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SGX Counters, Discussion on Counters in the SGX

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dwRK	May 2 2025, 11:06 PM Return to original view \| Post #21
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Hansel @ May 2 2025, 06:26 PM) Hi bro,... Appreciated your write-up in the above. I have checked with the tax authorities, they told me to just read the ann'ts,.... so that's what I'm doing,... No need to beg-lar, bro,... tax is a normal thing is life,... Big editing here : 'The document' has changed from when I last saw it. tax will be paid... being nice will help with the fine/penalty
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dwRK	Jun 1 2025, 09:43 AM Return to original view \| Post #22
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Jake2 @ May 31 2025, 02:58 PM) 5.2.2.2 mentions something of importance here: Since the forum topic here is 'SGX Counters', let's note that Singapore does not have Dividend Withholding Taxes. Hence, if you bring in Singaporean Dividend payments into Malaysia, those dividends were not subjected to Singaporean tax due to that country's taxation system. From the quote above, I conclude that Malaysia -although no tax was paid in Singapore - considers the dividends to have been taxed in Singapore anyway and therefor Malaysia will not tax these either. In simpler words, Malaysia considers the Singaporean dividends to have been taxed, albeit the tax was 0. Am I reading this right ? this is how i read it... stock dividends are from company profit after tax... so tax has been paid, and these dividends are not taxable in sg locally our fsi qualifying conditions clearly says if its not taxable in sg, it is exempt from my tax for now... considering the div to have been taxed at zero is incorrect even though the effect is the same sg reits is more complicated... because the dividends are distributed at gross... so one need to understand the tax notes that goes with each of them as there are conditions where they are taxable... Jake2 liked this post
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dwRK	Jun 1 2025, 03:49 PM Return to original view \| IPv6 \| Post #23
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Hansel @ Jun 1 2025, 02:57 PM) I am hoping Jake is right,....... ,... because I earn SG divdiends,.... But, I think best is not to remit funds back to Msia. Find ways to spend in Malaysia with a foreign credit card. swipe foreign card is deemed to have remitted back... its mentioned in the guidelines... no loophole here...
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dwRK	Jun 4 2025, 11:53 AM Return to original view \| Post #24
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(ShinG3e @ Jun 1 2025, 11:56 PM) Snapshot of guideline pls 🙏🏻😮‍💨 QUOTE(Hansel @ Jun 2 2025, 01:29 PM) Thank you for pointing out, bro dwrk,... Yeah,... need to see the guidelines here, pls share the guidelines,... ...this raises a lot of questions now,... if swiping a foreign card to pay for a product that is used in Malaysia, is this considered as remitted back ? How abt if the product is to be used overseas ? Then,... if swiping a foreign card to buy an airticket to travel from KL to Vancouver,... is this called remitted back too ?... if merchant is Malaysia based and your cc payment goes to their local account... i would say it is remitted back... doesn't matter if you buy local but use it overseas so if you swipe your uk card and buy ticket from airasia malaysia, yes remitted back... but not if buy from airasia singapore MasBoleh!, MasBoleh!, and 4 others liked this post
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dwRK	Jun 4 2025, 09:48 PM Return to original view \| Post #25
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Hansel @ Jun 4 2025, 04:52 PM) Thank you very much for all the above, bro dwrk,.. Ok,... Looks like we need to buy things from overseas merchants then,... egs :- 1) Buy airtickets from non-Msian-based airlines. 2) Buy items from outside and ship them back to Msia which means we will incur freight charges. 3) Can't think of anything else, but I'm sure as time goes on,... will think of something. Emm,... if we are sending funds to our friends in Msia, ie to the friend's acct,.. is it still termed as remitted back ? Like.. giving angpows for a major event,... keep your div overseas and buy more shares... sell 1 or 2 of the "original" shares if need money... bring that home instead since capital n gains are not taxable... and you now have new documentation your angpow gift may be flagged by the bank for aml and your friend issued a show cause letter... i sent waifu 1 kusd was ok... 10 kusd got flagged... had to submit my source of funds and tax records as well as marriage cert to her bank... your angpow is definitely money remitted back but i dunno who bears the tax burden... your friend may get flagged again for random audit by irb for unusual money movement... to you maybe angpow for a big wedding but irb dun care... ps will try to answer your other questions tomorrow... i wanna read the amended guidelines again to be sure... MasBoleh! liked this post
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dwRK	Jun 7 2025, 06:49 PM Return to original view \| IPv6 \| Post #26
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	Jake2 1. company was sold 20 yrs ago, say 2005... during this time fsi is 100% tax exempted... so money from the sale is not subject to tax when remitted... 2. statutory limit is 7 yrs... new fsi exemption started 2022... so as a minimum you need financial records from 2018, and track any taxable fsi from 2022... imho... you should be ok... just need to make sure you have all the proper documentation... best confirm with lhdn This post has been edited by dwRK: Jun 7 2025, 06:53 PM Jake2 liked this post
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dwRK	Jun 8 2025, 02:40 PM Return to original view \| IPv6 \| Post #27
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Hansel @ Jun 4 2025, 05:03 PM) Bro, going back to your above points, can you help with my additional questions ? QUOTE stock dividends are from company profit after tax... so tax has been paid, and these dividends are not taxable in sg locally Ques : The dividends from the SG companies are paid out taxfree to shareholders because taxes have been paid at company-level. The conditions state that income remitted back are only taxable if taxes have not been paid at the source jurisdiction. Does this qualify as taxes have been paid earlier at the jurisdiction? our fsi qualifying conditions clearly says if its not taxable in sg, it is exempt from my tax for now... considering the div to have been taxed at zero is incorrect even though the effect is the same Ques : Why do you say : it is exempt from my tax for now ? From our much earlier discussions, there was a condition that says dividends remitted back are still taxable if taxes have NOT been paid at the source ctry ? there are two types of dividend in singapore... non-taxable from stocks... taxable from reits... so one needs to be careful when referring to "sg companies"... when you say "The dividends from the SG companies are paid out taxfree to shareholders because taxes have been paid at company-level."... is not 100% true... example: our fsi guidelines has this qualifying conditions for tax exemption... so imho for reits dividends has not been taxed at source level but there is a further clause that may help in some situation... QUOTE (ii) Foreign dividend income is paid from underlying profits arising out of operating profits which has not been subjected to tax due to: (A) Unabsorbed losses or capital allowances; (B) Arising from capital gains; © Enjoyed tax incentives in compliance with substantive requirements in the country; or (D) Tax regulations under the tax consolidation regime in the country of origin. so for the above one really needs to understand the tax notes that goes with the sreit dividends... i mentioned for now (2025)... in references to our exemption ending 2036...
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dwRK	Jun 8 2025, 02:51 PM Return to original view \| IPv6 \| Post #28
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Jake2 @ Jun 8 2025, 12:30 PM) Thanks for addressing the question. Indeed, I have documentation for the existence of the initial investment both in 2018 and 2022. I will likely discuss this first with a tax-advisor and then approach lhdn with their assistance. I noticed that Thailand is handling the same issue of remitted income taxation. After a lot of upheaval, Thai tax authorities announced a Grandfathering Provision: Income earned before 2024 remains under prior rules—if remitted after the year it was earned, it is not taxable. I think it might be helpful if Malaysia issued a similar statement. It looks like Malaysia had a similar grandfathering provision from the start, however it is very hard to confirm that from public sources. np... your 1st hurdle is banks' aml / bnm reporting... you will definitely be flagged here and need to prove your funds' legitimacy... as for tax submission, there is no provision to report 20 yr old stuff... you just need to do your due diligence in case you get audited and have answers for everything they might ask...
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dwRK	Jun 8 2025, 03:30 PM Return to original view \| IPv6 \| Post #29
the consummate chartist Senior Member 6,227 posts Joined: Jun 2006	QUOTE(Hansel @ Jun 6 2025, 04:39 PM) Bro,... somehow,.... my instincts tell me,... the officer wouldn't want to spend too much time scrutinising all our documents to determine which are dividends (which are taxable) and which are capital gains (which are non-taxable). They will just tax across the board, all the 'equity-related' funds you declare as remitted back... And secondly, if really they will scrutinise,... then lots of people would have lots of capital gains to show throughout the years of investing overseas. Furthermore, how are they going to track if we show the same capital gains TWICE ? Are they going to match back our earlier capital gains have have ALREADY BEEN SHOWN ? What do you guys think ? trust me when i say the officer will spend as much time as needed to scrutinize your documents... its a 9-5 job for him/her... and like any other organization, he/she wants good performance review to get ahead... nothing better that catching tax dodgers irb will show you their calc and penalty... you will have a chance to counter it and agree to some numbers... onus is on you to prove it since it is to your advantage to pay less fine... QUOTE(Hansel @ Jun 7 2025, 01:44 PM) In fact, if we are certain the funds that we remit back are not taxable, we shld not even include these funds into our BE Form. However, I stand corrected in this thinking. our tax guidelines say we must declare even if the income is not taxable... QUOTE(Hansel @ Jun 7 2025, 07:10 PM) This brings me to what the previous Indon president did. He gave a certain period for the Indon citizens to bring back their funds taxfree into Indonesia before the taxation starts. I'm not sure if the Msian govt did this. Malaysia... 1. we will implement fsi soon in 2022 - rakyat wait and see... did nothing to remit funds (the tax free period) 2. ok we give flat rate 3% tax for 6 months - rakyat object... did nothing to remit funds 3. ok we extend exemption to 2036 - rakyat rejoice... not doing much to remit funds ( i think ) ... also there is a window of opportunity... between budget announcement and being tabled and made law... buffa and wongmunkeong liked this post
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