Dear all taikos out here, are there any tax on profit from share investment in the US at realization and transfer of fund out of US?

Thanks!

Yes, is taxable income...

zeusu,

Need more details:

1) Tax from which country?? USA or Malaysia?/

2) Where are your stock brokerage A/C?? USA, Malaysia, Singapore??

3) Are you a resident or non-resident of USA??

4) Are you transferring the to a Malaysian or non-Malaysian resident??

Depending on your answer from (1) to (4), the answer will be different.

Dreamer

Hi dreamer,

1) Tax from US
2) Stock brokerage A/C in US
3) non-resident of USA
4) non-Malaysian resident, but Malaysian resident in Middle East.

This post has been edited by zeusu: Jun 4 2008, 12:50 PM

zeusu,
http://invest-faq.com/cbc/tax-non-us-nat.html

I think this URL answered ALL your questions about USA tax.

But, you DO NOT UNDERSTAND about whether you are TAXABLE by Malaysia income tax.

<<4) non-Malaysian resident, but Malaysian resident in Middle East.>>

Malaysian tax system is based on WHEN you bring the money into Malaysia. It is NOT when you earn. Plus, it is based on WHO you remit the MONEY to. If you REMIT the money to a Malaysian TAX Resident, it is non-taxable. Or else, it is taxable.

Dreamer

thanks dreamer, so if remit my money to a malaysian tax resident, and he transfers back to me, i won't be taxed in malaysia then?

zeusu,

<<he transfers back to me,>>

1) I do not know in Malaysia whether a gift is taxable.

2) Just remit the money to yourself when ever that you are in Malaysia more than 180 days for a calendar year. For that year, you are a Malaysian Tax Resident.

3) If you are married and your wife is in Malaysia, remit to your wife.

Dreamer

P.S.: Tax law change regularly. So, to be safe, talk to an accountant. I could be wrong.

"Trust but verify".

This post has been edited by dreamer101: Jun 4 2008, 04:30 PM

First of all, I am not an accoutant nor tax auditor so my word could be wrong, but IRB never ever stated that 'gift' is non-taxable. So even you collect a Rm10 note by the roadside, it is considered as your INCOME which is taxable.

I think gift below 50k malaysian ringgit not taxable cos last time i used to wire from UK to here each time less than 50k in malaysian ringgit and the bank say no need declare anything

Anyway anyone here knows how to calculate tax for singapore dividend? my is very strange 55%

foreign remittance are not taxed.
foreign income if taxed at source country qualifies for double taxation relief in Malaysia.