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

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?

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?

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?

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?

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

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

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?

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.

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.

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?

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.

I am currently in the same situation as her, except that in 24 days I will be a tax resident in Malaysia. If that's the case, what do I do with the income derived from a service exported to Italy and performed in Italy. ?

What if I am neither a tax resident of both Malaysia and Italy ? Will I be able to pick just one to pay tax to e.g Malaysia and claim that it's a foreign income and get exemption ? Does it work this way ?

Thanks for your input !

You are non-resident under Malaysian tax law if you stay less than 182 days in Malaysia in a year, regardless of your citizenship or nationality.

Non-resident individual is taxed at a different tax rate on income earned/received from Malaysia.

Question:

If I am the director of a company registered in switzerland. Company is used as a shell company for online market trading.

In actuality, I trade from malaysia using the company in switzerland.

But i pay corporate tax in Switzerland. The profit of the company is sent back to malaysia every quarter to my personal bank account as profit from investment from my switzerland company.

1)Technically, the company in switzerland is making money for me. Although i am the one trading in Malaysia.
2)I am already paying corporate tax to switzerland. And any income repatriated to my personal account should not be taxable because it is foreign sourced investment right?

what is this?

I see. But if I'm dealing with financial products then this doesn't apply right? After all everything is capital gains. But a profit nontheless. So it would be reported as a profit from financial trading.

I don't see how transfer pricing is applied here.
I'm basically saying:
1)I'm a director of xyz swiss. xyz swiss is a financial trading company registered in switzerland and pays tax there.
2)I put money into xyz swiss under my personal capacity for investment purposes. Not as a director expanding his company.
3)Profit from xyz swiss is sent back to me in malaysia as investment gains every quarter under my personal capacity.

Bonus question: 4)If trading profits are repatriated fully, meaning the company doesn't report any gains or losses, and thus is not taxed, is this considered fraud? Because:
1)Swiss company doesn't gain or lose anything thus not eligible to tax in swiss.
2)Yet money is coming back to me in malaysia as capital gains from overseas investment. Therefore not taxable.

Hi everyone. Sorry need some guidance here.

I am Malaysian working in Malaysia. I am employed by a company with HQ in Singapore and factory in Malaysia. I currently draw 2 salary, one issued by the Singapore HQ into my Singapore bank account, and another issued by the Malaysia factory into my Malaysian account. In fact I'm contributing to both CPF and EPF for my salaries.

My question is, is my Singapore salary taxable in Malaysia? Can I bring the money in to Malaysia?

Wouldn't that be double taxation? I'm not sure, but what I'm assuming is that he's paying taxes in both Singapore ( for his Singapore work) and in Malaysia ( for his work in Malaysia)

Hi Cherroy,
My situation is similar to some of the existing cases here.

1. I work for US company, get paid from Singapore TTed into my Malaysia account.
2. I based in Malaysia.
3. The company is not a registered company in Malaysia.

I know that I'm a taxable person in Malaysia. In this case, how can I get EA form from my employer? As in EA form, employer need to state down their company registered number. Any other format of the file similar to EA form accepted by the LHDN?

Hope can get an answer from you.

Thanks.

Thank you for the advice. I am actually working under the company instead of providing service for the company. It's a software company, and my task is consult and train the user on how to use the software.

About tax exempt, I have another question. Based on this: http://lampiran1.hasil.gov.my/pdf/pdfam/Notes_PartF_2.pdf

It says it's tax exempt for allowance provided on mobile phone, broadband service and etc. I'd like to know more about this area, given by the example:

1. I received a sum of money, let's say RM600.00 for the mentioned allowance.
2. I only used RM300.00 provided with receipts.

From there, the tax relief portion is RM600.00 or RM300.00?

Thanks again