IRB conducts operation to reduce tax leakage from cryptocurrency trading

PUTRAJAYA, June 15 — The Inland Revenue Board recently carried out a special operation codenamed Ops Token, in line with the government’s desire to reduce tax revenue leakage from cryptocurrency trading and improve the country’s tax administration.

“Through the operation, cryptocurrency trading data stored in mobile devices and computers were found and we successfully identified the value of digital assets being traded, which caused a very significant leakage of tax revenue,” said the the IRB in a statement today. Meanwhile, IRB chief executive officer Datuk Dr Abu Tariq Jamaluddin said in the same statement that any individual involved in cryptocurrency trading in the country is subject to income tax in Malaysia.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PLUS to open contraflow lane from June 10 to 12 on Elite Highway near PutrajayaAlmost three quarters of respondents believe they will need to work beyond retirement age, Schroders survey showedYounger people tend to choose conservative investment options, only realising too late that their retirement needs will not be met
Source: staronline - 🏆 4. / 75 Read more »