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Search: Posts Made By: MM2Hresident
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Forum: Retirement and MM2H
Aug 9th 2022, 9:43 am
Replies: 45
Views: 6,968
Posted By MM2Hresident

Re: Another nail in the MM2H coffin

The actual rate to be paid to Malaysia for untaxed foreign-source income remitted to Malaysia is the personal income tax rates in Malaysia since such foreign-source income is no longer exempted and...
Forum: Retirement and MM2H
Aug 8th 2022, 12:46 pm
Replies: 45
Views: 6,968
Posted By MM2Hresident

Re: Another nail in the MM2H coffin

No, and many MM2H holders do not for various reasons.

With this sudden Order, it is no longer possible to live a tax-free life in Malaysia which was one of the biggest selling points of the MM2H...
Forum: Retirement and MM2H
Aug 8th 2022, 12:29 pm
Replies: 45
Views: 6,968
Posted By MM2Hresident

Re: Another nail in the MM2H coffin

Read the paragraph directly below the one in the Order that you highlighted in bold. If it's still not clear, then read the reports from the big Accounting Firms listed in the "August 2022" thread as...
Forum: Retirement and MM2H
Aug 8th 2022, 11:31 am
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

What ambiguity? Received and remitted are two sides of the same coin. Anything remitted to Malaysia is then received in Malaysia. So they are not limiting it to foreign-source income directly "paid...
Forum: Retirement and MM2H
Aug 8th 2022, 11:28 am
Replies: 45
Views: 6,968
Posted By MM2Hresident

Re: Another nail in the MM2H coffin

You clearly did not read the August 2022 thread about the new order gazetted on July 19, 2022 (https://www.maicsa.org.my/media/7275/technical_announcements_220721_1_3.pdf). You information is...
Forum: Retirement and MM2H
Aug 8th 2022, 10:56 am
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

Those are the words of the Tax Consulting firm. The actual words in the actual order are quite unambiguous as I outlined above...
Forum: Retirement and MM2H
Aug 7th 2022, 8:03 pm
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

See also this article (https://www.thesundaily.my/home/taxation-of-foreign-source-income-the-saga-continues-HH9494786) contributed by a Tax Consulting firm in Malaysia that specifically mentions:...
Forum: Retirement and MM2H
Aug 7th 2022, 7:56 pm
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

The language in the order is clear. How can income that has not been subjected to income tax be deemed to have been subjected to income tax (or similar)? It can't because it wasn't. Hence, such...
Forum: Retirement and MM2H
Aug 7th 2022, 7:37 pm
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

Such foreign-source income is NOT exempt from tax in Malaysia because it fails exemption criteria 2 in the order (https://www.maicsa.org.my/media/7275/technical_announcements_220721_1_3.pdf):...
Forum: Retirement and MM2H
Aug 7th 2022, 8:47 am
Replies: 26
Views: 3,137
Posted By MM2Hresident

Re: Is a TransferWise exchange a 'Remittance'?

No, you cannot.

It has happened. The order has been gazetted and all foreign-source income remitted to Malaysia that has not been taxed by the source country will now be taxed by Malaysia...
Forum: Retirement and MM2H
Aug 7th 2022, 8:46 am
Replies: 45
Views: 6,968
Posted By MM2Hresident

Re: Another nail in the MM2H coffin

It has happened. The order has been gazetted and all foreign-source income remitted to Malaysia that has not been taxed by the source country will now be taxed by Malaysia effective immediately.
...
Forum: Retirement and MM2H
Aug 7th 2022, 8:44 am
Replies: 10
Views: 2,174
Posted By MM2Hresident

Re: Taxation of Remittances to Malaysia

No hope. The order has been gazetted and all foreign-source income remitted to Malaysia that has not been taxed by the source country will now be taxed by Malaysia effective immediately.

See the...
Forum: Retirement and MM2H
Aug 7th 2022, 8:41 am
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

This understanding is not correct.

The PwC report you mentioned doesn't mention anything about "zero percent".

What this PwC report does mention is that the Exemption Period is from 1 January...
Forum: Retirement and MM2H
Aug 7th 2022, 5:08 am
Replies: 48
Views: 7,099
Posted By MM2Hresident

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

I can't post links or paste the articles, so Google Ernst & Young Malaysia Foreign-sourced income (FSI) exemption orders gazetted July 2022.

The most worrisome point is that the tax exemption on...
Showing results 1 to 14 of 14


 
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