Then,.. bros,.. you know what will happen ??

Then they will do a blanket taxation on ALL incoming remittances first,... see how much came from which source, then 'calibrate' at their end and refund the ones which are non-taxable.

That's why,... my suggextion is,... if possible for individual investors,... don't move first for the first 6 months of next year. But for investors into foreign funds based in Msia,... no choice,...

yep the article is implicit mere complaint from asset management company that our gomen is announcing policy:
1) without any pre-amp discussion
2) without any clarity and analysis how it would negatively impact/burden the administrative works of all affected parties

as if they care thou

now i am treating my foreign investment like EPF, once out, trying my very best not to remit back for now, while on the side i am keeping IBKR statement in monthly basis just in case.

I currently invests in an Asia pacific equity fund on FSM, so based on what you say, I might be better off holding the individual stocks rather than the fund? The fund hold blue chip counters in Asia Pacific, but majority of them pays dividend.

This post has been edited by TOS: Dec 21 2021, 05:27 PM

i think nobody know how it works for now, even for case of normal retail investor remittance back into Malaysia they are yet to provide the clarity,
let alone fund management company which are at least 10x complicated, we will see how's the chaos goes until gomen announce a black and white guideline (which i being skeptical that it will still have tons of loophole and unclear parts), can't help with this ugly clusterfck .

Like tadashi said, as if they care. If they can squeeze, they squeeze. Look at the freight companies transfer of share, the courier services tax.

Sadly that's the fact.


That's what I am doing.

If you are PRS, just leave it. If you unit trust, don't know what will happen.

This post has been edited by Ramjade: Dec 21 2021, 03:43 PM

I think,... based on all we have discussed in the many threads here and on the articles posted here in this forum pertaining to this matter, the tax authority will go afer the bigger cashcows first and leave the retail investors last.

If you invest overseas via proxies,... like TOS, then you are at the mercy of how the fund mgmt declares and reports and income.

If you are investing overseas personally, then you are at the mercy of your own knowledge and interpretation of the oncoming events.

Bros,... further clarity or not,... there will be tax against income remitted back. There is no turning back from this now.

YOU guys just hope the buggers don't chg to residential taxation system.

You guys just hope the buggers don't ban foreign brokerages from offering offshore investment services to Msian tax residents, like what China is preparing to do to their citizens now.

Then we are still ok,... it's just abt remitting back only.

Pls pardon my impoliteness and vulgarity.

When come to general election.. You'll know who to vote for. Just hope majority esp those older generation malays can see this and vote correctly.

Country going to hell with their stupid policies.

IRB won't know who is big fish small fish... they have a few things to look out for that will trigger an audit... this give them excuse to dig further...

they wanna go after ppl evading taxes... just too bad we are the collateral damage

the 3 PM after ajib is worst... lol... my this same reply got nuked by mods last week... lol

anyways... Malaysia is known as big money laundering country... so it's really Rakyat the problem...

I beg to differ on ur first sentence. IRB would have a calculated knowledge on who are the entities who will be initiating remittances back to Msia on a regular basis,... as well as the size of the amts remitted in. They would have noticed quite a few things,... and decided they shld re-enact back the tax ruling that was practised prior to 1974,... I think,...

I think this regime : called Removal of The FSIE is targetted to produce a new source of income tax collection in this country. It has nothing to do with catching tax-evaders.

Catching tax-evaders is a day-in and say-out job for them.

My next bet on new tax income streams will be tax on EPF withdrawals above certain quantum. A bit like the US tax on 401k withdrawals. Imagine the millions involved with withdrawals.
Makes me think really hard whether i should start to initiate withdrawing my savings there.

you're agreeing with me actually lah... hahaha

I said they have a few things to look out for... and you said regular remittance and size, etc... I kena audit many many times liao, usually trigger by other things... the latest is I bought crypto in 2017... lol

ive been saying all along gov bankrupt / poor... so yes it is additional source of income, but this also give IRB extra reach

money put in 401k is before tax lah... so early withdrawal kena tax is only fair

money in EPF is post tax... they won't double tax

I would say PNB's ASNB will be taxed first before EPF, since EPF is for "retirement". ASNB on the other hand is just general investment vehicle, so is a more "legitimate" vehicle to tax. Even before PNB's ASNB would probably be local UT/mutual funds.

When government desperate for money, everything can be taxed.

Issit post tax? For eg the employer's portion of 12% is not reported as income?

you must remember... these are special schemes... it's not always about legitimatcy and fairness

don't know if you remember... there was a time where bank interests are taxable

Employer contribute portion is not taxed, and not counted into gross income, straight away goes to EPF saving.
Employee contribute portion has tax relief, so if not exceed the threshold relief, the portion also not tax before.

actually I'm slightly wrong

employer's 12% has not been taxed... is business expense. is not counted as your income

employee's 6k relief has not been taxed... above this has been taxed

des why cannot withdraw before 50/55... 401k can withdraw any time with penalty tax

This post has been edited by dwRK: Dec 22 2021, 10:32 AM

Okay, bro,... you win,...

Which means, bro,... emm,... they think you have capacity to pay more taxes,... which in turn means you are a strong-income earner. Frankly, bro,.. if they don't suspect anyone of being a strong-income earner, they won't go after that target-lar,... right ? Waste time meh ?

Which then begs the question,... how do they decide who has the capacity to pay more taxes ? From Facebook, INstagram,... I think,....