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 Income Tax Issues v4, Scope: e-BE and eB only

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vin_ann
post Apr 28 2016, 11:35 AM

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Just login to my e-filling recently....

noticed change of layout...

will click submit by this Saturday!

there is no extension for submission right?
vin_ann
post May 2 2016, 08:22 AM

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QUOTE(danieljaya @ May 1 2016, 10:01 PM)
How many days you exercised employment in Malaysia ??
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Wan to ask the same question! Count the number of days he works in Malaysia to see whether he qualify as Malaysia tax resident or not.

But then even you stay more than 180 days in Msia, ur source of income is foreign derived, thus no tax also.

QUOTE(afeefaminuddin @ May 1 2016, 10:13 PM)
roughly 3-5 months. depending on the job. sometimes stay few weeks then travel to indonesia/australia. then travel back to malaysia/singapore.
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If u stay less than 180 days in Msia in total, you are not Malaysia tax resident, thus no need report ur revenue.

U stick to ur SG filling. Best if u can check with ur HR for advice.


vin_ann
post May 8 2016, 11:29 PM

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Btw, this morning wake up i saw email from LHDN sending email reminder that i yet to submit my e-filing.

Without delay, i submitted my e-filing today, pun intended to do so.

Was surprise to see LHDN sending email reminder!
vin_ann
post Nov 27 2016, 09:07 AM

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Want to confirm on PRS.

If I contribute RM3k before Dec, I able to get tax relief RM3k for my YA2016 tax right ?


vin_ann
post Dec 1 2016, 06:47 AM

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QUOTE(cklimm @ Nov 29 2016, 07:36 PM)
Hey guys, I have been doing online surveys these few months, and paid in US dollars, by foreign registered companies, the sum is around hundreds now.

Do I need to declare it in the upcoming tafsiran?
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QUOTE(Babylong90 @ Nov 30 2016, 11:14 AM)
Hi there,

Generally, any income that you earned and derived from Malaysia (regardless your employer is registered in Malaysia or not, or your salary is in which currency) shall be declared as income and tax in Malaysia.

Back to your question, I will say that you should declare your income although the amount is immaterial. You know, IRB officer have the right to impose penalty nowadays if they found out that you submit incorrect return smile.gif
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Foreign income is not taxable.

vin_ann
post Dec 1 2016, 12:18 PM

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QUOTE(klthor @ Dec 1 2016, 11:16 AM)
would you mind to explain what do you mean by foreign income? and why is not taxable?
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Foreign derived income is not taxable.

Paid by foreign company, task performed outside Malaysia soil.

That's all.
Unless the law changed.
vin_ann
post Dec 1 2016, 12:39 PM

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QUOTE(BboyDora @ Dec 1 2016, 12:35 PM)
Not so sure about it but what i heard even income from paypal is taxable. correct if im wrong.
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Income from PayPal ?

Are money sent from Msia company to ur PayPal ?

You heard of it, have you confirmed with any tax friend?
vin_ann
post Jun 26 2018, 10:13 AM

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hi all,

wan to ask:
i been helping my grandma submit her e-B, this year (2017), she said will be her last submission and already no longer have business income.

wan to ask on how i can tell IRB that my grandma is cease to have business income and wont be filling next year (2018)
vin_ann
post Jun 26 2018, 11:40 AM

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QUOTE(MUM @ Jun 26 2018, 10:52 AM)
while waiting for value added responses....hope this helps to provide you with some guide.....
http://lampiran1.hasil.gov.my/pdf/pdfam/FA..._11042011_1.pdf

(Q26 page 6, may of interest)
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after clicked it show: Tiada Maklumat Untuk Dipaparkan.
vin_ann
post Jun 26 2018, 08:08 PM

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QUOTE(MUM @ Jun 26 2018, 11:42 AM)
click link from  post 4083
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Thanks.

Q26: I have ceased my business two years ago and I have no more income but I am still receiving the Form B. Do I need to fill up the Form or just return it back without filling it up?

A26: You are required to complete the Form and return it to IRBM before the due date. Kindly notify the IRBM branch that handles your file that you have no more income and not to issue any Form B in the future.

in the answer did not mentioned how to notify, is it by way of fills up form and hand in to the branch?
vin_ann
post Aug 7 2018, 10:03 AM

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QUOTE(Mrkoala @ Aug 5 2018, 02:50 PM)
thanks mum biggrin.gif

now it raises new question, does the witholding tax only applies to interest amount earned from the principal above 100k? Lets say i put 200k and earn 4 percent a year. the first 4000 is tax free and the next 4000 is subject to the 5 percent tax.

If the above mentioned scenario is not the case, i already could forseen a way around it. continue from the scenario above i could split 200k into 2 fd with 2 different banks.

but than again i am not conversant in malaysian taxation law, and if a 10 years old could work out a way around it, chances are Hasil ( your tax man ) knows about it.
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No need worry.
It's call tax planning

Plan your FD
You even can split into 4 of 50k
Or 20 of 10k

Last time my tax lecturer told us, the best method is split into minimum FD amount....

when have emergency, can just take out 1 of many FB... Without forgone interest for rest of FD
vin_ann
post Dec 7 2018, 12:34 PM

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QUOTE(cherroy @ Dec 6 2018, 04:00 PM)
If those funding societies are not approved financial institution like banks (for tax exemption), then, yes, those interest earned is taxable.
.
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FS is not approved financial institution but under SC approval

If FS can be approved financial institution status, a lot of investors will be happy !
Even current return can be as high as 12% but after pay tax, it's just slightly higher than FD

vin_ann
post Jun 17 2019, 03:07 PM

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dear all sifu,

wan to ask:

my dad passed away last year, my mum asked me to write letter to LHDN informing my dad is passed away, and wish to close tax file.

anyone have any template to share / or procedure to close tax file?

Thanks.
vin_ann
post Jun 17 2019, 03:54 PM

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QUOTE(MUM @ Jun 17 2019, 03:27 PM)
does he has any unpaid taxes?

Malaysians should pay all taxes owed before their death to avoid having their families penalised over the unpaid sums, the Inland Revenue Board (IRB) has said.
https://www.malaymail.com/news/malaysia/201...h-death/1469033

C. Income tax treatment of a deceased estate and beneficiaries
https://www.accaglobal.com/pk/en/student/ex...cles/death.html
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Thanks for very comprehensive info links


 

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