Jan 6 2022, 04:19 PM
QUOTE(kobis19 @ Jan 4 2022, 06:54 AM)
What if I work from home in Malaysia. But I receive my income on PayPal and in USD. Is it only taxed when I withdraw it into my Malaysian bank account and convert it to MYR? Or is it taxable even before it enters my Maybank account?
If the money is in Paypal/wise, they are considered already in Malaysia.But now the government will continue to exempt foreign income from income tax, so I guess it's fine to take back your income to Malaysia?
QUOTE(MUM @ Jan 5 2022, 02:08 PM)
according to the previously published FAQs on the previously was to enforced FSI tax regime starting Jan 2021...(now extended FSI waiver till end 2026)
Can I know where you get this FAQ? I'd like to check it too.QUOTE(MUM @ Jan 5 2022, 06:10 PM)
i could be wrong,...but i found these in google...
INCOME EXEMPT FROM TAXES –
INDIVIDUALS
20. Remittance of foreign source income to Malaysia
Income arising from sources outside Malaysia and received in Malaysia by any person who is not resident in Malaysia (Sch 6 Para 28).
Effective Y/A 2004, exemption on foreign source income is extended to include a resident individual,
a trust body, a co-operative and a Hindu joint family [Sch 6 Para 28(1)].
How To File Your Income Tax As A Freelancer
Note: Income earned from foreign companies, in other words, businesses that are not based or registered in Malaysia, are exempted from tax, as of YA 2004.
Personal taxation:
Basis - Individuals are taxed on income derived in Malaysia. Foreign sourced income is exempt in Malaysia.
For my foreign source income, can I still do e-filing so that I can get the documentation to apply credit card? I checked the BE form but I'm not sure which field should I input my income?INCOME EXEMPT FROM TAXES –
INDIVIDUALS
20. Remittance of foreign source income to Malaysia
Income arising from sources outside Malaysia and received in Malaysia by any person who is not resident in Malaysia (Sch 6 Para 28).
Effective Y/A 2004, exemption on foreign source income is extended to include a resident individual,
a trust body, a co-operative and a Hindu joint family [Sch 6 Para 28(1)].
How To File Your Income Tax As A Freelancer
Note: Income earned from foreign companies, in other words, businesses that are not based or registered in Malaysia, are exempted from tax, as of YA 2004.
Personal taxation:
Basis - Individuals are taxed on income derived in Malaysia. Foreign sourced income is exempt in Malaysia.
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