Do Malaysians need to file taxes when working abroad?Overseas income tax knowledge

Many Malaysians work abroad to earn money, such as: Singapore, China, Indonesia, etc.

Some Malaysians want to use the income earned from overseas investment to invest in real estate to buy houses and cars in Malaysia.

Therefore, they all want to understand the tax knowledge of Malaysians who make money abroad:

• Do Malaysians have to file taxes when working abroad?
• Do I need to file tax when working abroad to earn money (Malaysian overseas income)?

Do Malaysians need to file tax returns when working abroad?

1) If the money earned by Malaysians investing abroad is deposited in foreign banks and not transferred to Malaysia, do they need to file tax returns in Malaysia?

2) Will I be caught if I don’t file tax returns on these foreign investment income?

• Be sure to make sure that the previous investment capital has been taxed, as long as you can prove it.
• In fact, if you do business abroad, you must file tax returns in a foreign country.
• You need to register your company abroad and then file your taxes abroad so you don’t need to file in Malaysia.
• There is no need to file taxes on money earned from foreign investments.

3) If I plan to use the income from foreign investment to buy a house in Malaysia in the future, do I need to file tax returns in Malaysia?

• After filing your taxes abroad, remember to file your taxes in Malaysia as well.
• When filing tax returns in Malaysia, you only need to fill in RM0 for income on Form BE.
• If you do not file a tax return, the tax bureau will write to ask you about your source of income when you buy a house or a car in Malaysia, and then reply to the letter truthfully and let them know the facts.
• Foreign income is not subject to Malaysian tax, and it is tax-free if transferred to Malaysia.
• We recommend that you keep proof of your foreign income (the tax office may inquire).
• Unless you have a tax return in a foreign country, it will attract the attention of the government, why do you have a sum of money in a foreign country?
• Of course, if you file enough tax in Malaysia, that's another story.

cautionMalaysia 2019 Electronic Filing Deadline Exceeds the Time Limit, Late Filing Will Be Penalized.

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