As for being expat, I hope the Msia govt won't implement the new MM2H policy. It's kinda sucks.
That requirement better retire in 1st world country - why need to retire in Malaysia?

If you're a retiree and only have passive income, usually it isn't taxed (or not much) at the source but if they
keep having those requirements, it's like going back to work.

And on top of that.. that's could be an income they (the govt) want to tax as per the new budget proposals
'coz the retirees have to bring it in as requirement for staying on that visa.

i went and read up the mm2h... it is indeed nuts...

looks like it is changing from "for retirees" to "for holiday homes"... some of the requirements just too much

some of the stuff he post is ok ah... not all bs... just that almost every post makes it like he expert... and other people dumb dumb... hahaha

anyways... this time I call his bs... I show my hand... hahaha


and my bank charge me spot rate...1/0.2394601 = 4.17606 live fx rate... but I choose Saturday since no trading to lock down this variable

This post has been edited by dwRK: Nov 3 2021, 10:46 AM

Thanks for sharing , which card are you using btw ?

visa debit

as for the mark up... it depends on your bank and types of account... they will have a pdf that discloses all the fees

which SG bank are you with ? & was it applied online / without been in SG ?

I currently only have a CIMB SG account (open remotely via CIMB MY).

Thanks.

it's a US bank opened when I was there

saw this for cimb sg atm card...

Local & Overseas Cash Withdrawal

Enjoy zero service charge for overseas withdrawals with your CIMB ATM card at over 6,000 CIMB ATMs regionally and any PLUS ATM globally. Additional service fee, which may vary from bank to bank, may be imposed by the ATM bank that you use for the withdrawal.

Did you open a savings account, in Singapore branch of a US bank?

Sigh, that will be out of reach for many of us here.

Another method is to apply for BigPay Prepaid Card from BigPay Singapore. However, many of us cannot use this method, since we do not have residency status in Singapore.

no. des why I don't talk about it because useless info for most ppl here

I've looked high n low...and no way to open a foreign bank account anywhere because we don't meet conditions... there are crypto/fiat wallets and cards but fees are no good

the only virtual bank ppl have had some success opening is N26 Bank...

Agreed, I have look at plenty of virtual banks, basically no way to open account. Only way is fly to that country and open account. That also not confirm can get.

This post has been edited by Ramjade: Nov 5 2021, 02:38 PM

https://www.sinchew.com.my/20211108/%e8%94%...a8%8e%ef%bc%9f/

In short, wait for finance bill.

The terms in Mandarin is not so accurate, but what they said is right : Msia practises the Territorial-based Taxation System and should not be taxing at source. At most, things shld be with reference to 'Remittance Base (RB)'. This RB method is not new, there are already models out there. Msia just needs to replicate that for this ctry.

If Msia starts to 'select' who gets what,... then becomes IRS ? Which ctry wants to implement Msia-styled W8-BEN ?

Call it W8-MAT ???

https://www.thesundaily.my/business/how-is-...taxed-AB8535064

So fast some tax consultants already can provide info... I think they are based on the older day laws.

The stupid thing with the LHDN income declaration form is that even if you have non-taxable source of funds (capital gains or profit distribution), putting it into any column of income will incur taxes.

The problem and biggest hurdle need to reform the taxation laws as it is really outdated with those info by tax consultants

How come? Since it is non-taxable then cannot be taxed...

Because there’s no column for non taxable income.

only need to declare taxable lah... non taxable why need to put?

dun waste time n energy reading all these vis-a-vis the new law... they still writing it... everyone is just speculating... hahaha

my simplistic view is... got foreign sourced kangtao... good lah... tax exempted until ye2021... enjoy while it last...