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I need to transfer money from one account to another and I

Customer Question
need a "Tax Clearance Reference...
I need to transfer money from one account to another and I need a "Tax Clearance Reference Code." what does that mean, where do I get it?
Submitted: 6 years ago.Category: Tax
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2/1/2011
Tax Professional: Lev, Tax Advisor replied 6 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,714
Experience: Taxes, Immigration, Labor Relations
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LEV :

Can you please provide more information...? Who exactly asked for "Tax Clearance Reference Code?" What are circumstances of transferring the money? Do you transfer from a foreign country? Any other details about your situation?

JACUSTOMER-l1hmr0z3- :

Ok, yes, I'm trying to transfer money from a bank in another country, to my bank here in the us. I'm doing it online I have all my account info, etc and and all is fine until I get to the final part of account info and it asks for the "Tax Clearance Reference Code." I've never had to enter anything like that before. Its an account my father set up for me, he passed recently, and now I wonder if it's an inheritance type code?

LEV :

That is something I never saw... at least in the US. may I ask from which country do you transfer the money?

LEV :

How did you learn about that account?

JACUSTOMER-l1hmr0z3- :

The account is in the alliance bank in Malaysia.

LEV :

Please give me more time to recearch. I will be back as soon as I find anything.

JACUSTOMER-l1hmr0z3- :

Thank you, XXXXX XXXXX here.

LEV :

Inland Revenue Board of Malaysia issues a tax clearance certificate for those who are retiring or living the country.


When Tax Clearance Letter Is Required


A request for a Tax Clearance letter has to be made when you are:



  1. About to cease an employment

  2. About to retire from service

  3. About to leave Malaysia for an extended period

  4. About to leave Malaysia permanently


Here are forms to use Form CP22A - Pin 1/2005 and Form CP22B - Pin. 4/2005


Form CP 21 - Pin.1/2003


Here is tax clearance letter procedure - http://www.hasil.gov.my/pdf/pdfam/IRBGL_2_2009.pdf


I do not see that the procedure is directly related to your situation, but most likely the bank has some process in place.


I suggest to contact the bank directly - http://www.alliancebank.com.my/index_contactus.html


And inform them that a tax clearance certificate is not related to your situation.

JACUSTOMER-l1hmr0z3- :

Thank you for this information, This makes more sense to me right now. Have contacted the bank, will do so again.

Lev
Lev, Tax Advisor
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