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Do I need to file taxes in Malaysia if I work in Singapore?

Yes, you do! You need to report all your income to the Inland Revenue Board, including income received from overseas.

 

What is considered as Foreign Source Income (FSI)?

Business income, employment income, dividends, interest or discounts, rental, copyright income, retirement pension, annuity, periodic payments, and so on.

 

Will I be subject to double taxation?

The government has announced an exemption for the following two types of foreign source income (FSI) until 2026:

1) all foreign source income (except for partnership income) received by individuals that has been reported overseas; and

2) dividends received by companies, LLPs or partners.

 

If there is no exemption, what is the tax rate for foreign source income?

It will be calculated based on your personal income tax rate.

 

Do I still need to report if I am eligible for the exemption?

Yes.

For employees (Form BE), you need to fill in Part K. All income is exempt and no tax is required.

For those with business income (Form B), you need to fill in Part L. All income is exempt and no tax is required.