Foreign source income taxable in Malaysia

Finance Bill additional information on foreign sourced income remitted into Malaysia will be subjected to tax from 1/1/22.

The proposed tax ruling is applicable to all tax residents (companies & individuals).
The scope covers all classes of income from business, salary & passive income (eg dividend, interest, royalty & etc).
The transitional period from 1/1/22 to 30/6/22 whereby foreign source income remitted to Malaysia is taxed at 3% on gross income.
From 1/7/22, any foreign source income remitted to Malaysia will be subjected to the current prevailing rate.

KTP takeaways
There are questions to be answered:

How about capital gain in foreign country remitted to Malaysia?
How about the foreign exchange on the remittance?

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