Ok,... tq for clarifying, bro,... this means if you are bringing back capital and profits, no need to fill up the declaration form, right ?

correct

B3. Sekiranya pendapatan yang diremitkan adalah terbit dari laba/keuntungan modal, adakah tertakluk kepada PKPP?
Pendapatan yang disimpan di luar negara yang diremitkan ke Malaysia dan bersifat modal adalah TIDAK tertakluk kepada PKPP.

This post has been edited by dwRK: Dec 17 2021, 10:03 PM

Great news, bro,... thank you,...

I think other forummers here need to thank bro DWRK too for this critical piece of news. Well,... it's critical for me,....don't know abt you guys,... so, if I am questioned for whatever I transfer back,.. and I have the documents to prove I bought into something and then later, I sold the same thing for a profit and the amt I remit back lies within that profit range, it's capital gain !

Cool....

np... i no need thanks lah bro... i study this faq gao gao... still got some ambiguity... lol

anyways... 2nd important thing to most folks here... foreign dividends are taxable, but can claim tax credits...

the question did asked about "keuntungan modal"
but the answer just mentioned "bersifat modal"
bersifat modal = capital....
there is no mention about gains/profits in the answer??


Attached thumbnail(s)

laba = profit

whilst not specifically mentioned... i'm reading the whole B.3 Q&A as a whole

i think currently there is no capital gain tax,...
thus maybe that is the reason they did not mention it in that answer
if in future there is capital gain tax imposed,...that answer can still stay valid

i think they purposely use the "bersifat modal" here carefully... because if you are active trader, the profit is considered income and not "bersifat modal" ... this stop some smart ass trying to be funny...

Oh I interpret his message as whether need to file for tax in M'sia when remitting back in. If not, just ignore right?


I have a question for 2 sifus. What if in 2022 onwards, I reinvest all the dividends/interests into stocks/bonds etc., then it will become "modal" for 2023, and I take dividends/interests in 2023 reinvest again in stocks/bonds. If this continue until say I am preparing to retire in Msia, then I bring back all my money, so all my past years of "dividends" which are reinvested are considered "modal" and only the dividends/interests from the very last year before I come back is taxable, is that correct?

Or all the earlier years' dividends/interests are also taxable?

This post has been edited by TOS: Dec 17 2021, 10:44 PM

lol... how you wish... hahaha

say from 2022 until you retire... you have received 100k dividend... technically 100k is taxable... but you legally need to keep 7 yrs of record... so depending on if/when you get invited to yum char with irb... the last 7 yrs are the taxable dividend... just tell irb these dividends are still kept overseas lah... you just remitting capital... lol... once you bring back all your capital and profits, you can slowly bring back your dividends below taxable threshold... so essentially is also tax free when you spread it out 3-4 yrs... lol

but i may also be wrong in my understanding...

This post has been edited by dwRK: Dec 17 2021, 11:04 PM

Ah 7 years, Yes. I am still far from retirement. So I can escape decades of dividend/interests taxes.

don't forget your dividends have been subjected to wht... you can claim credit for this... so the top up tax is not that much lah even if need to pay... and for US investors paying 30% wht... no need to pay anymore...

issue is no tax treaty with US... but i think IRB will close one eye here...

This post has been edited by dwRK: Dec 17 2021, 11:15 PM

Another question from me is, if I receive dividends/interests and don't plan to/have not remitted them back to Malaysia, I don't need to file for tax right?

(I know I don't need to pay anything, but what about "filing"? I was told "filing" for tax is not the same as "paying" for tax.)

filing means letting IRB know how much you gonna pay...

better migrate only , what use come back malaysia ?

Better wait for demolish lah...

This turtle can't last long....haha

I am not Malaysian but I am tax resident in Malaysia. Question for the experts.

If I leave my foreign sourced income outside Malaysia and live off savings that are already in Malaysia then I presume I have no tax liability while I am living off my Malaysian savings and have no need to file anything with IRB. Is this correct please?

Just my uneducated guess on your question posted..... While waiting for qualified responses.

Isn't your scenario similar to
1) a "retired/unemployed" Malaysian with tax resident status in malaysia
2) has money overseas not bringing it back
3) living off saving that is already in malaysia

If you hv been filing tax returns, you will still need to continue to file it with "0" income number in the income tax rerurn... File it yearly until you tell lhdn to close Yr tax file as you are no more having income
Just not sure how that will impact your visa to continue to stay here, unless your are staying here under "retirement" scheme (mm2h) or dependent pass visa

This post has been edited by MUM: Dec 18 2021, 12:05 PM

You only file what is assessable and then taxable.

If you file more than is necessary, then you are revealing more than you need to, and the assessment officer will have more than the proper work to do.

Somehow, I feel these claims that you will be forwarding will have a hard time convincing the officer not to tax us more than what will be subjected to.