Aug 21 2018, 02:34 PM
QUOTE(plumberly @ Aug 21 2018, 12:34 PM)
Thanks.
Accounting was one of my worst subjects in school. So pardon me for my questions.
Say country A has FTC with Misa (I asked the org handling my shares on who got the dividend tax deducted from my shares, the lady replied saying that amount was sent to Msian tax dept), am I right in assuming the following?
AA
I can claim for my deducted share WHT with LHDN?
BB
If I claimed for the WHT here, it should still be non taxable as it is foreign income?
Hope 2 yeses for the above! Ha.
P/S Any time limit on claiming for the WHT? Some of the shares are more than 15 years ago.
I will just have to tell you my general knowledge of what is double tax agreement is all about.Accounting was one of my worst subjects in school. So pardon me for my questions.
Say country A has FTC with Misa (I asked the org handling my shares on who got the dividend tax deducted from my shares, the lady replied saying that amount was sent to Msian tax dept), am I right in assuming the following?
AA
I can claim for my deducted share WHT with LHDN?
BB
If I claimed for the WHT here, it should still be non taxable as it is foreign income?
Hope 2 yeses for the above! Ha.
P/S Any time limit on claiming for the WHT? Some of the shares are more than 15 years ago.
For example, if a shipping company is based in malaysia. but some of their profit are taxed in singapore, this same income is also taxed in malaysia.
100k, sg tax 15%. 15k
100k, my tax 18%. 18k
total taxed 33k on the same 100k of income.
when double tax agreement kicks in,
100k, sg tax 15% = 15k
100k, my tax 18% = 18k MINUS 15k (due to agreement)
=3k at MY side.
total taxed of of 100k income = 18k only due to the DTA.
for your case, since you are paying tax ONLY in overseas... even if there is DTA, you cannot get back the money. (FYI, you need to confirm this... all DTA are drafted differently.)
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