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Chat Gov hunt coinminers, LHDN

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Jedi
post Apr 20 2021, 06:15 PM

Pax Et Bonum
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2,245 posts

Joined: Apr 2005
No wonder many beemers on market 2nd hand tapi g20 sunset oren
SinzChan
post Apr 20 2021, 06:23 PM

Getting Started
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127 posts

Joined: Oct 2011
QUOTE(Computer^freak @ Apr 20 2021, 01:45 PM)
If you mine it in Malaysia, you still need to pay tax.
Even if you transfer your crypto to your SG company and sell it in SG.
You can read this under transfer pricing in IRB's public ruling.

So far, what I can say. Even though people have the perception that Malaysia's civil service is incompetent.
However, their taxation department is actually very effective in countering loopholes and tax avoidance  icon_idea.gif
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their irb taxation dept full of elites from big 4
jack2
post Apr 20 2021, 07:26 PM

Mr
********
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15,192 posts

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QUOTE(whyamiblack @ Apr 20 2021, 11:27 AM)
No problem to include crypto in taxing for day-trading but how they count losses? If the fella gain 100k on his portfolio but dropped 200k, still need to pay 100k tax? Die lo
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They want profit only... Losses u makan sendirilah hahas
SUSBillCollector
post Apr 22 2021, 12:18 PM

Enthusiast
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QUOTE(yhtan @ Apr 20 2021, 01:48 PM)
U form a company in Singapore to enjoy the 17% corporate tax? If u use personal name then how u derive as yourself as Singapore tax resident?

Your word seem confusing me.
I think u get it wrong, if an American expat come to KL and work full time, he need to pay tax to LHDN, not US.
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Never stated I’m a Sg resident.

I use a SG company to reduce my tax liabilities

Also an American citizen pays tax on worldwide income similar to China nationals though double taxation treaties do exist in some cases.
SUSBillCollector
post Apr 22 2021, 12:22 PM

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QUOTE(friedricetheman @ Apr 20 2021, 12:46 PM)
That’s bullshit bro. Unless you are a citizen in Singapore, you pay taxes in your home country. Even if you trade in Singapore, you need to declare taxes Malaysia.

Just like an American expat working in KL who pays taxes to the American government and not to Malaysia.
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An American expat working in Malaysia is subject to both Malaysia and US tax only because American citizens are taxed on their worldwide income.

Other than China nationals no one else is subject to similar laws.

Stick to other people’s watches as it’s clear you’re clueless otherwise.


friedricetheman
post Apr 22 2021, 12:59 PM

Watch Idiot Savant
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From: Not sure


QUOTE(BillCollector @ Apr 22 2021, 12:22 PM)
An American expat working in Malaysia is subject to both Malaysia and US tax only because American citizens are taxed on their worldwide income.

Other than China nationals no one else is subject to similar laws.

Stick to other people’s watches as it’s clear you’re clueless otherwise.
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Lol. So what are you? Since you have just admitted that still need to pay taxes in Malaysia.

Bodoh simpan sikit. Don’t talk nonsense about not paying taxes in malaysia when you are a Malaysian
9m2w
post Apr 22 2021, 01:03 PM

Victoria Concordia Crescit
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QUOTE(friedricetheman @ Apr 22 2021, 12:59 PM)
Lol. So what are you? Since you have just admitted that still need to pay taxes in Malaysia.

Bodoh simpan sikit. Don’t talk nonsense about not paying taxes in malaysia when you are a Malaysian
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Save the aggravation

Refer here

https://forum.lowyat.net/index.php?showtopi...#entry100692378

Not gonna layan already for me haha
SUSTianJian
post Apr 22 2021, 01:04 PM

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QUOTE(eaglefly @ Apr 20 2021, 06:04 AM)
So many millionaire miners with curi elektrik some more of course tax will avoid lols

They think lhdn can't trace thru bank kot

Hahaha
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can they trace other country bank ?
blanket84
post Apr 22 2021, 01:05 PM

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QUOTE(BillCollector @ Apr 22 2021, 12:22 PM)
An American expat working in Malaysia is subject to both Malaysia and US tax only because American citizens are taxed on their worldwide income.

Other than China nationals no one else is subject to similar laws.

Stick to other people’s watches as it’s clear you’re clueless otherwise.
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Where did you put Asquith's body after you kill him?
9m2w
post Apr 22 2021, 01:06 PM

Victoria Concordia Crescit
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QUOTE(TianJian @ Apr 22 2021, 01:04 PM)
can they trace other country bank ?
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Yes Malaysia participated in the Automatic Exchange of Financial Account Information.

Other participating countries include Singapore and Hong Kong.

So yeah they will know how much you have. With modern analytics dont need much effort to sort thru all the data also
doppatroll
post Apr 22 2021, 01:07 PM

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QUOTE(eaglefly @ Apr 20 2021, 06:04 AM)
So many millionaire miners with curi elektrik some more of course tax will avoid lols

They think lhdn can't trace thru bank kot

Hahaha
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Smart ppl wont open bank locally.....they prefer to open bank overseas laugh.gif
SUSTianJian
post Apr 22 2021, 01:07 PM

Casual
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435 posts

Joined: Jun 2007


QUOTE(9m2w @ Apr 22 2021, 01:06 PM)
Yes Malaysia participated in the Automatic Exchange of Financial Account Information.

Other participating countries include Singapore and Hong Kong.

So yeah they will know how much you have. With modern analytics dont need much effort to sort thru all the data also
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hmmm , o well , waiting them come arrest me i guess
9m2w
post Apr 22 2021, 01:16 PM

Victoria Concordia Crescit
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QUOTE(TianJian @ Apr 22 2021, 01:07 PM)
hmmm , o well , waiting them come arrest me i guess
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This was a big deal during the Tax Amnesty announced a couple of years back. If no one bothered to call you, you probably safe
SUSTianJian
post Apr 22 2021, 01:19 PM

Casual
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QUOTE(9m2w @ Apr 22 2021, 01:16 PM)
This was a big deal during the Tax Amnesty announced a couple of years back. If no one bothered to call you, you probably safe
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so far only hong leong bank call me , but i didnt owe them anything LEL , truec aller show spam insurance

jack2
post Apr 27 2021, 12:12 PM

Mr
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This is true case. I know the poster

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