Tq for your reply, bro,...

1) To ur first pararaph :

Pt 1 is a certainty, but if you have been actively managing your portfolio abroad, there will be times that you will certainly sell stocks. If you incur capital gain, you can, of course use this to justify the funds you are remitting back. Is there a problem here ?

Pt 2 is abt the initial investment abroad. So it's large, what's the problem here ? Why do we need to prove anything or say anything more abt these assets which we have abroad ?

2) To ur second paragraph :-

This is related to Pt 2 in ur first paragraph, why do we have to prove anymore,... the legitimacy of our assets abroad ? And that all taxes have been paid ? These are all in the past.

What is there to discuss ? To me, this FSI thing is plain and simple,... if we remit back, describe the funds being remitted back and decide if we shld include these into our net income or not. 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.

To your final statement in the above : I wonder if it is possible to discuss my case and potential taxation with LHDN before initiating the remittance and then decide to remit or not based on their response,......

You shld discuss this with your tax advisor. And secondly,... the moment you initiate this move, there are repercussions to it. Your file 'becomes visible'.

Awaiting your inputs, bros dwrk, prophet and jake,....

Ah ok... I should have explained better: I would like to remit the initial investment also into Malaysia.

I believe your comments are valid for remitting the capital gains into Malaysia. However, capital gains are usually smaller than the initial investment. I would rather remit everything into Malaysia to spend it here. However, I will lose my interest should LHDN tax it as income because I lost documentation after 20 years.

I will definitely consult a tax expert too. This discussion is helpful as a broad orientation on the matter.

This post has been edited by Jake2: Jun 7 2025, 05:03 PM

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

Yeah, your clarification was good. We got the context wrong. And our circumstances are different.

Your opinions are very valid and you are right in your intentions.

Who would want to remit everything back if they get taxed, right ? 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.

I preferred to leave my money outside.

Otherwise, if what I remit back is within the lowest tax-bracket of my income tax, my remittance will be,... practically taxfree. Otherwise,.. just pay the tax if LHDN does not look at the capital gains aspect.

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.

This post has been edited by Jake2: Jun 8 2025, 12:31 PM

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...
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...

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...

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...

our tax guidelines say we must declare even if the income is not taxable...

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...

Hey bro,... many, many thanks again for your time taken to do all these,......

To round-up :-

I think,... SG company taxation is quite straightforward - it's whether LHDN accepts the taxation at company level or not. Certainly we hoped they do, let somebody try to argue first.

SG REITs & Business Trusts,... this is more complicated,... there is NO tax against net profit at REIT/trust level, and for individuals and joint accounts, these are normally not taxed too,... so, these would invite tax from LHDN if remitted back becuase not taxed at 'both sides'..

Edited by adding the following :-

I just re-read your writings, bro,... Keppel DC REIT IS A REIT, not a company,... the treatment is obviously different. REITs' manadtes and company 'mandates' are different in SG,... SG REITs fall under the Collective Investment Schemes (CIS).

This post has been edited by Hansel: Jun 8 2025, 07:25 PM

Thanks again,...

And again, to round-up :-

1) To ur statement : trust me when i say the officer will spend as much time as needed to scrutinize your documents...

I agree to the above,... but what would be the motivation of the time taken ? Is it in the interest of the taxpayer,... or in the interest of the tax-collection agency, or by being neutral ? This is most important.

I wouldn't even think of penalty calculations,... since we have put in so much time to discuss all these, we shouldn't be making mistakes at all. A simple way would be NOT to remit back until things are more stable.

2) To ur statement : ok we extend exemption to 2036 - rakyat rejoice... not doing much to remit funds ( i think )

I believed the conditions of : if the dividends or interest have not been taxed at the source location would be subjected to tax if remitted back will be starting in 2027, for YA's 2022 till 2026. There is NO exemption extension for dividends and interest to 2036.

We are talking abt dividends and interest here.

I think ur pts 1., 2. and 3. are more applicable for 'one-time events', unfortunately,.. these pts are not applicable for people who have continuous income being generated overseas.

Bros,... do you guys really think the LHDN will be so detailed to single out for us,.... like this REIT dividend remitted by an individual can be taxed but a company dividend remitted should not be taxed, AND furthermore a Company's and Partnership's REIT dividends shld not be taxed, etc, etc ?

I am hoping the LHDN will,...

And we can just remit back dividends paid out by SG companies. Do not remit back dividends paid out by REITs and Trusts.

It's better to write everything out and make things clear-lar,....

Sembcorp Industries (U96) and Boustead SG (F9D) undergoing Strategic Review now,... F9D may set up a REIT soon.

Centurion has started the process to set up a REIT.

Share prices for these companies have all risen strongly recently, at 52week high or at All Time High... that's how the SG mkt works,...

The sponsors and managers make more money screwing shareholders from REits.

I'm afraid I stand to differ in my opinions here,... Not all REITs and Business Trusts are the same. I made my money from Parkway Life REIT, First REIT, And MLT, to name a few,... My holding prices were low cos I bought early. But of course, if you bought, say,... Keppel Infra Trust early, it won't be good today.

As in everything else, we must be selective.

The GLCs are rising today,....

There are so many noble managers and sponsors. Those which are are no worth investing in, as the risk reward is not of value.
Might as well just buy DBS for now.

Yeah bro,.. on DBS,... sure-fire dividend here,... unless something really drastic happens.

Another one is Singtel for now.

Tq for the reply.

AND DBS hits ALL TIME HIGH AGAIN AND AGAIN

$47.74 AT TIME OF WRITING.....

This post has been edited by prophetjul: Jul 21 2025, 09:31 AM

https://www.straitstimes.com/paid-press-rel...omoney-20250718

DBS conferred three global awards, including the most prestigious 'World's Best Bank' accolade, by Euromoney
Published Jul 18, 2025, 08:00 PM

DBS conferred three global awards, including the most prestigious 'World's Best Bank' accolade, by Euromoney

Also recognised as 'World's Best Bank for Customer Experience' and 'World's Best Bank for Corporate Responsibility'

SINGAPORE, July 18, 2025 /PRNewswire/ -- DBS scored a hat-trick win at the Euromoney Awards for Excellence 2025. This included receiving the "World's Best Bank" accolade, marking the third time that the bank has clinched Euromoney's top accolade since 2019. The recognition is a testament to DBS' solid financial performance, unwavering commitment to customer excellence, relentless focus on innovation and strong sense of purpose. DBS was also named the inaugural winner in the "World's Best Bank for Customer Experience" category and "World's Best Bank for Corporate Responsibility" for the second time.


"At a time of economic uncertainty and rapid technological change, DBS stands out for its future-forward approach, focus on trust and reliability, and proven ability to realise value from technology investments," said Dominic O'Neill, Head of Banking, Euromoney, in its award citation.

"The bank's agile-at-scale transformation has shown fruits in revenues and customer satisfaction, and low staff turnover rates are a result of investing in its employees throughout their careers, and of an underlying sense of purpose, including to social and environment causes. DBS has also demonstrated how banks can steer their organisations towards excellence in customer service. All this has had an impact on its financial results and shareholder returns, which have both reached record levels."

In 2024, DBS' total income of SGD 22.3 billion and net profit of SGD 11.4 billion were both at new highs. Return on equity of 18.0% was one of the highest among developed market banks. The bank was also the first Singapore-listed company to cross USD 100 billion in market capitalisation.

On the customer front, DBS has continued to innovate to make banking simpler, more effortless and highly personalised. In 2024, this included engaging more than 13 million customers across the region through 1.2 billion AI-powered personalised nudges to guide them towards better investment and financial decisions. Last year, the bank more than doubled economic outcomes from AI to SGD 750 million through over 370 use cases. It also continued to mature the way it manages through journeys, improving customer satisfaction, turnaround times and other customer outcomes in the process.

DBS' commitment to corporate responsibility cuts across the environmental, social and governance pillars. To help drive Asia's transition to a low-carbon economy, DBS has committed SGD 89 billion in sustainable financing commitments net of repayments. It has also pledged up to SGD 1 billion and over 1.5 million volunteer hours in the coming decade, starting 2024, to improve lives and livelihoods of the low-income and underprivileged in Asia.

Tan Su Shan, DBS CEO, said: "We are very honoured to be conferred three global awards, including the 'World's Best Bank' accolade, by Euromoney. Innovation and purpose are integral to the DBS culture, driven by our desire to make banking simpler and more effortless for customers, as well as to do real things for real people. To be recognised for our commitment to customers and society, who are at the heart of everything we do at DBS, is very gratifying. We will continue to be that trusted, purpose-driven and transformative partner that everyone can count on."

DBS received its first global Best Bank title in 2018, when New York-based Global Finance named it the Best Bank in the World. That same year, The Banker, a publication by the Financial Times, awarded DBS the title of Global Bank of the Year. In the years that followed, DBS continued to earn top honours, with Euromoney and Global Finance conferring their highest accolades in 2019 (Euromoney), 2020 (Global Finance), and 2021 (Euromoney). This latest World's Best Bank win marks the eighth time DBS has been recognised for its global leadership.

LADIES AND GENTLEMEN,

DBS IS ON THE CUSP OF $49

Last week, I thought $48 is too expensive, and nowwwwwwwww