What are your thoughts on Malaysia? How's the future going to look like?
Not so long ago, Malaysia used to tax its residents and non-residents only on their Malaysia-sourced income. However, during the tabling of budget 2022, the government announced it would begin taxing the foreign-sourced income of Malaysian tax residents. Thus, all foreign-sourced income remitted to Malaysia, regardless of its nature, including employment income, interest, dividends, rent and pension income, became taxable. The foreign income tax exemption was one of the most significant attraction points for foreigners moving to Malaysia, so naturally, the announcement came as a major blow to many. However, the government recently announced a tax exemption on foreign-sourced income that provides temporary relief. According to the latest amendment, foreign income received in Malaysia will not be taxed, provided it has been taxed in its country of origin. This tax exemption will be valid from January 1, 2022, until December 31, 2026.
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Unit prices start from 108k USD.
Hadn't they messed up the tax system, I guess the situation would have been more hopeful.
Not so long ago, Malaysia used to tax its residents and non-residents only on their Malaysia-sourced income. However, during the tabling of budget 2022, the government announced it would begin taxing the foreign-sourced income of Malaysian tax residents. Thus, all foreign-sourced income remitted to Malaysia, regardless of its nature, including employment income, interest, dividends, rent and pension income, became taxable. The foreign income tax exemption was one of the most significant attraction points for foreigners moving to Malaysia, so naturally, the announcement came as a major blow to many. However, the government recently announced a tax exemption on foreign-sourced income that provides temporary relief. According to the latest amendment, foreign income received in Malaysia will not be taxed, provided it has been taxed in its country of origin. This tax exemption will be valid from January 1, 2022, until December 31, 2026.
I spent a night in one of the empty apartments in Malaysia's $100 billion ghost town, and I can see why very few people want to live there
Malaysia's Forest City was a ghost town. At night, the windows of hundreds of rows of apartments stayed dark.
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Forest City: Inside Malaysia's Chinese-built 'ghost city'
Built during the Chinese property boom, Forest City is a stark reminder of the crisis in the sector.
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What Happened to Forest City, an Abandoned $100 Billion Development in Malaysia?
A tropical paradise off the coast of Singapore is anything but idyllic
Unit prices start from 108k USD.
Hadn't they messed up the tax system, I guess the situation would have been more hopeful.
