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 Income Tax Issues v3, Anything related to Personal Income Tax

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chiew
post Mar 31 2014, 05:57 PM

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From: Penang


i have a sole proprietor business. Most of the income is from retail sales overseas (income from overseas sales, and paid to paypal or TT into Malaysia bank account).

I found the excerpt below, but would like to make sure if the income from these sales are non-taxable?

Thanks!

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Malaysia also follows a territorial system of taxation whereby companies are taxed on Malaysia sourced income. Resident companies are exempted from income tax on foreign-sourced income remitted into Malaysia, except companies in the banking, insurance, air or sea transport industries.
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chiew
post Apr 7 2014, 11:37 AM

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From: Penang


I would also like to check if oversea sales for a sole-proprietorship is taxable? I sell things online directly in Singapore (the items was delivered from China/Hong Kong to the customers, not originating from Malaysia). The money was TT to my Malaysia bank and paypal.
chiew
post Apr 27 2014, 11:27 PM

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Joined: Nov 2004
From: Penang


If I have an insurance policy that is categorized as Life/Medical, can I split it to claim as follows:
60% claim as medical policy.
40% claim as life policy?

Thanks!
chiew
post Apr 29 2014, 10:26 AM

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I have receipt for my father's medical examination fee in BP Lab. The girl at BP Lab told me it is tax-deductible as parents' medical expenses; but based on the description on hasil website, I'm not very sure if it really fits the criteria......

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