Expert Info
on 4 Jan 2012
I have sent some money over to Malaysia to open an account as aparently I had to do that. The account has been opened and the money i sent over to open the account is in the account however when I try to transfer my money back (not all of it) they say I owe taxes on it. Is this correct as the money I earned here in NZ and only sent it over as they insisted I needed to, to open the account but I don't understand why I have to pay taxes on it. the other thing is they are saying that i have to pay them the money from here in nz but it can't come out of my account that has been set up over there is this correct and if so how do I get around this as it is the only lot of money I have and it is going to take me a while to save up to pay the taxes that they are asking for. I look forward to your speedy reply.
Anonymous (not verified) on 5 Jan 2012 - 06:12
Maria, where are you from? If you are a Malaysian citizen working in New Zealand, then perhaps you're being taxes on your worldwide income. Though, it's possible even then that Malaysia has a double taxation agreement with New Zealand, in which case if you can prove you pay taxes in New Zealand, you may not need to pay tax in your home country. Either way though, I would suggest you consult a financial advisor who specialised in expat affairs before you pay anyone any money.
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