was their prediction correct in 2019 CNY?

to further complicate matters, the tax treaty should be with US and not Malaysia. Since our accounts are custodian accounts, it is US that matters for tax treaty considerations, not Malaysia.

Emm,... no bro,... the nationality of the final beneficiary is the key, not the country of domicile of the custodian,...That's is why,... we need to input our nationality when we first opened accounts.

Why is that fella not replying ?

After I go off here,... I can't debate with him anymore,..... nowadays, quite busy and not much time to log-on.

But then what about Takudan's reply from IB?

Good to see you again, bro,... been sometime,...

I'm still holding-on to my 3 tranches of AUDJPY,... I forgot abt them until my debate with Ramjade started this evening and after seeing your post/greeting,...  

Hansel

https://forum.lowyat.net/index.php?showtopi...ost&p=102419542
So IB is wrong?

I am not a lawyer though. PM Hansel but no reply... Maybe need to give him some room to relax.

Ok, so IB is not correct lah. In the end it is the beneficiary's country of origin (Malaysia) that matters for tax treaties consideration. I find it not very fair that I need to pay fees if the law of Switzerland etc. already establish a treaty with Malaysia. The cost of getting my fees exceed the amount that I can claim back, not economical... Ridiculous

It is like the treaties are there for no reasons and useless.

Ohh,... okay, nvr mind,... I will chk,....

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.

Gonna give up my Malaysia citizenship soon... 

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.

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?

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?

Meaning if the company paid 25% tax for you, and your tax bracket is 15%, the LHDN pays you the extra 10% over payment? 

Bro, you can get the free share, sell it and cash out straight away. I know of one Singaporean guy doing that with his wife. Instant I think 10% ROI. There's no penalty for doing it. Back when it only required SGD2500 of deposit. That guy did the above but still keeping the moomoo account. #truestory 

You can then close account if you don't want to use them and withdraw all your money. Again no penalty.

That's what some people in the US do. Farming free cashback from new sign up credit cards and free stocks from brokerage.

When people give you free money, take it. Don't turn down free money.

It's not ethical but hey the company is the one throwing out free money.

Interesting stuff you have there. So no need to worry about tax as long money does not go back to M'sia. 

Thanks for clarification.

So local UT/companies dividends will also be taxed then, if the government wants foreign-sourced and brought-in ones stuffs taxed.

ASNB and EPF will be exempted I guess, otherwise millions of people will raise a big row.

i am listening to EY budget seminar.
The MOF director has indicated that they are are still many hurdles and clarifications to be made on foreign sourced income.
Challenges will be any money retrieved from overseas and their source. How to go about this especially if if they are gifts to loved ones?

Isn't Shearn Delamore a law firm?