Serious Are High Value Personal Gifts Taxable?

[destroyer]

Hello All may I ask you something?

If a friend of mine gives me 25 million SGD Singapore Dollars as a gift to myself and not to my company, is it treated as taxable from IRAS?

 

[syed putra]

From what i know, if money from source are already taxed, and its a gift or loan, not taxable. So my accountant friend told me once. But for such a huge number, better ask najib.

 

[laksaboy]

Learn from the Tiongs, spend the money on something which can be sold for cash afterwards. Antiques, collectors' items, jewellery etc.

 

[waitifcuk]

From what i know, if money from source are already taxed, and its a gift or loan, not taxable. So my accountant friend told me once. But for such a huge number, better ask najib.

my problem?
ask dr. M