{"id":73367,"date":"2022-08-05T11:31:12","date_gmt":"2022-08-05T03:31:12","guid":{"rendered":"https:\/\/nomoneylah.com\/?p=73367"},"modified":"2024-04-11T23:48:48","modified_gmt":"2024-04-11T15:48:48","slug":"dividend-withholding-tax-malaysia","status":"publish","type":"post","link":"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/","title":{"rendered":"[Sponsored] All You Need to Know about Dividend Withholding Tax for Malaysians (stocks &#038; ETFs)"},"content":{"rendered":"<p>Did you know? Depending on where you invest, a tax may be charged on your dividends!<\/p>\n<p>Dividend withholding tax is something that most investors are unaware of when <a title=\"\" class=\"aalmanual\" href=\"https:\/\/nomoneylah.com\/2019\/01\/10\/5-differences-between-investing-trading-that-experts-may-not-tell-you\/\">investing<\/a>.<\/p>\n<p>In this post, let&#8217;s learn about dividend withholding tax as a Malaysian, how it affects your investments, and what can you do about it!<\/p>\n<p><strong><span class=\"font-555555\">Related Read:<\/span><\/strong><\/p>\n<ul>\n<li style=\"padding-bottom: 18px;\"><strong><span class=\"font-555555\"><a href=\"https:\/\/nomoneylah.com\/2022\/01\/24\/singapore-reit-etfs\/\" target=\"_blank\" rel=\"noopener\">Singapore <abbr class='c2c-text-hover' title='Fund that manages a portfolio of commercial and\/or private properties.'>REIT<\/abbr> ETFs overview: Earn dividends at 0% dividend withholding tax!<\/a>\u00a0<\/span><\/strong><\/li>\n<li style=\"padding-bottom: 18px;\"><strong><span class=\"font-555555\"><a href=\"https:\/\/nomoneylah.com\/freedomfund\/\" target=\"_blank\" rel=\"noopener\">Freedom Fund: My dividend income portfolio!<\/a><\/span><\/strong><\/li>\n<li><strong><span class=\"font-555555\"><a href=\"https:\/\/nomoneylah.com\/2022\/08\/04\/dividend-income-update-2022\/\" target=\"_blank\" rel=\"noopener\">My monthly dividend income update<\/a><\/span><\/strong><\/li>\n<\/ul>\n<p><span class=\"font-500830\"><span style=\"color: #ffffff;\">p<\/span><\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-663a26f0aa305\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-663a26f0aa305\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#Highlights_of_dividend_withholding_tax\" title=\"Highlights of dividend withholding tax\">Highlights of dividend withholding tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#What_is_dividend_withholding_tax\" title=\"What is dividend withholding tax?\">What is dividend withholding tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#How_does_dividend_withholding_tax_work\" title=\"How does dividend withholding tax work?\">How does dividend withholding tax work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#So_how_do_we_pay_our_dividend_withholding_tax\" title=\"So, how do we pay our dividend withholding tax?\">So, how do we pay our dividend withholding tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#Dividend_withholding_tax_rates_for_Malaysians\" title=\"Dividend withholding tax rates for Malaysians\">Dividend withholding tax rates for Malaysians<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#How_does_it_affect_you\" title=\"How does it affect you?\u00a0\">How does it affect you?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#How_to_deal_with_dividend_withholding_tax_as_an_investor\" title=\"How to deal with dividend withholding tax as an investor\">How to deal with dividend withholding tax as an investor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#A_word_on_tax_on_Foreign_Source_Income_FSI_for_Malaysians\" title=\"A word on tax on Foreign Source Income (FSI) for Malaysians\">A word on tax on Foreign Source Income (FSI) for Malaysians<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#No_Money_Lah_Verdict\" title=\"No Money Lah Verdict\">No Money Lah Verdict<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#FAQ_on_Dividend_Withholding_Tax\" title=\"FAQ on Dividend Withholding Tax\">FAQ on Dividend Withholding Tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#Looking_for_a_reliable_global_broker_ProsperUs_has_you_covered\" title=\"Looking for a reliable global broker? ProsperUs has you covered!\">Looking for a reliable global broker? ProsperUs has you covered!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/#Disclaimers\" title=\"Disclaimers\">Disclaimers<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Highlights_of_dividend_withholding_tax\"><\/span><span class=\"font-555555\">Highlights of dividend withholding tax<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"padding-bottom: 18px;\">Dividend withholding tax is a tax that investors incur while receiving dividends from their investments.<\/li>\n<li style=\"padding-bottom: 18px;\">Depending on what you invest in (stocks or Exchange-Traded Funds (ETFs)), the withholding tax rate will apply to you differently.<\/li>\n<li>Dividend withholding tax impacts each investor differently. In particular, dividend investors should be mindful of the tax when making their investment decisions.<\/li>\n<\/ul>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"What_is_dividend_withholding_tax\"><\/span><span class=\"font-555555\"><strong>What is dividend withholding tax?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Withholding tax is a method that a country uses to collect taxes from non-residents who have derived income from the country.<\/strong><\/p>\n<p>As an example, when we invest in stocks in a foreign country (eg. the US), the dividends that we received from our investments are usually charged with a withholding tax. To be precise, that\u2019s what we call <em><strong>\u2018dividend withholding tax\u2019<\/strong><\/em>.<\/p>\n<p>So, how does dividend withholding tax work? How does it affect us as an everyday investor?<\/p>\n<p>Let\u2019s find out!<\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"How_does_dividend_withholding_tax_work\"><\/span><span class=\"font-555555\"><strong>How does dividend withholding tax work?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Depending on what you invest in, the way a dividend withholding tax will apply to your investments will differ:<\/p>\n<h3><span class=\"font-555555\"><strong>Scenario 1: You invest in stocks<\/strong><\/span><\/h3>\n<p><strong>If you invest in stocks, your dividend withholding tax rate is determined by <em>your country of residenc<\/em>e. <\/strong><\/p>\n<p>Most of the time, the rate is determined by whether Malaysia has a tax treaty with the other country.<\/p>\n<p>So, if you invest in US stocks as a Malaysian, you are charged with a 30% dividend withholding tax. If you invest in Singapore stocks, you will enjoy a 0% rate as a Malaysian.<\/p>\n<h3><span class=\"font-555555\"><strong>Scenario 2: You invest in funds such as Exchange Traded Funds (ETFs)<\/strong><\/span><\/h3>\n<p><strong>The dividend withholding tax rate of an <abbr class='c2c-text-hover' title='A publicly listed fund that usually tracks the performance of a collective basket of assets like stocks and bonds.'>ETF<\/abbr> is determined by <em>the country where the fund is domiciled in<\/em>.<\/strong><\/p>\n<p>Simply put, \u2018domicile\u2019 refers to the country where a fund\u2019s holding company is legally incorporated.<\/p>\n<p>What\u2019s the difference though? Glad you asked.<\/p>\n<p><strong>Essentially, <em>not<\/em> every ETF listed in a country is necessarily domiciled in that country.<\/strong><\/p>\n<p>For instance, Singapore has its own <abbr class='c2c-text-hover' title='An index that tracks the top 500 listed companies in the US.'>S&amp;P500<\/abbr> ETF (which tracks the top 500 listed companies in the US) listed on its exchange, namely the <a href=\"https:\/\/www.ssga.com\/sg\/en\/individual\/etfs\/funds\/spdr-sp-500-etf-trust-s27\" target=\"_blank\" rel=\"noopener\">SPDR S&amp;P 500 ETF Trust (SGX code: S27)<\/a>. <strong>However, if you dig into the fund\u2019s prospectus, you\u2019d notice that S27 is actually a US-domiciled fund.<\/strong><\/p>\n<p><strong>Hence investors of S27 ETF, regardless of country of residence, are subjected to a 30% dividend withholding tax.<\/strong><\/p>\n<figure id=\"attachment_73385\" aria-describedby=\"caption-attachment-73385\" style=\"width: 668px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/SG-ETF-tax.jpg\"><img decoding=\"async\" class=\" wp-image-73385\" src=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/SG-ETF-tax.jpg\" alt=\"S27 prospectus on dividend withholding tax for non-US residents\" width=\"668\" height=\"272\" srcset=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/SG-ETF-tax.jpg 739w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/SG-ETF-tax-300x122.jpg 300w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><\/a><figcaption id=\"caption-attachment-73385\" class=\"wp-caption-text\">S27 prospectus on dividend withholding tax for non-US residents<\/figcaption><\/figure>\n<p><strong>Meanwhile, S&amp;P500 ETFs such as <a href=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/253743\/ishares-sp-500-b-ucits-etf-acc-fund?switchLocale=y&amp;siteEntryPassthrough=true\" target=\"_blank\" rel=\"noopener\">CSPX<\/a> and VUAA are <em>Ireland-domiciled ETFs<\/em> listed on the London Stock Exchange (LSE). Since Ireland has a tax treaty with the US, Ireland-domiciled ETFs are only subjected to a 15% withholding tax.<\/strong><\/p>\n<p>As a result, instead of investing in US-domiciled funds, Ireland-domiciled ETFs are usually the go-to choice for investors outside of the US to gain exposure to the US market due to favourable tax conditions.<\/p>\n<figure id=\"attachment_73389\" aria-describedby=\"caption-attachment-73389\" style=\"width: 631px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/cspx-ETF-tax.jpg\"><img decoding=\"async\" class=\"wp-image-73389\" src=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/cspx-ETF-tax.jpg\" alt=\"CSPX Ireland-Domiciled ETF\" width=\"631\" height=\"464\" srcset=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/cspx-ETF-tax.jpg 1024w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/cspx-ETF-tax-300x221.jpg 300w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/cspx-ETF-tax-768x565.jpg 768w\" sizes=\"(max-width: 631px) 100vw, 631px\" \/><\/a><figcaption id=\"caption-attachment-73389\" class=\"wp-caption-text\">CSPX is an Ireland-domiciled S&amp;P500 ETF with a more favorable withholding tax condition (15%)<\/figcaption><\/figure>\n<p><strong><span class=\"font-555555\">READ MORE: <a href=\"https:\/\/nomoneylah.com\/2021\/12\/14\/invest-in-sp500-index\/\" target=\"_blank\" rel=\"noopener\">Guide: How to invest in S&amp;P500 as a non-US resident<\/a><\/span><\/strong><\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"So_how_do_we_pay_our_dividend_withholding_tax\"><\/span><span class=\"font-555555\">So, how do we pay our dividend withholding tax?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Essentially, the dividend withholding tax is deducted automatically from your dividends <u>BEFORE<\/u> it is distributed to you. <\/strong><\/p>\n<p><strong>As such, as a Malaysian, it is <em>NOT compulsory<\/em> for you to declare dividend income to LHDN again while filing for personal income tax<\/strong><strong>.<\/strong><\/p>\n<p>As an example, Apple decides to pay out $0.10 distribution per share to investors. Let\u2019s say you own 1,000 shares, you\u2019d receive:<\/p>\n<ul>\n<li style=\"padding-bottom: 18px;\"><strong>Without dividend withholding tax: $100 in dividends ($0.10*1000 shares)<\/strong><\/li>\n<li><strong><em>With<\/em> dividend withholding tax deducted (30% for US-listed stocks): $70 in dividends ($0.10*70%*1000 shares)<\/strong><\/li>\n<\/ul>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"Dividend_withholding_tax_rates_for_Malaysians\"><\/span><span class=\"font-555555\"><strong>Dividend withholding tax rates for Malaysians<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Below, you can find the dividend withholding tax rates relevant to most Malaysian investors:<\/p>\n<p><span class=\"font-500830\"><span style=\"color: #ffffff;\">p<\/span><\/span><\/p>\n\n<div class=\"wpdt-c row wpDataTableContainerSimpleTable wpDataTables wpDataTablesWrapper\n\"\n    >\n        <table id=\"wpdtSimpleTable-9\"\n           style=\"border-collapse:collapse;\n                   border-spacing:0px;\"\n           class=\"wpdtSimpleTable wpDataTable\"\n           data-column=\"2\"\n           data-rows=\"11\"\n           data-wpID=\"9\"\n           data-responsive=\"0\"\n           data-has-header=\"0\">\n\n                    <tbody>        <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-bold\"\n                                            data-cell-id=\"A1\"\n                    data-col-index=\"0\"\n                    data-row-index=\"0\"\n                    style=\" width:54.545454545455%;                    padding:10px;\n                    \"\n                    >\n                                        Country                    <\/td>\n                                                <td class=\"wpdt-cell wpdt-bold\"\n                                            data-cell-id=\"B1\"\n                    data-col-index=\"1\"\n                    data-row-index=\"0\"\n                    style=\" width:45.454545454545%;                    padding:10px;\n                    \"\n                    >\n                                        Dividend Withholding Tax Rate                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A2\"\n                    data-col-index=\"0\"\n                    data-row-index=\"1\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Malaysia                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B2\"\n                    data-col-index=\"1\"\n                    data-row-index=\"1\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        0% (10% for REITs)                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A3\"\n                    data-col-index=\"0\"\n                    data-row-index=\"2\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Singapore                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B3\"\n                    data-col-index=\"1\"\n                    data-row-index=\"2\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        0%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A4\"\n                    data-col-index=\"0\"\n                    data-row-index=\"3\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Hong Kong                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B4\"\n                    data-col-index=\"1\"\n                    data-row-index=\"3\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        0%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A5\"\n                    data-col-index=\"0\"\n                    data-row-index=\"4\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        UK                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B5\"\n                    data-col-index=\"1\"\n                    data-row-index=\"4\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        0%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A6\"\n                    data-col-index=\"0\"\n                    data-row-index=\"5\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        China                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B6\"\n                    data-col-index=\"1\"\n                    data-row-index=\"5\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        10%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A7\"\n                    data-col-index=\"0\"\n                    data-row-index=\"6\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Canada                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B7\"\n                    data-col-index=\"1\"\n                    data-row-index=\"6\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        15%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A8\"\n                    data-col-index=\"0\"\n                    data-row-index=\"7\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Australia                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B8\"\n                    data-col-index=\"1\"\n                    data-row-index=\"7\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        15% on unfranked dividends. 0% on franked dividends.                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A9\"\n                    data-col-index=\"0\"\n                    data-row-index=\"8\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Japan                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B9\"\n                    data-col-index=\"1\"\n                    data-row-index=\"8\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        15%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A10\"\n                    data-col-index=\"0\"\n                    data-row-index=\"9\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        Ireland-Domiciled ETFs (London Stock Exchange)                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B10\"\n                    data-col-index=\"1\"\n                    data-row-index=\"9\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        15%                    <\/td>\n                                        <\/tr>\n                            <tr class=\"wpdt-cell-row \" >\n                                <td class=\"wpdt-cell wpdt-align-left\"\n                                            data-cell-id=\"A11\"\n                    data-col-index=\"0\"\n                    data-row-index=\"10\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        US                    <\/td>\n                                                <td class=\"wpdt-cell \"\n                                            data-cell-id=\"B11\"\n                    data-col-index=\"1\"\n                    data-row-index=\"10\"\n                    style=\"                    padding:10px;\n                    \"\n                    >\n                                        30%                    <\/td>\n                                        <\/tr>\n                    <\/table>\n<\/div><style id='wpdt-custom-style-9'>\n<\/style>\n\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"How_does_it_affect_you\"><\/span><span class=\"font-555555\"><strong>How does it affect you?\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dividend withholding tax affects investors differently.<\/p>\n<ul>\n<li>\n<h4><span class=\"font-555555\">Growth investing &#8211; minimal impact<\/span><\/h4>\n<\/li>\n<\/ul>\n<p>If you invest in growth-related stocks or ETFs like Tesla and ARKW, the impact of dividend withholding tax is minimal.<\/p>\n<p>The reason is, growth stocks do not usually pay high dividends (or they do not pay dividends at all).<\/p>\n<ul>\n<li>\n<h4><span class=\"font-555555\">Dividend investing \u2013 significant impact<\/span><\/h4>\n<\/li>\n<\/ul>\n<p><strong>As for dividend investors, it is essential to be aware of dividend withholding tax while investing. <\/strong><\/p>\n<p>Since dividends make up a significant portion of the overall return of dividend-focused stocks\/ETFs, it is crucial to take into account the impact of withholding tax.<\/p>\n<p>For instance, assuming you invest $100,000 in a US dividend portfolio that generates a 6% <a title=\"\" class=\"aalmanual\" href=\"https:\/\/nomoneylah.com\/2022\/08\/19\/dividend-investing-terms\/#2_Dividend_yield_DY\">dividend yield<\/a> annually. Below is the total dividend that you&#8217;d earn without dividend withholding tax (0%):<\/p>\n<p><strong><a href=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a.jpg\"><img decoding=\"async\" class=\"aligncenter wp-image-73382\" src=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a.jpg\" alt=\"\" width=\"829\" height=\"401\" srcset=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a.jpg 1127w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a-300x145.jpg 300w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a-1024x495.jpg 1024w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-a-768x371.jpg 768w\" sizes=\"(max-width: 829px) 100vw, 829px\" \/><\/a><\/strong><\/p>\n<p><strong>In this case, a 30% dividend withholding tax would cause you to end up with over 42% (~$93,000) <em>less<\/em> in dividend income over the span of 20 years!<\/strong><\/p>\n<p>In short, it is obvious that dividend withholding tax will impact the returns of dividend investors as a whole.<\/p>\n<p><a href=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b.jpg\"><img decoding=\"async\" class=\"aligncenter wp-image-73383\" src=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b.jpg\" alt=\"\" width=\"832\" height=\"402\" srcset=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b.jpg 1134w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b-300x145.jpg 300w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b-1024x495.jpg 1024w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/07\/6-percent-DY-b-768x371.jpg 768w\" sizes=\"(max-width: 832px) 100vw, 832px\" \/><\/a><\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"How_to_deal_with_dividend_withholding_tax_as_an_investor\"><\/span><span class=\"font-555555\"><strong>How to deal with dividend withholding tax as an investor<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Usually, most investors would look to the US stock market while investing globally.<\/p>\n<p>However, the 30% dividend withholding tax from the US can be very costly, especially to investors holding stocks where dividends form a significant portion of their returns.<\/p>\n<p>Here are some of the things you can do to reduce the impact of dividend withholding tax on your long-term returns:<\/p>\n<ol>\n<li style=\"padding-bottom: 18px;\"><strong><em>Generally<\/em>, avoid dividend stocks\/ETFs that are listed or domiciled in the US. <\/strong>For ETFs, you can find out the domicile details on the official site or prospectus of the fund.<\/li>\n<li style=\"padding-bottom: 18px;\"><strong><strong><strong><strong><strong><strong>Opt for stocks\/ETFs that are listed or domiciled in markets with 0% withholding tax, such as Singapore and Hong Kong.\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/li>\n<li><strong>Alternatively, you can also opt for Ireland-domiciled ETFs that are listed on the London Stock Exchange (LSE) or Canadian-listed stocks\/ETFs, which are generally more tax efficient (15%).<\/strong><\/li>\n<\/ol>\n<p><span class=\"font-500830\">Regardless of the market, <strong>ProsperUs by CGS-CIMB<\/strong> has you covered with access to 30+ stock exchanges (US, Hong Kong, China, Japan, UK, Singapore, Malaysia, Europe, and more!).<\/span><\/p>\n<p><span class=\"font-500830\">Check out <strong><a href=\"https:\/\/nomoneylah.com\/2021\/11\/26\/prosperus-review\/\" target=\"_blank\" rel=\"noopener\">my ProsperUs review HERE<\/a><\/strong>.<\/span><\/p>\n<h3><span class=\"font-555555\">Side note:\u00a0<\/span><\/h3>\n<p>With 0% withholding tax, the Singapore REIT market is one of the most established REIT markets in Asia, and it pays a decent dividend as well! Click <a href=\"https:\/\/nomoneylah.com\/2022\/01\/24\/singapore-reit-etfs\/\" target=\"_blank\" rel=\"noopener\"><strong>HERE<\/strong> to learn more about Singapore REIT ETFs<\/a>!<\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"A_word_on_tax_on_Foreign_Source_Income_FSI_for_Malaysians\"><\/span><span class=\"font-555555\">A word on tax on Foreign Source Income (FSI) for Malaysians<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the production of this post, <strong>Malaysians are not required to pay any further tax on dividends received from overseas investments<\/strong>, <em>aside<\/em> from the existing Dividend WHT explained in this article.<\/p>\n<p>That said, the government did propose to tax FSI in Budget 2022 (announced in 2021). This means when Malaysians <em>transmit income back to Malaysia from overseas (including dividends)<\/em>, there will be a tax to be paid.<\/p>\n<p><strong>However, coming into December 2021, the plan (tax on FSI for Malaysians) is put on hold until 31st December 2026.\u00a0<\/strong><\/p>\n<p><strong>In short, for your overseas dividends, you are <em>not<\/em> required to pay any tax aside from the Dividend WHT mentioned in this post &#8211; at least until 2026.\u00a0<\/strong><\/p>\n<figure id=\"attachment_73431\" aria-describedby=\"caption-attachment-73431\" style=\"width: 376px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/08\/fsi-tax.jpg\"><img decoding=\"async\" class=\" wp-image-73431\" src=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/08\/fsi-tax.jpg\" alt=\"Foreign Income Source Tax Malaysia\" width=\"376\" height=\"392\" srcset=\"https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/08\/fsi-tax.jpg 735w, https:\/\/nomoneylah.com\/wp-content\/uploads\/2022\/08\/fsi-tax-287x300.jpg 287w\" sizes=\"(max-width: 376px) 100vw, 376px\" \/><\/a><figcaption id=\"caption-attachment-73431\" class=\"wp-caption-text\">Tax on Foreign Source Income is put on hold until 2026 (Source: FMT)<\/figcaption><\/figure>\n<p>Will any of these policies change (for the better or worse)?<\/p>\n<p>Based on my understanding of the Malaysian government&#8217;s policy-making habits, I think it is hard to tell and I have zero control over this. <strong>So, I will focus on continuing to grow my dividend portfolio instead of worrying about the things that <em>may or may not<\/em> happen.\u00a0<\/strong><\/p>\n<p>I will keep this section updated if there&#8217;s any news!<\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"No_Money_Lah_Verdict\"><\/span><span class=\"font-555555\"><strong>No Money Lah Verdict<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>I hope this guide has been clear and helpful!<\/p>\n<p>I&#8217;ve received many tax-related questions on dividends in the past and I think we may have overcomplicated things due to a lack proper of information.<\/p>\n<p>If you have any questions, feel free to let me know in the comments section below!<\/p>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"FAQ_on_Dividend_Withholding_Tax\"><\/span><span class=\"font-555555\">FAQ on Dividend Withholding Tax<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Q1: As a Malaysian, do I need to declare my dividend income while filing for income tax?<\/strong><\/p>\n<blockquote><p><em>No, you are NOT required to declare your dividend income while filing for personal income tax in Malaysia.\u00a0<\/em><\/p><\/blockquote>\n<p><strong>Q2: How do I pay for dividend withholding tax on my dividends?<\/strong><\/p>\n<blockquote><p><em>You DO NOT need to pay for dividend withholding tax directly. Instead, they are deducted before your dividends are paid to you. In short, the dividends that you are receiving have been offset by withholding tax &#8211; <strong>there is nothing you have to do on your end.<\/strong>\u00a0<\/em><\/p><\/blockquote>\n<p><strong>Q3: Is dividend investing still a reliable approach with dividend withholding tax around?<\/strong><\/p>\n<blockquote><p><em>Personally, I think dividend investing is still the most reliable way to build passive income. Meanwhile, dividend withholding tax is just part of the game, not a bug.\u00a0<\/em><\/p>\n<p><em>I will give additional thoughts into withholding tax while doing my research, but it will not deter me from building my dividend income portfolio!<\/em><\/p><\/blockquote>\n<p><strong>Q4: What is the difference between &#8216;franked&#8217; and &#8216;unfranked dividends&#8217; for Australia-listed stocks\/ETFs?<\/strong><\/p>\n<blockquote><p><em>A franked dividend is a system set by the Australian government to eliminate double taxation in dividends. <\/em><\/p>\n<p><em>As such, franked dividend is paid with a tax credit attached, where shareholders submit the dividend income plus the franking credit as income but will only be taxed on the dividend portion.<\/em><\/p>\n<p><em>Meanwhile, unfranked dividends carry no tax credit. Since the company has not paid tax on the dividends paid, you will have to pay income tax on the particular dividend that you received as an Australian.\u00a0<\/em><\/p><\/blockquote>\n<hr class=\"wp-block-separator is-style-dots\" \/>\n<h2><span class=\"ez-toc-section\" id=\"Looking_for_a_reliable_global_broker_ProsperUs_has_you_covered\"><\/span><span class=\"font-555555\">Looking for a reliable global broker? ProsperUs has you covered!<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong><span class=\"font-500830\">This educational post is sponsored by ProsperUs by CGS-CIMB.<\/span><\/strong><\/p>\n<p><span class=\"font-500830\"><strong>ProsperUs by CGS-CIMB is a regulated <a title=\"\" class=\"aalmanual\" href=\"https:\/\/nomoneylah.com\/2019\/06\/30\/stock-trading-account\/\">broker<\/a> from Singapore that gives investors access to 30+ exchanges in more than 8 countries.\u00a0<\/strong>(US, Hong Kong, China, Japan, UK, Singapore, Malaysia, Europe, and more!)<\/span><\/p>\n<p>Now that you&#8217;ve learned about dividend withholding tax, you have the choice to invest in countries with a more efficient tax rule via ProsperUs!<\/p>\n<p><span class=\"font-500830\">In addition, ProsperUs offers multiple instruments from stocks, ETFs, futures, options, Forex, and CFDs. This is great for investors looking to diversify across different asset classes.<\/span><\/p>\n<h3><span class=\"font-500830\">Exclusive ProsperUs Referral Code \u2013 MONEY20<\/span><\/h3>\n<p><span class=\"font-500830\">If you are thinking to give ProsperUs a try, here\u2019s something exclusive to No Money Lah readers \u2013 you will not find this anywhere else!<\/span><\/p>\n<p><span class=\"font-500830\"><strong>From today till 30\/6\/2024, key in my exclusive promo code \u2018MONEY20\u2019 while you register, and get <u>FREE cash credits up to SGD100 <\/u>when you open a ProsperUs account:<br \/>\n<span style=\"color: #ffffff;\">p<\/span><br \/>\n<\/strong><\/span><\/p>\n\n<table id=\"tablepress-22\" class=\"tablepress tablepress-id-22\" aria-describedby=\"tablepress-22-description\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\">Tier<\/th><th class=\"column-2\">Initial funding within 30 days of account set up<\/th><th class=\"column-3\">Trades Executed<\/th><th class=\"column-4\">Cash Credits<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Minimum SGD500 \u2013 SGD2,999<\/td><td class=\"column-3\">Minimum 3 trades executed<\/td><td class=\"column-4\">SGD10<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Minimum SGD3,000 \u2013 SGD14,999<\/td><td class=\"column-3\">Minimum 3 trades executed<\/td><td class=\"column-4\">SGD20 (Deposit SGD3000 or more), OR<br \/>\n<br \/>\nSGD20 + SGD30 (Deposit SGD3000 or more + Min. trades fulfilled)<br \/>\n<br \/>\n<br \/>\n<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">SGD15,000 or more<br \/>\n<br \/>\n<\/td><td class=\"column-3\">Minimum 3 trades executed<\/td><td class=\"column-4\">SGD20 (Deposit SGD3000 or more), OR<br \/>\n<br \/>\nSGD20 + SGD100 (Deposit SGD15,000 or more + Min. trades fulfilled)<br \/>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<span id=\"tablepress-22-description\" class=\"tablepress-table-description tablepress-table-description-id-22\"><br \/>\n<\/span>\n<!-- #tablepress-22 from cache -->\n<p><span class=\"font-500830\">Click <strong><a href=\"https:\/\/www.prosperus.asia\/terms-condition-for-prosperus-account-opening-campaign-for-my-clients\/\" target=\"_blank\" rel=\"noopener\">HERE<\/a> <\/strong>to view the full T&amp;C of this referral reward.<\/span><\/p>\n<p style=\"text-align: center;\"><a class=\"wp-block-button__link has-text-color has-very-dark-gray-color has-background\" style=\"background-color: #ff9900; border-radius: 16px;\" href=\"https:\/\/account.prosperus.asia\/SSOPortal\/onboarding\" target=\"_blank\" rel=\"https:\/\/www.stashaway.my\/ref\/no-money-lah-DQgMBA0JCw4FCgAEBA4ICA noopener\"><strong><span class=\"has-inline-color\" style=\"color: #ffffff;\">Open a ProsperUs Account Today!<\/span><\/strong><\/a><\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Disclaimers\"><\/span><span class=\"font-555555\">Disclaimers<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span class=\"font-555555\">This article is brought to you in collaboration with ProsperUs by CGS-CIMB.<\/span><\/p>\n<p><span class=\"font-555555\">Any of the information above is produced with my own best effort and research.\u00a0<\/span><\/p>\n<p><span class=\"font-555555\">This post is produced purely for sharing purposes and should not be taken as a buy\/sell recommendation. Past return is not indicative of future performance. Please seek advice from a licensed financial planner before making any financial decisions.<\/span><\/p>\n<p><span class=\"font-555555\">This post may contain promo code(s) that afford No Money Lah a small amount of commission (and help support the blog) should you sign up through my referral link<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Did you know? Depending on where you invest, a tax may be charged on your dividends! Dividend withholding tax is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73396,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[110,333,339],"tags":[117,184,325,328,358,359],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[Sponsored] All You Need to Know about Dividend Withholding Tax for Malaysians (stocks &amp; ETFs) - No Money Lah<\/title>\n<meta name=\"description\" content=\"Dividend withholding tax is how a country taxes the non-residents who have derived dividend income from the country. When Malaysians invest in the US, the dividends that we received are usually charged with a 30% withholding tax.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nomoneylah.com\/2022\/08\/05\/dividend-withholding-tax-malaysia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[Sponsored] All You Need to Know about Dividend Withholding Tax for Malaysians (stocks &amp; ETFs)\" \/>\n<meta property=\"og:description\" content=\"Dividend withholding tax is how a country taxes the non-residents who have derived dividend income from the country. 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