Dear UDM'ers,I am a malaysian living abroad planning to head back soon under the returning expat program. Last week i have been strolling around Quill itching to decide which car i would invest on, given i get 2 CKD cars tax free. The salesmen were polite and shared with me the prices for the tax free cars.Question to you all:1) Given i have 2 approvals, does it make sence to buy 2 cars and sell 1 after 2 years? The permit has a restriction of 2 years before selling. I was thinking of 2x520d ...given new one is 330K, what would you think will be the price after 2 years?2) What are your views on the X1 2.0 D? How will that fare in 2 years? I could not find much feedback on the x1s3) Diesel in general. I have been reading some of your debates. However, my uncle had a E90 3.0D and he has been having never ending problems with the car for the many years he owned it. It become so critical, he had to sell the car few months back for a meager 110K and replaced it with a new 528M. The BMW sales person did say the older 530D's where not having local converters for the Diesel like the new generation 520D. Anycase, i am more inclined for Diesels for the power and also the 520D is pretty cheap tax free comparable.One more weired thing i noticed, the price diff between 523 and 528 tax free is only 20K which is weired as BMW malaysia has a much bigger price different OTR with tax.Your advice is appreciated.
returning expat - advice needed
- Thread starter goks
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r1d3r
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goks,
you might want to thoroughly check it with MITI/customs about the tax structure and limitation. AFAIK, returning expats allowed to bring back 2 vehicles tax-free but if it is decided to sell it at any point, owner have to pay the tax.
unlike student AP where tax is paid before registration in malaysia, there is no tax due if decided to sell said vehicles (except no transfer of ownership allowed within 2 years).
you might want to thoroughly check it with MITI/customs about the tax structure and limitation. AFAIK, returning expats allowed to bring back 2 vehicles tax-free but if it is decided to sell it at any point, owner have to pay the tax.
unlike student AP where tax is paid before registration in malaysia, there is no tax due if decided to sell said vehicles (except no transfer of ownership allowed within 2 years).
Hi anxious,
I don't have it with me right now for 3 series, I only enquired about the 5. I will ask the SA for this and revert.
Aside to r1d3r,
Its not the same as what miti offers. This is from talent corp Malaysia. Its specific to working Malaysians abroad to come back and slog in Malaysia for 25% of the salary
. My understanding is that 2 year restriction still applies. I have not clarified it yet as my approvals are still under process and I am still negotiating a job back home. Its a little culture shock to be coming back, though I have been away for only 6 years.
Take care
I don't have it with me right now for 3 series, I only enquired about the 5. I will ask the SA for this and revert.
Aside to r1d3r,
Its not the same as what miti offers. This is from talent corp Malaysia. Its specific to working Malaysians abroad to come back and slog in Malaysia for 25% of the salary
. My understanding is that 2 year restriction still applies. I have not clarified it yet as my approvals are still under process and I am still negotiating a job back home. Its a little culture shock to be coming back, though I have been away for only 6 years.Take care
haywire
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r1d3r;702614 said:
Bro, the 'Bring back 2 cars tax free' scheme has been revoked since last year. Now the Returning Professionals programme only allows them to buy CKD cars here (only certain approved models, not all) with free tax. No more bringing cars back, although they are still eligible to bring in one car using the same structure as Student/Working overseas AP. But still pay tax.
goks;702621 said:Hi anxious,
I don't have it with me right now for 3 series, I only enquired about the 5. I will ask the SA for this and revert.
Aside to r1d3r,
Its not the same as what miti offers. This is from talent corp Malaysia. Its specific to working Malaysians abroad to come back and slog in Malaysia for 25% of the salary
Take care
Bro, for about 10 years, up until 2010, what bro r1d3r said was right. However the scheme was 'downgraded' and no more free tax car import. My friend, who stayed in UK for about 14 years and been saying about coming back for years is kicking himself for not coming back sooner.
r1d3r
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haywire;702655 said:
Thank you for your explanation and again, I am sorry for my lack of info on the said scheme. I got few friends who brought back vehicles with tax exemption in 2010 so that is why I thought it is still in place. I have googled "talentcorp malaysia" and got better understanding on it. Thanks haywire and goks!
Hey Guys,
Yes, what most of you said is true on the past..we had the MITI returning student overseas working malaysian...which has some benefit but not full tax free.....then Talent corp when they started, they allowed you to bring back 1 car from your host country and if its left handed, you can buy from right hand and ship tax free..then April 2010, Talentcorp changed it to 2 cars CKD.
As it stands, sale restriction is 2 years and after 2 years you can sell without having to pay tax. Yes, you make some money out of it, that probably a form of "incentive" . My ex manager, a malaysian came back MArch 2010 and he qualified for the transition of telcorp benefits between old program where you can bring from host country a car and CKD program...so he eventually purchased a Q7 at sick prices in Dubai 200K RM and i believe he got a 523i CKD in Malaysia for his brother.
The current talentcorp program ceased the import tax free status, so only CKD....so no CBU Buys....which is tough luck...i wanted an X3.
Yes, what most of you said is true on the past..we had the MITI returning student overseas working malaysian...which has some benefit but not full tax free.....then Talent corp when they started, they allowed you to bring back 1 car from your host country and if its left handed, you can buy from right hand and ship tax free..then April 2010, Talentcorp changed it to 2 cars CKD.
As it stands, sale restriction is 2 years and after 2 years you can sell without having to pay tax. Yes, you make some money out of it, that probably a form of "incentive" . My ex manager, a malaysian came back MArch 2010 and he qualified for the transition of telcorp benefits between old program where you can bring from host country a car and CKD program...so he eventually purchased a Q7 at sick prices in Dubai 200K RM and i believe he got a 523i CKD in Malaysia for his brother.
The current talentcorp program ceased the import tax free status, so only CKD....so no CBU Buys....which is tough luck...i wanted an X3.
