Foreign source income taxable in Malaysia

01Foreign source income taxable in Malaysia

Finance Bill additional information on foreign sourced income remitted into Malaysia will be subjected to tax from 1/1/22.

• The proposed tax ruling is applicable to all tax residents (companies & individuals).
• The scope covers all classes of income from business, salary & passive income (eg dividend, interest, royalty & etc).
• The transitional period from 1/1/22 to 30/6/22 whereby foreign source income remitted to Malaysia is taxed at 3% on gross income.
• From 1/7/22, any foreign source income remitted to Malaysia will be subjected to the current prevailing rate.

KTP takeaways
There are questions to be answered:

• How about capital gain in foreign country remitted to Malaysia?
• How about the foreign exchange on the remittance?

Visit Us

• Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
• Wisma THK, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

• Website www.ktp.com.my
• Instagram https://bit.ly/3jZuZuI
• Linkedin https://bit.ly/3sapf4l
• Telegram http://bit.ly/3ptmlpn

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

• Website www.thks.com.my
• Facebook https://bit.ly/3nQ98rs

KTP Lifestyle

An internal community for our colleagues on work and leisure.

• Tiktok http://bit.ly/3u9LR6Q
• Youtube http://bit.ly/3ppmjyE
• Facebook http://bit.ly/3ateoMz
• Instagram https://bit.ly/3jZpKLo

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

• Instagram https://bit.ly/3u2PxHg
• Facebook http://bit.ly/3rPxz9o

#Ktp #Thks