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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
1,160 posts Joined: Nov 2016 |
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Jul 22 2019, 03:19 PM
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Junior Member
563 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
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#26
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Junior Member
800 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
673 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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