CCS

What Exactly is Considered a Taxable Remittance 4 – Should I Remit or Not

What Exactly is Considered a Taxable Remittance 4 – Should I Remit or Not – PDF P/S: According to a press release issued by the Ministry of Finance on 30 December, the government has agreed to exempt overseas income from taxation until 31 December 2026, subject to certain conditions. 1. The Ministry of Finance issued […]

What Exactly is Considered a Taxable Remittance 1 – Introduction

What Exactly is Considered a Taxable Remittance 1 – Introduction – PDF 1. If you are currently working abroad or have income abroad yourself, I’m sure you are getting chagrined as 2021 slowly draws to a close. 2. This is because the proposed amendments to Para 28 of the Sixth Schedule of the Income Tax […]

What Exactly is Considered a Taxable Remittance 2 – Definition & Examples

What Exactly is Considered a Taxable Remittance 2 – Definition & Examples of Remittances – PDF 1. In general, if you have foreign source income or profits from foreign gains and you bring them directly or indirectly to Malaysia so that you can benefit from the income or gains in Malaysia, you are considered to […]

25: Income Derived by Individuals Exercising Employment Aboard Ships

Income Derived by Individuals Exercising Employment Aboard Ships – PDF 1. Although it is a high-risk job, many people still work hard every year to get on board and undergo various examinations and training to become crew members. 2. How should sailors and seafarers be treated for income tax purposes when they sail for long […]

26: Income Derived by Individuals Exercising Employment Aboard Ships Part 2

Income Derived by Individuals Exercising Employment Aboard Ships – Deeming Provisions of Employment Income – PDF 1. The Malaysian Government achieves tax jurisdiction through a series of territorial tax regimes, which means that: 👉 only income accruing in or derived from Malaysia has been taxed, 👉 Income derived from foreign sources is tax-exempt [(Schedule 6 […]

20: An Individual’s Tax Residence under S 7(1)(c) ITA 1967

An individual’s tax residence under S 7(1)(c) ITA 1967 – PDF 1. The residence test under s 7 of the Income Tax Act 1967 (ITA) is purely a quantitative one, based on the number of days an individual is present in Malaysia during a year of assessment. 2. Under s 7(1)(c) of the ITA 1967: […]