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Search: Posts Made By: stepen
Showing results 1 to 25 of 198
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Forum: Retirement and MM2H
Sep 21st 2025, 2:33 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

Not automatically, but required when buying property.
Forum: Retirement and MM2H
Sep 21st 2025, 12:27 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

Yes, and in real life even the foreign source income exemption is misunderstood and seems not applying to MM2H. I don't know anyone on MM2H who files a tax return.
Forum: Retirement and MM2H
Sep 21st 2025, 12:12 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

1. You don't have to register just by becoming a resident
2. No need. However you're supposed to declare foreign source income that's covered by the exemption and then claim the exemption
3. Yes
Forum: Retirement and MM2H
Aug 8th 2025, 2:50 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

Previously this point was used mostly by MM2H agents and promoters, there wasn't any official statement about it. It used to be easy as foreign income was not taxed in Malaysia. However with the...
Forum: Retirement and MM2H
Aug 1st 2025, 10:20 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

First, I'd say that this is all theoretical conversation. I don't think there would be much issue in Malaysia at least not yet, as most people seems not aware of the details in these rules, and even...
Forum: Retirement and MM2H
Jul 27th 2025, 7:07 am
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

Foreign source income is no longer exempt. There is an an exemption, as discussed above.
Forum: Retirement and MM2H
Jul 27th 2025, 2:04 am
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

It's because the exemption requires the income to have been taxed in the source country. If it's not taxed in the source country then the exemption doesn't apply.
Forum: Retirement and MM2H
Feb 11th 2025, 2:41 am
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

That link is also an agent, and for sarawak mm2h. Might still be correct, but I'd check closer.
Forum: Retirement and MM2H
Feb 10th 2025, 1:03 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

First, I think you're supposed to declare the overseas income/pension anyway and then claim the exception as the income has been taxed overseas.

As I mentioned, the text also says that income that...
Forum: Retirement and MM2H
Jan 30th 2025, 2:13 am
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

That's not entirely correct. Foreign source income is taxed when remitted to Malaysia. However there is an exemption, that was recently extended until 2036, that says you don't have to pay tax in...
Forum: Retirement and MM2H
Mar 12th 2023, 1:11 pm
Replies: 26
Views: 4,793
Posted By stepen

Re: Is a TransferWise exchange a 'Remittance'?

So again to conclude, I think that all funds receive to Wise borderless accounts are received in/remitted to Malaysia.
Forum: Retirement and MM2H
Mar 11th 2023, 8:38 pm
Replies: 26
Views: 4,793
Posted By stepen

Re: Is a TransferWise exchange a 'Remittance'?

Most of them, THB, , NOK are some examples
Forum: Retirement and MM2H
Mar 11th 2023, 1:48 am
Replies: 26
Views: 4,793
Posted By stepen

Re: Is a TransferWise exchange a 'Remittance'?

I believe the local bank account details are only to receive funds, it's not an actual bank account in that country.
Forum: Retirement and MM2H
Mar 9th 2023, 8:04 pm
Replies: 26
Views: 4,793
Posted By stepen

Re: Is a TransferWise exchange a 'Remittance'?

But all is held by wise Malaysia. Do HSBC Malaysia hold usd? No, that's held by their correspondent bank in the USA (foreign banks can't hold usd directly).
Forum: Retirement and MM2H
Mar 9th 2023, 1:50 pm
Replies: 26
Views: 4,793
Posted By stepen

Re: Is a TransferWise exchange a 'Remittance'?

Is money received in your (Transfer)Wise account received in Malaysia? Wise has a Malaysia e-money license, and the money in your Wise account for Malaysia residents are held by Wise Malaysia. What...
Forum: Retirement and MM2H
Mar 6th 2023, 3:55 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

​
Are you going to file a tax return to claim this? I'd just ignore it until someone approach me. They don't even know if we're tax resident or not.
Forum: Retirement and MM2H
Mar 6th 2023, 12:22 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

So it means that if income that's taxable in another country (for example salary income) but is not taxed, eg because you live in Malaysia and use a tax treaty to avoid paying income tax in that...
Forum: Malaysia
Mar 5th 2023, 8:07 pm
Replies: 7
Views: 7,132
Posted By stepen

Re: E-Gate entry to Malaysia for expats

So only these countries? Canada, France, Germany, Italy, Japan, the United Kingdom and the United States + Singapore, Brunei, New Zealand?
Forum: Retirement and MM2H
Oct 13th 2022, 1:04 pm
Replies: 19
Views: 3,906
Posted By stepen

Re: New Thai Visa Scheme - seeks 1 million applicants!

in the summary page by pwc they say that foreign income is only taxed if remitted to thailand the same year.

https://taxsummaries.pwc.com/thailand/individual/taxes-on-personal-income
Forum: Retirement and MM2H
Sep 14th 2022, 6:22 pm
Replies: 5
Views: 1,619
Posted By stepen

Re: New 1 year Digital nomad visa

Also good, but higher requirements to get:
"Remote workers have to be employees of qualified overseas companies with an income of US$80,000 per year or an annual income of US$40,000 and a master’s...
Forum: Retirement and MM2H
Sep 13th 2022, 2:36 pm
Replies: 5
Views: 1,619
Posted By stepen

New 1 year Digital nomad visa

Requires minimum $24,000 annual income.

https://mdec.my/ms/derantau/foreign/
Forum: Retirement and MM2H
Sep 6th 2022, 4:56 pm
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

It still refers to taxable income, not necessarily all remittances.
Forum: Retirement and MM2H
Sep 5th 2022, 8:42 pm
Replies: 8
Views: 1,682
Posted By stepen

Re: Announcement of Premium Visa Program

Yes, it's really strange. Also, who would want to apply for this new visa instead of the new MM2H? Is it the 200K application fee that is more tempting?

Only one difference seems to be that you...
Forum: Retirement and MM2H
Aug 30th 2022, 3:17 am
Replies: 85
Views: 23,442
Posted By stepen

Re: August 2022: Malaysia now taxes foreign-sourced income not taxed at source

There hasn't been released much detailed guidelines. The tax should be similar to if the money was earned in Malaysia. That means for example that dividends are not taxed as they are not taxed in...
Showing results 1 to 25 of 198
 
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