Over hundred k withdrawal is pretty small amount in US banks. Not worry at all.

Of course, I can't get hundred K in ATM at 1 shot. It is over a yrs withdrawal.

it's up to you to report... IRB don't do any tracing...

as long as you don't give them a reason to audit, don't kena random audit, if audit you lucky they don't ask for foreign bank statements, then can continue push your luck evading lor... just make sure nobody knows or nobody whistle blow you to IRB... hahaha

Actually I just come across this article.


"IRB explained that after the expiration of the special programme, it would review and scrutinise the income information of Malaysian residents kept abroad received through tax information exchange agreements with other countries.

“If based on the review, it is found that income kept abroad originating from Malaysia has not been declared, additional assessment can be raised along with penalties under the Income Tax Act 1967,” read the statement."


https://www.theedgemarkets.com/article/irb-...ysian-residents

said i don't want to play the luck game but to declare it on my own so as to be able to sleep tight, still, i don't get the HOW to declare LOL

we hold multiple counters overseas, US ones, SG ones, or even more, these counters declare special dividends/interim dividends et al.,
US ones are taxed with US withholdings tax, so mean no need to declare to Malaysia?
SG ones e.g. SG REITs are not taxed, means need declare in Malaysia?

The article sounds ridiculous on "it is found that income kept abroad originating from Malaysia has not been declared", are we all expected to be like professional tax consultants knowing up and down on how to declare?

it sounds even more ridiculous the HOW has not been finalized, they already can't wait to have this special programme so to get everyone to remit back ASAP, looks really awkwardly desperate to me.

This post has been edited by tadashi987: Nov 19 2021, 02:02 PM

They ARE desperate. That is why they are flinging the wide tax net and firing all cylinders without clarity. That is the Bolih way. Tembak dulu.

our tax form got a box to fill up any other income... just put it there lor... it will follow your tax rate... des why 3% is incentive for ppl but for this 3% need to wait for sop...

pay tax only when remit back... so you remit 10k... but 9k is capital/profit... 1k is dividend n interest... declare 1k as taxable, and keep the div statements as proof... obviously also keep the capital monies statements as proof

as to div from US & SG... we got no tax treaty with US, so by right buta buta double tax...so need to wait n see how...

Oh no.... I just got myself an SG bank account, invested in SG reits, and planning to invest more in SG reits.

And now they gonna tax me, sigh, haiyaaaaaa

Really hope they not gonna tax me when I am not remitting money back to Malaysia.

Wait. If we never bring money back, need to fill up the section under other income?

Cause I understand it will only be taxed if we bring back.

This post has been edited by Ramjade: Nov 19 2021, 05:11 PM

nope. don't fill if not bringing back foreign source income...

if bring back during the 3% grace period... IRB will likely issue another form to fill and to pay that tax

https://www.sinchew.com.my/20211119/2022%e8...b7%9d%e7%a6%bb/



So if you remit back dividends there is a chance that you will be taxed. But he thinks capital gains not likely.

He reminds everyone: Keep your documents!

This post has been edited by TOS: Nov 19 2021, 10:43 PM

Thanks Ziet.

https://www.youtube.com/watch?v=IqLI_DaHT80

Glad to bring up this issue for the public’s awareness!

https://www.sinchew.com.my/?p=3435256

Nothing new, just a Mandarin version of the LHDN press statement earlier.

https://www.thesundaily.my/home/malaysia-sh...trend-AL8591301

https://www.pwc.com/my/en/assets/media/pwc-...agdev-singh.pdf

2021/2022 Malaysia Tax Booklet by PwC

https://www.pwc.com/my/en/publications/mtb.html

This post has been edited by TOS: Nov 30 2021, 09:33 AM

https://drive.google.com/file/d/1c0rWG2PHbr...Ep4cnKNT9zuAa2g
TOS, Hansel, prophetjul, tadashi987, elea88
Govt goint to get access to bank account without notifying us before hand from my understanding.

This post has been edited by Ramjade: Dec 9 2021, 11:32 AM

such BS from gomen

IRB already doing it...

yes they already accessed mine in year 2017. took me one year to submit all documents.