Time to remit foreign income back home?

AGAINST the backdrop of the ever growing local industries as well as the importance of domestic investments being a new catalyst to the Malaysian economy, the national Budget 2004 has been announced.  

Individuals and companies will enjoy a number of tax goodies. One of the most interesting incentives is the proposed income tax exemption on foreign income remitted to Malaysia by a resident individual. We will highlight some of the practical implications arising from this proposal, which may affect our daily life.