https://www.sinchew.com.my/20211030/%e7%99%...b5%b7%e5%a4%96/

So, tax experts say no need to worry about double taxation as those who are already taxed overseas can enjoy tax relief, and as long as the money does not flow into Malaysia then you don't need to declare tax. Just keep it in your offshore bank accounts.

That means I can look for money changer in SG to convert money into cash and bring to MY to spend when retire, as long as don't deposit large amount in bank, then LHDN won't know and no need to pay tax.

Mastercard fees very expensive, they earn like 8% when I pay for my HK SIM top-up using Malaysia debit card. I didn't know SG works differently?

When I retire in M'sia I am a tax resident since I will stay here more than 6 months (182 days).

It's already in Singapore. Only stupid Malaydia does not have wise card.

So you guys are saying no need to move money back, but directly use the "SGD debit card" from Wise or Revolut in any POS terminal in Malaysia? So when money is deducted in buying goods, it is deducted in MYR but internally is converted to MYR from SGD via Wise/revolut from SGD money deposited in Wise/revolut earlier? (which means wise/revolut functions like a bank account?)

I have a question for you. You invest now in various overseas market to prepare for retirement right? Or at least some life goals in the future, I hope?

So that means at some point later in life, say for example when you retire, you need to spend those money that you invested, obviously they have to be brought back to Malaysia for you to spend on retirement, no?

Or you plan to retire elsewhere?

Or say that money is for your wedding, (you are still single?  ) then when you wed in M'sia, obviously you have to repatriate that money back to spend in the end.

So by hook or by crock, a portion of your money will have to come back to Malaysia anyhow in the future, you can't escape unless you go through the "illegal" route. Of course  in the cases above, I assume the tax laws remain the same, which might not be.

MasterCard has hidden FPX conversion rate and it won’t be spot rate but overnight rate which sometimes can goes to up 0.5% higher together with bank charges be prepared to at least 1.5% markup for every transaction 

Cannot escape still got 0.5% on top of it 

It's just dream. Unlikely will happen. Might try Portugal though. Cause if US people can retire to Portugal, why not.

Anyway I am ready to pay tax even though I am bitter about it.

Both also 0.5% hidden FPX fee so can’t escape no matter how 

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.

Well said. well said.

Thanks for sharing , which card are you using btw ?

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.

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.

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.

Because there’s no column for non taxable income.

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.

I asked LHDN before on the phone and via email. They told me to declare. I already emphasised that I have funds coming from overseas but they are capital gains. I get some boiler plate answer. I called and same thing. Sumber kewangan yang tidak dikenakan cukai perlu dilaporkan. Ask where to put, they say put at lain-lain pendapatan. But put there will increase tax payable. Then I gave up.  Anyone can give a clearer answer will be appreciated.

That is why this is stupid.

You must be "big customer". I don't get that offer either.