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This post has been edited by wasp81: Jul 26 2019, 07:04 AM
Declare remote job income in Malaysia
Declare remote job income in Malaysia
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Jul 22 2019, 01:13 PM
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Newbie
8 posts Joined: May 2011 |
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This post has been edited by wasp81: Jul 26 2019, 07:04 AM |
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Jul 22 2019, 02:13 PM
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Senior Member
1,236 posts Joined: Nov 2016 |
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Jul 22 2019, 03:19 PM
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Junior Member
570 posts Joined: Mar 2008 |
QUOTE(Khai92 @ Jul 18 2019, 10:28 PM) First thing is to determine your tax residencyi.e. where you stay for more than 60/90/180 days. If you got any kind of PR then check double tax treaty. But you contract work is definitely taxable, just depends on which country's tax you will pay. I'm incline to say you have to pay in Malaysia given the limited info. Nowadays, it's harder to hide from tax because they have access to your bank account. Unless your employee pays you in bit coin, hard cash or something with no train in the system. |
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Jan 5 2021, 08:41 AM
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Probation
5 posts Joined: May 2020 |
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Jan 5 2021, 03:23 PM
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Probation
21 posts Joined: May 2020 |
I am in your position, I'm freelancing for a UK company earning $3k/month. They pay me through Transferwise which I then transfer out to my local bank account.
Just talked to LHDN on this issue last week, here is what they told me. If your income is taxed from the source country, you will not need to pay double the tax in MY (meaning tax free). But if your income is not taxed from the country of origin (ie, you get the full pay/gaji kasar), you will need to declare and pay the income tax in Malaysia IF you are a tax residence residing in Malaysia for more than 180 days. Pretty sux eh? I though I'd get the zero income tax... 🤷🏻♂️ Oh well, since you're getting tax for it, might as well create your own company to receive the overseas income so that you can actually use it for loan approval lol. (Doing it this year for my overseas income) |
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Jan 5 2021, 10:09 PM
Show posts by this member only | IPv6 | Post
#26
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Junior Member
811 posts Joined: Dec 2017 From: Krypton |
Question though - if you work freelance, are you expected to pay any taxes? If yes, starting from how much income are you earning?
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Jan 5 2021, 11:43 PM
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Junior Member
827 posts Joined: Feb 2020 |
What freelance only. You receive income from house rent to someone also need to calculate into tax
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Jan 5 2021, 11:45 PM
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Senior Member
3,389 posts Joined: Sep 2019 |
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Jan 5 2021, 11:47 PM
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Senior Member
3,389 posts Joined: Sep 2019 |
QUOTE(wadzee95 @ Jan 5 2021, 03:23 PM) I am in your position, I'm freelancing for a UK company earning $3k/month. They pay me through Transferwise which I then transfer out to my local bank account. You pay tax where there money derived. True.Just talked to LHDN on this issue last week, here is what they told me. If your income is taxed from the source country, you will not need to pay double the tax in MY (meaning tax free). But if your income is not taxed from the country of origin (ie, you get the full pay/gaji kasar), you will need to declare and pay the income tax in Malaysia IF you are a tax residence residing in Malaysia for more than 180 days. Pretty sux eh? I though I'd get the zero income tax... 🤷🏻♂️ Oh well, since you're getting tax for it, might as well create your own company to receive the overseas income so that you can actually use it for loan approval lol. (Doing it this year for my overseas income) Non residence is other issue, you pay taxes flat rates. |
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Oct 29 2024, 02:50 PM
Show posts by this member only | IPv6 | Post
#30
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Junior Member
470 posts Joined: Aug 2006 |
QUOTE(cute_boboi @ Jul 21 2019, 11:10 AM) Go do your own self contribution for both employee and employer (11 + 13%) , then submit claim for next month for the employer portion. Unless you are contract based, otherwise do not be stupid and not claim the local benefits. PCB is up to you, else have to pay lump sum duing tax filing. Hi there, sorry for necro-ing old threads, but I need clarification on this.If you have to pay both employee+employer portion, does that mean that you're receiving the salary as a sole prop/enterprise? Also, what do you mean by "submit claim next month for employer portion"? Submit what claim? Claim from who and for what purpose? From LHDN as tax relief? A lot of question marks here. What kind of borang (B or BE) do you file? Appreciate your reply! |
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Oct 30 2024, 08:28 PM
Show posts by this member only | IPv6 | Post
#31
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Senior Member
6,451 posts Joined: Nov 2004 From: [Latitude-N3°9'25"] [Longitude-E101°42'45"] |
QUOTE(Aurora Boreali @ Oct 29 2024, 02:50 PM) Hi there, sorry for necro-ing old threads, but I need clarification on this. Disclaimer: It has been some time and rules may have changed now.If you have to pay both employee+employer portion, does that mean that you're receiving the salary as a sole prop/enterprise? Also, what do you mean by "submit claim next month for employer portion"? Submit what claim? Claim from who and for what purpose? From LHDN as tax relief? A lot of question marks here. What kind of borang (B or BE) do you file? Appreciate your reply! I'm hired as permanent employee (not contractor) directly from overseas with a letter I'm paid in MYR equivalent and the company TT into my back account. The company also agreed to follow local laws then, hence I'm entitled to submit and claim back the employer portion of EPF. I understand in recent years, this is no longer allowed or is illegal. Submit what claims ? I submitted a lot of claims every month then: 1) Claim back the EPF employer portion I pay. e.g. I self-contribute 1100+1300 = 2400. I claim back 1300 the next month. 2) Claim back the TT forex loses. When it is 5-digits, the forex loses can be tens/hundreds. 3) expenses/meals 4) foreign flight+accomodation 5) local travel/mileage+accomodation 6) benefits. For what reason ? If I don't do it, I would lose out on the employer portion every month. I fill up BE at that time as it is not a business. |
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Oct 30 2024, 09:27 PM
Show posts by this member only | IPv6 | Post
#32
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Junior Member
470 posts Joined: Aug 2006 |
QUOTE(cute_boboi @ Oct 30 2024, 08:28 PM) Disclaimer: It has been some time and rules may have changed now. Thank you for your reply!I'm hired as permanent employee (not contractor) directly from overseas with a letter I'm paid in MYR equivalent and the company TT into my back account. The company also agreed to follow local laws then, hence I'm entitled to submit and claim back the employer portion of EPF. I understand in recent years, this is no longer allowed or is illegal. Submit what claims ? I submitted a lot of claims every month then: 1) Claim back the EPF employer portion I pay. e.g. I self-contribute 1100+1300 = 2400. I claim back 1300 the next month. 2) Claim back the TT forex loses. When it is 5-digits, the forex loses can be tens/hundreds. 3) expenses/meals 4) foreign flight+accomodation 5) local travel/mileage+accomodation 6) benefits. For what reason ? If I don't do it, I would lose out on the employer portion every month. I fill up BE at that time as it is not a business. |
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