“The fact that you paid it in Singapore (example) makes no difference to the taxability. People assume that the moment it is foreign, it’s (tax) exempt. Income earned overseas is exempt, but income earned in Malaysia is taxable even though it’s paid overseas,“ Axcelasia Inc group chairman Dr Veerinderjeet Singh told reporters at the Malaysian Tax Conference 2019 here this morning.
Earlier, Inland Revenue Board (IRB) CEO Datuk Seri Sabin Samitah said foreign donations are subjected to tax on a “case by case” basis.
Sabin declined to comment on the additional tax bill of around RM1.5 billion that IRB has slapped on former prime minister Datuk Seri Najib Razak.
“We’re bound by the secrecy provision and we’re not allowed to discuss individual tax matters with the public,“ said Sabin.
Source: The Sun Daily