file(s). You must have ready on hand all the necessary documents to justify your basis for tax for both countries.

E.g
In MY: 2014 - nil tax, 2015 - tax at say 20%, 2016 - nil tax
In SG: 2014 - tax at say 15%, 2015 - nil tax, 2016 - tax at 15%

If you have been declaring your taxes in MY all this while with none in SG then no issue. Key thing is consistency. If you aren't consistent as per the above example, then you must be able to back it up with the relevant supporting.

Thanks for the clarifications, guys!

This thread is really helpful!

I'm in a rather different situation. I'm a Malaysian but not in Malaysia, and by the tax definition I'm a "non-resident". I work in a foreign country and they pay me for my services, but I am curious to know this (in all cases, I work overseas)

Assumption A: I sign an individual work contract in this country with my employer, as an individual
1. If they pay me in this country, I pay personal tax here (which is more than 30%). That's obvious.

Assumption B: I sign a service contract between my sole proprietor company & my employer
2. I have a sole proprietor company registered in Malaysia. What happens tax-wise if my sole-prop company bills my foreign employer (in lieu of salary), invoice from Malaysia for services rendered outside of Malaysia? What tax do I pay?

Assumption C: I sign an individual work contract in Malaysia with my foreign employer, as an individual
3. Next scenario, what if my employer pays me as an individual for services rendered outside Malaysia, but the payment method is TT to a Malaysian bank account?

I understand that sole proprietorship means that I'm taxed as an individual. But I'm unable to find information what happens if I'm a non-resident, no one seems to know which category I'm in. Do help!

Hey guys, please help me.

I am Malaysian and living in Malaysia but working for a China company through internet,
my income is transfer into my bank account in Malaysia after deducted the amount of tax in China,
how can I avoid double taxation in Malaysia?

Thanks!

1 question here, from previous comment i realized that foreign income will be exempted tax, but should we declare the income??

If no need, what will happen if they found the money is come from nowhere as i did not declare the income.

hi there, i have a Q here as well. Since there are many experts here.

I'm always confused whether is my income taxable or not. Here's the scenario,

1. I have a regional role that supporting 6 markets - in SEA. I travelling often almost travel out of malaysia for more than 50 days in a year.
2. My contract was signed off by our main HQ that based in Singapore. However my salary package is stipulated in MYR.
3. The salary is direct TT to tiger bank every month.

so is my income taxable in this case? thanks for your help in advance!

definately taxable by our goverment...

Dividends from US stocks are taxed. You don't get taxed for capital gain, but they will take 30% from your dividends

open an account on BOA or BOC or others bank.
example:
withdraw all to BOA account and transfer to local bank if bank freeze the money and ask where is the money from. just tell them what u are doing and if they wan trading statement just give them.

Hi bro,

I do have some question here & hope our expert here could help to advise.

I started working in Macau since 15 July 2014 till today. However my contract in Macau will be ending in end Mar then I will be going back Msia. All my salary are paid in Macau currency to my Macau bank account after deducted taxes based on Macau law.

I plan to declare my macau income in Msia. I am sure i will not be taxed in Msia for the year of 2015 & 2016 as I stayed in Macau for more than 186 days per year.

My questions are,

1. Will I be taxed by LHDN for my macau income for the year of 2014 as I stayed in Msia for more than 186 days before going to Macau to work on 15 July 2014?

2. I am going back msia this coming april and most likely will be staying for more than 186 days in msia. Will i be taxed by LHDN for my Jan-Mar 2017 macau income ?

As I was told by my friend that I will need to pay tax to LHDN for my oversea income (even my income have already been taxed by Macau Government) if I stay in msia for more than 186 days a year.

Thanks in advance for your expert advice.

Hi there,

I have a similar question as well. So i will copy the scenario above.

I'm confused whether is my income taxable or not. Here's the scenario,

1. I have a regional role that supporting 2 markets - in SEA. I travelling often almost travel out of malaysia for more than 100 days in a year. I would be staying in malaysia but working out of Malaysia.
2. My contract was signed off in Asia HQ that based in Thailand but the mother company is based in Denmark. However my salary package is stipulated in EURO`s.
3. The salary would be TT to my account, that means EURO`s and it would be automatically changed to RM. any idea how will the conversion rate be?
4. How to submit documents from LHDN? Need some extra supporting documents from the company?
5. I wont be paying any tax in Thailand nor Denmark, if not mistaken.

so is my income taxable in this case?

Situation 1:

- Work with China company at home
- Received salary every month via Paypal

Situation 2:

- Work with Hong Kong company at Malaysia factory at representative
- Received salary every month via TT


In this two situation, I need to pay tax?

Anyone answer the question above?

Yes.

Both are deemed income derived in Malaysia.

Hi guys. I am new, hope fellow members can help me out.

I have a question on an employee who receives free stocks of the parent company in the US. If these stocks were sold in the US, and the proceeds is TT back to Malaysia, does this qualify as "foreign source income" under IRB laws? It is actually a benefit of employment, aka perquisite. Please correct me if I am not wrong.

Thank you.

Oops! Please correct me if I am wrong.

It doesn't matter the goods is sold at where, the one matter is the place you work.

It doesn't qualify as foreign income, unless you are working at US, then different story.

Sorry, my mistake. Let me clarify. The employee is working here in Malaysia for a subsidiary company of a US company. He receives free shares of the parent company in the US. If he sold these shares in the US and bring the money back to Malaysia (TT). Is this money considered foreign source income or not? It is not from a business activity.

You have already answered the question on your own statement...

Working here -> derived income in Malaysia -> subjected to Malaysia taxation.

Working in a US company /= working abroad.
Receive money from US /= derived income at US.

So exemption on foreign income is not applied for the above example.

The free shares situation should be similar to ESOS given to employee.

OK, understand now. Thank you very much.

Hi Guys,

Need your advice on my situation,

1) Working in Macau with Macau company.
2) Received income in Macau currency and bank into Macau bank account.
3) Bring back to Malaysia via TT or cash(sometimes)

Is my income above taxable by Msia IRB?

Thanks!

Not taxable.

Is forex trading considered capital gain and hence not taxable?

I have a different situation.

I am an investor in a health screening product by a Malaysian company. The health screening products are brought to China. Obviously for every test conducted by this health screening product there, there is a payment received. As an investor, I received a percentage of this payment so we call this a test income.

Since this test income is from a health screening product conducted in China, this means that the source of the income is overseas. As I understand, with effect from the year of assessment 2004, income received in Malaysia by an individual for a year of assessment that is derived from sources outside Malaysia is exempted from tax.

This means that when the Malaysian company pays me the test income to my Malaysian bank account, I should not need to pay any tax on it. I am prepared to open a bank account in
Singapore so that I can receive the test income there if it helps.

Anyone has any opinion on this?

This post has been edited by kenviro: Aug 8 2017, 11:12 AM

The income is considered as derived in Malaysia based on the bolded info provided, hence it is taxable.

It is not a foreign income based on the above info.
Foreign income = you work at foreign countries and generate income at foreign country and subjected to the foreign country tax there.

Are there any citation from any Section on Acts etc that you can share with me?

I am facing the similar situation and am considering the implication for bringing a lump sum of foreign money back to Malaysia from HK

As long as you paid income tax at the country of origin, not a resident of Malaysia during the time and able to show proof, it will not be taxable in MY..

However, bringing in large sum of money or purchasing any asset will always subject to IRB flag and they may send you a query if it is big enough.

This post has been edited by gark: Aug 29 2017, 01:47 PM

One question, I am new here, hope some members can help me out.

I have a question, if I am a shareholder of a foreign company and they pay me dividend in a cryptocurrency/bitcoin.

1) If these bitcoin were sold in the that foreign country and get taxed there and i channel it from foreign exchanges/bank to my bank account here in Malaysia, will I need to pay another income or declare it?

2) and what if I sell the bitcoin in Malaysia and directly into malaysian account, ?
'And when Im selling bitcoins in Malaysia, for example on Luno or XBit Asia, basically im selling a digital asset within Malaysia, to someone inside Malaysia, and getting the payment in Malaysian Ringgit, and then withdrawing from the exchange's Malaysian bank account to my own Malaysian bank account.' This one is for sure need to pay income tax right eventhough i get it as a dividend?


does any of this situation qualify as "foreign source income" under IRB laws?

And which one is the best way to bring back the money?



Thank you.

This post has been edited by shahrul09: Aug 29 2017, 06:48 PM