Recent content by Moonlighter

Labuan dividends are exempted and foreign sourced income that is not transmitted to Malaysia will stay tax free until 2036. https://www.ey.com/content/dam/ey-unified-site/ey-com/en-my/insights/tax/documents/ey-take5-budget2025-18oct-2024.pdf

You can't deposit or withdraw crypto and the total fees are roughly 1.5%. Another local option is crypto.com, they enabled local USD deposits over Standard Chartered recently.

Yes, in the ACRA business profile there is a field with "ID".

Please keep in mind that the FAQ is from 2015, so some parts are already outdated. While you can live in west Malaysia, in 2015 you had to provide a Labuan tenancy contract, which was a document organised by the trust companies. All in all just another fee and few years later they accepted a...

Name, address and passport number will be public for individual shareholders.

You can find the guidelines here and according to the FAQ the paid-up capital is still required. e-invoice relaxation period is from July to December 2025 if your revenue is < 25M MYR. You can read about it here. Invoices for foreign clients can be issued over the platform as well, the same for...

Yes it's public, but you need to pay a fee to access it.

The 120k MYR is a requirement if you want to get an employment pass and the LFSA will request tax returns & salary slips upon renewal. With the EP you can live anywhere in west Malaysia, but you also need 250k MYR paid up capital to apply for it. For the ESR you will need an office and two full...

You have an exemption until YA2025 for director fees and it's questionable whether these benefits will be extended again. Last time they announced the extension just in December 2021 for another 4 years. If you want to keep your employment pass, you have to draw a 10k MYR salary, which is not...

I suggest you get a second opinion, your tax advisor seems to mix up a lot of things and does not understand different types of income. The 1M AED threshold only applies on a personal level if there's income from business activities conducted under your name, which excludes passive income like...

So if you're trying to do something illegal and have a plaintext backup email leading to your personal identity, fingers should not point to Proton. They kept the email content encrypted as advertised but I guess many people mix up privacy with absolute anonymity. Using a unique email as...

UAE makes sense if you are a high income earner, trying to scoop of few percentages on your tax bill won't work.

Compliance feedback taking long time, I'm not politically exposed and have no complicated corporate structure. Not recommended! "Swiss" is also misleading, it's a Lithuanian bank.

Audits are required if you have > 50M AED turnover or fall under the qualified free zone activities. Aside from that you'll need to register for corporate tax this year (guidance) even if you will not pay any tax or qualify under the small business relief.

If you're not crossing 50M AED revenue you don't need an audit. Just use Zoho accounting suite and you'll be fine.