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Started:January 28th, 2013 (08:50 AM) by bkk888 Views / Replies:2,176 / 21
Last Reply:May 16th, 2016 (03:13 AM) Attachments:0

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Old May 14th, 2016, 04:24 AM   #21 (permalink)
Elite Member
Johor Malaysia
Futures Experience: Beginner
Platform: TC Pro, T4 and Sierra
Broker/Data: Phillip Futures
Favorite Futures: CPO, CL, GC
Posts: 156 since Oct 2013
Thanks: 821 given, 141 received

I am not a live trader yet.

However, I do not see any problem transferring the money home.

The problem you need to concern more is the tax part.

I have searched the net for more info, on the tax part. Not finding a real answer yet. Probably need to go look for a good knowledgeable accountant who knows his/her stuff in regards to these kind of trading profit.

Local brokers will tell you that profit from trading futures locally are not taxable. I also read that

" Income Remitted from Outside Malaysia

With effect from the year of assessment 2004, income derived from outside Malaysia and received in Malaysia by a resident individual is exempted from tax."

The question is how do they define the terms derived from outside Malaysia?
Some say, you are trading from Malaysia. It's kind of a gray area I guess.

If the sum is not huge, and you still have a full-time job/business in Malaysia, and pay your regular taxes, I don't think it will be a problem. It's when you decided you're good enough to trade full time, and no longer hold a job/business that pay the taxes, you need to start to worry about the income tax dept.

I would also like to hear advice from live traders who remit money into the country, esp on the tax part.

Thank you.

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Old May 16th, 2016, 03:13 AM   #22 (permalink)
Trading Apprentice
Futures Experience: Intermediate
Platform: ninja trader
Favorite Futures: futures
Posts: 12 since Sep 2014
Thanks: 2 given, 2 received

Many thanks for your reply.
It's a grey area in regard to the subject.

Hopefully there is some live trader is able to share their experience for Malaysia trader here.

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