PUTRAJAYA, June 19 — The Inland Revenue Board (IRB) has identified several individuals and companies engaged in cryptocurrency trading as part of efforts to curb tax revenue...
IRB chief executive officer Datuk Dr Abu Tariq Jamaluddin said the high frequency of cryptocurrency trading transactions has prompted IRB to review data for potential tax implications. — Picture by Hari AnggaraPUTRAJAYA, June 19 — The Inland Revenue Board has identified several individuals and companies engaged in cryptocurrency trading as part of efforts to curb tax revenue leakage and enhance national tax administration.
“We understand that if there are a lot of transactions, profits from cryptocurrency trading are taxable. Abu Tariq emphasised that individuals engaged in cryptocurrency trading in Malaysia are liable for income tax and those needing clarification on tax matters can reach out to IRB or access the “Through TCG, organisations can deepen their comprehension of tax regulations related to business activities and fortify their internal systems for sustained tax compliance,” he said.
Targets Cryptocurrency Traders As Tax Crackdown Begins
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