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