Most likely will failed because cross border workers will be affected the most 

Right now I have funds tied to a foreign equities (US) brokerage. I happen to have a SG bank multicurrency account. Would it make sense to just leave it all outside the country? I was thinking of just directing my profits to Singapore after I sell my US stocks instead of bringing it back

I have a foreign debit Visa card and if I take cash from ATM here, do I need to declare? or buy something here.

I think shouldn't be an issue. I don't think they are able to enforce anything on foreign banks. I don't think we are able to trace the from the numerous foreign bank card ATM withdrawals here in Malaysia.

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.

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.

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.

New stuff from the Edge:

https://www.theedgemarkets.com/article/taxp...individuals-tax

https://www.theedgemarkets.com/article/dont...%80%94-deloitte

They need "court order". If you can be informed of the "court order", I wonder why they need to amend the legislation, since asking the bank for details and asking court to approve via garnishee will still result in informing the person (owner of bank account).

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.

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.

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.

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?  :confused:

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,....

You guys know each other in real life? 

Simple finance calculations. 1 million in 2026, assume compounding rate of 6% p.a., shall we. PV*(1.06)^5 = 1 million, PV = 747,258 (about 750k).

My assets are nowhere near 100k 
Mins sharing your discount rate, duration of investment, and future value (or present value)?

He is a rich guy and has good stomach for volatility. 100 shares for one option trade. AAPL, MSFT etc. easily in the 100-300 USD per share range, which amounts to 20k USD per trade, factor in diversification of 4-5 counters, 100k USD or 400k MYR.

I have no regrets, seeing NVDA go up 10% a day and 10% down the other day, compared with S-REITs which barely move above 0.5% in a normal day, the extra return from options is called "risk premium" for a reason.

Anyway risk profile differs from people to people.