Question 4 Mr. Park, a Korean (South) citizen and a resident in Malaysia has the

Question

Question 4

Mr. Park, a Korean (South) citizen and a resident in Malaysia has the following sources of income:

RM200,000 earned from designing a logo for a Malaysian company;

Rental income of RM15,000 from a property in South Korea remitted to Malaysia

An interest income of RM5,000 from a Korean company credited to his bank account in Korea.

Required

State with reasons whether these sources of income are subject to Malaysian tax for the YA2016.Question 4

Mr. Park, a Korean (South) citizen and a resident in Malaysia has the following sources of income:

RM200,000 earned from designing a logo for a Malaysian company;

Rental income of RM15,000 from a property in South Korea remitted to Malaysia

An interest income of RM5,000 from a Korean company credited to his bank account in Korea.

Required

State with reasons whether these sources of income are subject to Malaysian tax for the YA2016.

Explanation / Answer

RM 200000 IS TAXABLE IN MALAYSIAN TAX AS IT IS DERIVED FROM THE SOURCE WITHIN MALAYSIA.

BUT RM15000 AND RM5000 WILL NOT BE UNDER MALAYSIAN TAX AS ACCORDING TO KOREAN TAX LAW ANY INCOME DERIVED FROM SOURCE WITHIN KOREA WHETHER THE PERSON IN RESIDENT OR NON RESIDENT, THEN THIS INCOME SHALL BE TAXED IN KOREA ITSELF.

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