tax on foreign income?
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 Apr 14 2017, 11:06 AM
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#1
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Newbie
4 posts Joined: Apr 2017 
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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. |
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Apr 14 2017, 11:11 AM
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#2
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Newbie
4 posts Joined: Apr 2017
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Oops! Please correct me if I am wrong.
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Apr 14 2017, 04:40 PM
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#3
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Newbie
4 posts Joined: Apr 2017
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QUOTE(cherroy @ Apr 14 2017, 02:56 PM) It doesn't matter the goods is sold at where, the one matter is the place you work. 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.It doesn't qualify as foreign income, unless you are working at US, then different story.  |
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Apr 14 2017, 10:05 PM
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#4
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Newbie
4 posts Joined: Apr 2017
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QUOTE(cherroy @ Apr 14 2017, 05:18 PM) You have already answered the question on your own statement... OK, understand now. Thank you very much. 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. |
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