dwrk, i'm in same shoes, i'm a non tax resident now, all saving are offshore. But eventually will need to repatriate those fund back for living expenses at retirement.

I really don't see IRB have the capacity to differentiate which income are earned before 2022, they will tax as long as the income is remit to Malaysia on Jan 1 2022 onwards.

If you are in those countries where Malaysia had DTA treaties, then can apply for certificate of residence to avoid the duplicate taxation.

gonna argue that old money is foreign savings... not sure can win case... lol... got bank statements and tax forms... can easily prove you're remitting old money...

an example is esos and share awards... if my tax has been paid when given and on vesting... when you remit the proceeds it should be tax free... anyways...

ignore 1st para above

lawyer says only remitting capital no fsi tax... those were locally sourced and tax had been paid

This post has been edited by dwRK: Nov 13 2021, 12:18 PM

I guess as a start, keep a copy of overseas bank statements as at 31/12/2021.

It will be tedious explaining to the 'pegawai hasil' which is capital and which is dividend and furthermore, which is capital gains. You'll have to show your income statements and balance sheets from the foreign jurisdiction.

Bros,... I think,... there will be a time given for ea taxpayer to bring back ALL capital amts TAXFREE. After that cutoff date, anything else that is remitted back will be taxable.

The above was the first step the Widodo gov't did many years ago.

So many discussions on this matter,... LHDN readers here shld reimburse us for helping them to cover all possible corners of implementation.

But never mind-lar,... it's our national service here, since we don't need to go out there and carry arms to defend the ctry.

imho quite simple lah...

just keep record of total $ exported... as long as $ imported is less... call that capital lor...

What a joke

We know our currency has depreciated like sxxx against the SGD. There will be realised forex gain is the money was sent back to Msia. Is this taxable?

Definitely not, otherwise those Malaysians currently working in SG...

Forex is not "income" too unless you are a trader.

bring back cpf is taxable... most likely top up tax... not spared...

Forex gain/loss is included in local company taxes... not sure about individuals... IRB says any $ remitted is taxable unless it has been taxed locally prior

des why ppl if not scratching head is banging the wall...

CPF forex part is taxable? Don't scare me.

Pubic hair also dropping. IMHO the biggest problem is having the records to prove to IRB that gains are not income but capital in nature. The headache may be too much might as well start remitting before 1/1/22 nanti health suffer kena worse than tax, stress not good for health man

I will just print out my IBKR dividend statements and bank statements (interest from SG banks). The rest I won't bother. But if currency gains due to depreciation of MYR against SGD is really beyond my control, taxing that is very unfair.

you go work in SG... when retire got SGD 2m and CPF 2m... all SGD 4m is taxable when remitted

this my current understanding ah per the lawyer brief... he mentioned this case

Sg bank interest is pretty negligible. You think govt care it's fair? They just want your money.

So CPF is treated as "income" then. Noted.

you migrate to SG probably won't come back lah...

If already retired can slowly bring back sgd without tax mah...

by that time surely got new tax laws...

anyways this fsi not yet passed... dunno the fine prints...