not sure if this is relevant,...
from post 167,

excerpt,
The repeal of this exemption could have significant implications on the post-tax returns of investment vehicles in Malaysia that have built up a portfolio in non-Malaysian securities and instruments.

Where these investments currently provided tax exempt income in the form of foreign interest, coupon, and dividends; moving forward, this income would be taxable at 24% effective from Jan 1, 2022.

In the short term, this means a 24% haircut on the investment returns of these vehicles will be borne by the investors when the profits are distributed.
https://www.thestar.com.my/business/busines...ment-management

maybe and hopefully,...those Govt linked entities will have special treatment

if you are resident Malaysia and the "economic activity" is in/from Malaysia... you pay tax per your normal filling.....it doesn't matter where it's banked in or you remit or not.

what if i do investment in M'sia like Unit trust funds or SA/Wahed/etc....that focused in overseas...i think that is also economic activity and this economic activity is in/from Malaysia
i don't pay tax per my normal filling

the dividend distributions of the unit trust from the gains and dividend income received in the holdings of the UT .....are reinvest
if the UT fund or SA/Wahed/etc did not remit income back (when i don't redeem) then it does not matters or does matters?

This post has been edited by yklooi: Nov 19 2021, 10:51 AM

good scenario,...
if i have lhdn undeclared money overseas,...i used that to buy property,...i mortgage that property (loan money),...take that "loaned" money back to Malaysia with all the paper work of that loan...

Loan is serviced in the country of loan origin,... While earning income n pay taxes there. Maybe if can use to offset some taxes for loan repayment too 🤔🤔 ( like offset interest on loan when seeking rental income tax rebate in msia)
Loaned Money back to msia if can no tax 👍👍

🤑🤑😁

This post has been edited by yklooi: Nov 24 2021, 03:19 PM

if you meant "employment" income for example?
if yes, try read post 248 just posted by MUM above.

but i guess the final say on these scenario are yet to be from MoF or LHDN..maybe they ar still not yet finalise all the FAQs questioned being given to them

This post has been edited by yklooi: Dec 16 2021, 11:23 AM

Read post 248,
working in Spore,...pay Spore tax,
but he is a M'sia tax residents bcos he is staying in JB
current tax regime no need to pay Msia tax,....BUT
next year kena tax if the income are brought back....

but i guess the fianl say on these scenario are yet to be from MoF or LHDN..

i think, they won't just "exempt" or make U turn for any one particular country....
but more to (hopefully) like those of HK.... where their amended laws ...

".... target corporations, particularly those with no substantial economic activity in Hong Kong, that make use of passive income to evade tax across a border. Individual taxpayers will not be affected. As to financial institutions, their offshore interest income is already subject to profits tax under the Inland Revenue Ordinance at present, and hence the legislative amendments will not increase their tax burden."
https://www.tax-news.com/news/Hong_Kong_To_...e____97984.html

there is a recent posting in post 29266 at FSM thread
https://forum.lowyat.net/topic/4193169/+29260#entry103127278
the mentioned product has a new 24% taxation targeted corporation but not individual..

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

there is a FAQs post on the PKPP
try post 273, page 14.

hope the answers you seek are there

👍
But yet there are some like me, came back to work, when at age 50 still working in Msia, can withdraw CPF....

not sure if this a valid/right/correct response.
but i have no employment income for the past few years, living off my "saving" in Malaysia and had also continued to submit my income tax returns yearly.....(declared as "no income")
so i see, your case and my are almost similar, thus no need to open a tax file......
unless the amount of your live off the saving is extremely large and if you want to buy a big asset with cash

btw,...interest from deposit from M'sia banks are tax exempted..

is that "OLD" news/system?
YES,...tax free last time....
now with the the soon to be implemented foreign sourced income tax starting 1 Jan 2022...
things will still be the SAME as before?

This post has been edited by yklooi: Dec 27 2021, 10:13 AM