Most lilely will kena. I read some other countries such as UK, australia anf NZ which impose tax on foreign income. Dividend is usually one of them. Just hope the impact is small

Gonna give up my Malaysia citizenship soon...

Hansel Can share how to shield against this tax ah?

Maybe it is time to set up Cayman Island shell companies or transfer profit to Ireland.

the whole purpose is to eliminate tax dodgers and money laundering...

if you go USA or Japan.. your world wide income is taxable...

your angpow money is also taxable...

Not in HK and SG. SG is where I want to be.

Oh shit.....

Ok I did some quick check, stay in Malaysia for 182 days or more then considered tax resident, so I buy property in SG with my family when retire stay in Malaysia for a few days less than 6 months, then can escape tax.

Won’t happen thanks to Biden and his minimum global tax

The only way is to re vote Trump and back to previous tax status

Malaysians hopefully smart enough to vote out useless PN come next year then most likely will shelve this tax plan then

Sg is one of the worst place to be. Portugal, Canada are good place to stay Portugal low tax.
Finland very good life balance.
Canada high tax but good life

You do know that sg PR cannot buy a hdb? They need to buy a 5 year old flat. One HDB easily sgd300k. Good luck.

Well everyone has different goals and views. I disdain Western countries for their high taxes and over-liberal lifestyle, plus racial discrimination there. You seem to hate SG in every way, that's ok.

HDB resale flat is what I am aiming for, if I am SG PR. I do not discount the possibility of giving up my MY citizenship, so there is still a chance of me becoming kiasu kiasi Singaporean, then BTO flats will be the main avenue for me.

For work SG is fine, also good for starting a family too, compared to MY and HK. But for retirement, as of now, MY still ranks the best among the 3.

This post has been edited by TOS: Oct 30 2021, 07:04 AM

For rising family no. Have you seen the kids at sg? All work and no play. 6 year old already for tuition and all kind of classes.

My friend was in sg. He told me the parents there want to hire him to teach their children sports and play games. Can you believed that?

It's not about over liberal. You want to have best work life balance. Do you want to overtime work say 10h a day or do you want to work say 8h 4 days a week? Your choice.

I do not hate sg. I am just saying they are old fashion Vs HK (unable to move USD around) or us (no fingerprint verification for withdrawal). Also ask yourself do you want to be kiasu and kiasi? I cannot imagine living that kind of life. Imagine go out makan and put tissue on the table cause scared someone take your seat.l

This post has been edited by Ramjade: Oct 30 2021, 09:35 AM

If the dividend (derived from Stock Exchanges not in Malaysia) is credited into our banking accounts in Singapore or any other foreign country, income tax should not be imposed upon our dividend, right?

This post has been edited by kart: Oct 30 2021, 09:02 AM

What about if it goes to SG bank account, then you move that dividend into Malaysia say via CIMB SG/Maybank SG to say CIMB MY?

If LHDN/IRB wants to argue, you transfer it to Malaysia, so you receive it in Malaysia in the end. Sound plausible?

Yeah. You will probably have to declare to the bank where is the source of the funds.

Theoretically it should be taxed as it's a source of income. But that's where the line foreign income isn't clearly explained. Is it jobs or does it involve investment? We will know on Jan 2021. If they ask to pay, just pay only. But I like what you are thinking. If it never arrived back in Malaysia, is it counted? But you never know. Govt all around the world no money already. It's a global stuff. Govt around the world trying to claw back the money they gave out. More prominent in Malaysia. Have you seen the other tax?
1) tax on all imported stuff
2) tax on courier service

The two tax will.increase inflation and cost of living as everything we use is imported.

But I am more interested in the foreign income tax.

But the thing is I never withdraw my money back to Malaysia at all. So I am eligible to be tax since the money never come back to Malaysia at all.

This post has been edited by Ramjade: Oct 30 2021, 09:39 AM

https://assets.kpmg/content/dam/kpmg/my/pdf...ing-for-all.pdf

More on foreign source income.

Tax residence of SREITs in SG, tax residence of US companies in US. So need to pay anyhow? Next year also got TIN, they can check with OECD your overseas bank account etc.

Since the payor company is determinative, we should not have to pay? Deemed to have paid at company level as in single tier thing?

If everyone argue like that then LHDN would have collected nothing SG and HK certainly single-tiered taxing. Not so sure about US.