The authorities eg. Bank/LHDN will come after you for questioning if they found sum of huge money credited into a person's account from unusual creditor to check for any money laundering activities.

what is your username? Can do cash...

Singaporean is now 90% on cash transaction by f2f

wondering how to deal f2f. When meet, buyer give seller money, then seller only transfer? how to know buyer/seller is sincere, like maybe some buyers play play only

If the "work" is done outside of Malaysia, then yes. If you did the trade in Malaysia, even though the platform is overseas.. still considered you did the work in Malaysia.

How they going to trace those who didn't declare???

Bank account transactions.

For instance, you receive RM3K from employer every month, you fill in the tax declaration form yearly. Out of a sudden, RM100K straight into the bank.

This post has been edited by UserU: Feb 21 2021, 03:41 PM

I think need to cash out slowly. Don't request one lump sum 100k lol.
Should be ok I think

Yup, or better cashout through more "lenient" banks.

Generally they don't, if its a small sum. Not even worth their time to investigate you.

What gets you is when you suddenly start buying houses, cars, etc that your income tax bracket can't support... then you might get flagged for investigation.

Bumping this thread.

I would like to ask, would it be better to call your bank and clarify with them regarding withdrawal procedure into your personal account?

I don't mind paying tax and declare it as income from trading. As far as I know, we dont have trading tax for stocks and maybe for crypto we might need to pay some of it but that also not set in stone, so perhaps may need to contact lhdn for clarification as well.

Hi ,

Would u mind sharing any info that u gather regarding on how to cashing out from binance while abide to the law.
I don't mind paying tax and stuff ,just it will be so much hassle if we withdraw our hard earn money trading yet have to go through all the questions by bank negara and lhdn.