Hi everyone,
My current situation is like this:
I am a citizen here and own a sole proprietorship in Malaysia doing business (IT) with foreign clients, so profits are remitted from outside Malaysia. I pay tax to the Malaysian equivalent of the IRS, so no problem with this.
I also have a Seychelles IBC with nominee director and offshore bank account doing business (also IT) with non-Malaysian clients. Due to control and management I assume its tax residency is in Malaysia. Due to AEoI I can't just invoice the IBC with my sole proprietorship.
Now to the problem: the Seychelles IBC might be able to get projects with profits up to 6-figure USD, how do I structure this properly so that I pay as less tax as possible? 28% tax is a pain.
My current situation is like this:
I am a citizen here and own a sole proprietorship in Malaysia doing business (IT) with foreign clients, so profits are remitted from outside Malaysia. I pay tax to the Malaysian equivalent of the IRS, so no problem with this.
I also have a Seychelles IBC with nominee director and offshore bank account doing business (also IT) with non-Malaysian clients. Due to control and management I assume its tax residency is in Malaysia. Due to AEoI I can't just invoice the IBC with my sole proprietorship.
Now to the problem: the Seychelles IBC might be able to get projects with profits up to 6-figure USD, how do I structure this properly so that I pay as less tax as possible? 28% tax is a pain.