Hi all.

I am looking for a way to reduce my total taxable income to save more money. I have a daily full time job in Malaysia and a part time service-based freelance foreign income. What is the best way to save on tax payable? The freelance income is recurring monthly and TT to my bank account from US but amount is not fixed. May I know which is the best option below?


Option 1:
Find a job in Singapore and stay there since the tax rate is lower than Malaysia. Thus, reducing my total taxable income while the freelance income remain TT to Malaysia bank account. In other words, income tax is file in both countries. Is that possible?


Option 2:
Open a sole proprietor/Sdn. Bhd company. Outsource my work as project based to foreign people in other country around the world. The outsource work will be use as deduction for business expenses.

There is very little expenses can be deduct since the service work can be done at anywhere. Maybe require to purchase softwares or server hosting as business operation also.

In order words, this term is apply only when the person is physically work at there. The tax should have been file at there also. So, when transfer back to Malaysia is exempted from tax and consider as transferring from own account, not directly from company.