TAX QUESTIONS? YOU ASK LAH!

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Q: I received dividends from a company in Singapore that is principally engaged in holding investments and earns only dividend income from those investments. Is this dividend income received by me subject to tax in Malaysia when being remitted to Malaysia?   

A: Yes, the dividend income is a foreign sourced income and is subject to tax in Malaysia when being remitted to Malaysia because it has not been subjected to tax and does not have any underlying tax in Singapore.   

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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