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How will foreign-sourced income tax impact your investments?

How will foreign-sourced income tax impact your investments?
How will foreign-sourced income tax impact your investments?

How will foreign-sourced income tax impact your investments?

DATE
SATURDAY, 18 DECEMBER 2021
Title How will foreign-sourced income tax impact your investments?
Webinar Details The recently announced Budget 2022 includes new measures where foreign-sourced income will be subject to taxation has stirred companies and individuals with investment abroad.

    

What is the definition of foreign-sourced income?
How much tax will be levied and how will the tax be administered?
When will the tax kick in?
How will your unit trust funds with income pay-out be impacted?
Are there any exemptions or exceptions for unit trust funds?
Will capital gains from foreign investment holdings be taxed?

   

Assess the impact with our panelist of Malaysia’s largest fund managers (with over RM160 billion assets under management) from Principal Asset Management and Affin Hwang Asset Management as well as tax partner, Ernst & Young.

Moderator Ng Shin Seong
Head, Investment Strategy & Advisory
Standard Chartered Bank Malaysia
Speaker(s) Bernard Yap
Partner, Private Client Services
Ernst & Young Tax Consultants Sdn Bhd 

     

Harry Leong
Head of Retail Business
Principal Asset Management Malaysia

   

Anton Tan
Senior Director, Wealth & Advisory
Affin Hwang Asset Management Berhad

Registration Link https://primetime.bluejeans.com/a2m/register/wqkujxpr
Post event
Key Takeaways
Thank you for joining our session on 18th Dec to discuss how foreign sourced income tax exemption may impact your investment from 2022 onwards.

   

While we managed to address many doubts amidst intermittent internet connection, many more questions await confirmation from authorities.

   

We are working on compiling a list of FAQs and will set another date in the coming months on Foreign Sourced Income tax exemption, here are some of the takeaways from last weekend:

   

1. Tax on foreign sourced income remitted into the country will be implemented from 1st Jan 2022 with Gross Foreign Sourced Income to be taxed at 3% during the transition period till 30th June 2022, after which it will be taxed at prevailing income tax rate.

2. Bilateral or unilateral tax credit is allowed if the same income has been taxed abroad, subjected to availability of documentation to substantiate the foreign tax credit.

3. Capital gains on shares and unit trusts are not taxable.

   

We hope you have enjoyed our weekend webinar series covering topics from China to connectivity and sustainability to solar power.

   

We look forward to welcoming you to our next webinar on 10th January on Global Market Outlook – The Year Ahead and Reflections on China on 10th January 2022 between 4pm to 6pm.  Register now

How will foreign-sourced income tax impact your investments?

Assess the impact of foreign-sourced income on your investment portfolio.