Nov 17 2021, 08:34 PM
QUOTE(MUM @ Nov 17 2021, 08:20 PM)
bear with me abit longer,...
regarding your this input,...."I was just focussed on what activities were incurred to generate the income.
Factors as in :
where were the activities generated,
who were involved in the activities,
what resources used and the like.
If the factors here have NOTHING at all to do with Msia, then,..... that income generated does NOT berpunca dari Msia."
i read this article,...
https://www.theedgemarkets.com/article/delo...xation-malaysia
"As for the impact on individuals, Deloitte Malaysia said one common situation involves rental income earned by a Malaysian tax resident from a real property located outside of Malaysia.
Citing a rental income from Singapore as an example, Deloitte Malaysia said, this income is an FSI and would not be taxed in Malaysia presently, but from Jan 1 next year, the income remitted to Malaysia would be taxed.
“In this case, both countries have the right to tax.
To avoid double taxation on the same rental, Malaysia, being the country of residence, would grant foreign tax credit based on a prescribed formula that takes into account the taxes paid in Singapore against the Malaysian tax payable,” it said.
However, it noted, the Malaysian resident landlord would still need to pay the net tax to the Malaysian government."
from the above example in that article,...
Factors as in :
where were the activities generated, ....Spore
who were involved in the activities, Rental income in Spore
what resources used and the like. Properties. in Spore..
Thus the factors here have NOTHING at all to do with Msia, and,..... that income generated does NOT berpunca dari Msia."......but according to that article,...the income remitted to Malaysia would be taxed.
You are right in what you wrote in the above, Mum,... absolutely right.regarding your this input,...."I was just focussed on what activities were incurred to generate the income.
Factors as in :
where were the activities generated,
who were involved in the activities,
what resources used and the like.
If the factors here have NOTHING at all to do with Msia, then,..... that income generated does NOT berpunca dari Msia."
i read this article,...
https://www.theedgemarkets.com/article/delo...xation-malaysia
"As for the impact on individuals, Deloitte Malaysia said one common situation involves rental income earned by a Malaysian tax resident from a real property located outside of Malaysia.
Citing a rental income from Singapore as an example, Deloitte Malaysia said, this income is an FSI and would not be taxed in Malaysia presently, but from Jan 1 next year, the income remitted to Malaysia would be taxed.
“In this case, both countries have the right to tax.
To avoid double taxation on the same rental, Malaysia, being the country of residence, would grant foreign tax credit based on a prescribed formula that takes into account the taxes paid in Singapore against the Malaysian tax payable,” it said.
However, it noted, the Malaysian resident landlord would still need to pay the net tax to the Malaysian government."
from the above example in that article,...
Factors as in :
where were the activities generated, ....Spore
who were involved in the activities, Rental income in Spore
what resources used and the like. Properties. in Spore..
Thus the factors here have NOTHING at all to do with Msia, and,..... that income generated does NOT berpunca dari Msia."......but according to that article,...the income remitted to Malaysia would be taxed.
Well,... what Deloitte wrote was before what came out this evening in The Malay Mail. What came out this evening in The Malay Mail contradicts with what were announced by the IRB earlier (hence, I asked the question : what happened to remitted back to Msia ?), and Delloitte's comments above were based on what were written earlier.
If you look closely at the different comments by the different accounting firms, they started to use the same terms after we used them here in this forum, as in the different taxation systems, etc,... looks like our discussions here are front-running their articles.
Quote
,... hmm,... all these years when I KEPT ADVOCATING Msians to open foreign accounts, bank and brokerage, etc,... is RIGHT !
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