bro... my understanding of the 10 yr extension (by correction of the old June 2024 guideline section 5, while waiting for the new one)...

5.2 Foreign income received in Malaysia which is exempted from tax from 1 January 2022 until 31 December 2026 2036... so pushed back 10 yrs, but start date remains in effect...

5.2.2.1 All foreign income other than partnership income received in Malaysia by a resident individual from 1 January 2022 until 31 December 2026 2036 is exempt from tax provided the income has been subjected to tax in the country of origin.... if non taxable they don't need all the weasel words after "provided..." and since our 2024 tax form has a section to declare fsi, implies that fsi is active and taxable for some ppl...

5.2.2.2 Qualifying conditions... has a subsection on foreign dividend income... but i lazy to understand it fully since am not vested...

In determining whether foreign income received has been taxed in the country of origin, the conditions are as follows [...] (b) Tax is not imposed in the country of origin due to
certain reasons as follows: [...] (i) Foreign income received in Malaysia is not subject to tax in the country of origin due to the country's taxation system.

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

Emm,... this is easy then. We just take out our brokerage statements to show our capital gains. Capital gains are NOT taxable. So,... is that all ? If it's easy for LHDN, then they just need to accept the brokerage statement. They'll have to accept the statement because it's written there clearly, the buy-low and sell-high figures, and we bring back just the difference.

So,........ is that all ?

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,....

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