Oct 26 2009, 10:45 AM
QUOTE(princess_autumn87 @ Oct 26 2009, 10:41 AM)
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.
QUOTE(Goneraz @ Oct 23 2009, 11:08 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.
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
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