Tax questions? You ask lah! #205

Published: Wed, 02/12/25

Updated: Sat, 02/15/25

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

As a citizen of Malaysia, if I have won a lottery in Malaysia, is the prize money subject to income tax in Malaysia?

No, the prize money won from a lottery is considered a capital receipt and is not subject to income tax in Malaysia.

I am a citizen of Malaysia, but a permanent resident in Singapore. I have won a lottery in Singapore. If I remit the prize money back to Malaysia, is the prize money subject to income tax in Malaysia?

No, the prize money won from a lottery is considered a foreign capital receipt, thus when it is remitted back to Malaysia, it is not subject to income tax in Malaysia.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. If you're liking these little tips, you can't imagine how much you'll get out of my course! https://bit.ly/free-webinar-en

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