Nov 16 2021, 11:51 PM
QUOTE(MUM @ Nov 16 2021, 11:00 PM)
just found this,...
Income vs capital
The first hurdle to cross is to determine whether the monies remitted into Malaysia is income or capital: Income is taxed whilst capital is not.
Taxpayers are going to have difficulties in dealing with this issue since the monies would have been accumulated over a long period of time and unless you have good records, you may have difficulty in arguing that the amount remitted is capital in nature.
What income is taxable?
All types of income will be taxable, and this will include dividend income, interest income, rental income, pension income, employment income, and annuities even though some of these types of income will not be taxable in Malaysia if the income had arisen in Malaysia.
An example would be dividend income paid by Malaysian companies will not be taxable.
more
How is foreign sourced income taxed?
https://www.thesundaily.my/business/how-is-...taxed-AB8535064
Is the budget officially passed in parliament?Income vs capital
The first hurdle to cross is to determine whether the monies remitted into Malaysia is income or capital: Income is taxed whilst capital is not.
Taxpayers are going to have difficulties in dealing with this issue since the monies would have been accumulated over a long period of time and unless you have good records, you may have difficulty in arguing that the amount remitted is capital in nature.
What income is taxable?
All types of income will be taxable, and this will include dividend income, interest income, rental income, pension income, employment income, and annuities even though some of these types of income will not be taxable in Malaysia if the income had arisen in Malaysia.
An example would be dividend income paid by Malaysian companies will not be taxable.
more
How is foreign sourced income taxed?
https://www.thesundaily.my/business/how-is-...taxed-AB8535064
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