Ministry explains digital currencies are treated as commodities, can be deemed business income

KUALA LUMPUR, March 11 — Taxpayers can refer to Eduzone provided by the Inland Revenue Board (LHDN) to view the list of income tax reliefs for e-Filing, presented in a simple and easy-to-understand poster format, said Selangor LHDN chief deputy director Mohd Fairuz Mhd Omar.

KUALA LUMPUR, Feb 19 — Chief Justice Tun Tengku Maimun Tuan Mat emphasised that tax-related issues should be raised before the Special Commissioner for Income Tax (SCIT), not through judicial review in the courts.

KUALA LUMPUR, Nov 19 — The Finance Bill 2024 tabled in the Dewan Rakyat today aims to amend the Income Tax Act 1967, Real Property Gains Tax Act 1976, Stamp Act 1949, Petroleum (Income Tax) Act 1967, Finance Act 2012, and Finance Act 2023.

KUALA LUMPUR, Oct 21 — The introduction of a two per cent tax on dividend income exceeding RM100,000 for individual shareholders, beginning in the 2025 assessment year, reflects an equitable contribution towards Malaysia’s tax revenue by different segments, said Treasury secretary-general Datuk Johan Mahmood Merican.

KUALA LUMPUR, Nov 3 — The Youth and Sports Ministry (KBS) through the National Sports Council (NSC) is cooperating with the Inland Revenue Board (LHDN) to intensify advocacy and consultation sessions on financial management for national athletes.

KUALA LUMPUR, Feb 24 — The individual income tax rate for Malaysian residents will be reduced by two per cent for income bands of over RM35,000 to RM100,000 this year, Prime Minister Datuk Seri Anwar Ibrahim announced today.

KUALA LUMPUR, Feb 23 — Individual and non-individual taxpayers can submit their Tax Return Form (BN) for the Year of Assessment 2022 through e-Filing from March 1, according to the Inland Revenue Board (IRB).

KUALA LUMPUR, Feb 23 — The Malaysian government through the Inland Revenue Board (IRB) today objected to Tan Sri Muhammad Shafee Abdullah's application to obtain leave from the court to file a counterclaim against IRB’S demand that he pays income tax arrears amounting to RM9.41 million.

PUTRAJAYA, Jan 17 — Datuk Seri Najib Razak and his son Datuk Mohd Nazifuddin Najib’s appeals against the summary judgments entered against them over income tax arrears will be heard by the Federal Court on March 13.

KUALA LUMPUR, June 14 — The High Court here today declared Eric Tan Kim Loong, who is alleged to be an associate of fugitive businessman Low Taek Jho or Jho Low, bankrupt after failing to pay income tax of RM68,334,219.01 to the government.

KUALA LUMPUR, May 18 — Former prime minister Datuk Seri Najib Tun Razak’s son, Datuk Mohd Nazifuddin has been served a bankruptcy notice failing to pay income tax amounting to RM37.6 million as ruled by the High Court in July last year.

KUALA LUMPUR, May 17 — The Malaysian government, through the Inland Revenue Board (IRB), has filed a suit against lawyer Tan Sri Muhammad Shafee Abdullah, seeking payment amounting to RM9.41 million in tax arrears for five assessment years.

KUALA LUMPUR, Feb 8 — The Government of Malaysia through the Inland Revenue Board of Malaysia (IRB) has filed a suit against Eric Tan Kim Loong, who is alleged to be an ally of fugitive businessman Low Taek Jho or Jho Low, demanding that Tan pay income tax totalling RM68 million.

KUALA LUMPUR, Dec 16 — The Covid-19 treatment and vaccine costs for parents of taxpayers can be tax deducted under expenses for medical, special needs and parental care, the Dewan Rakyat was told today.

PUTRAJAYA, June 22 — The Inland Revenue Board Malaysia (IRBM) has reminded non-business taxpayers of the June 30 deadline to submit their income tax return forms for the year of assessment 2019.

PUTRAJAYA, June 3 — The deadline to file the various income tax return forms (BNCP) for the assessment year of 2019 for those who do not own a business has been extended to June 30.

KUALA LUMPUR, May 8 — The hearing on the Inland Revenue Board's (IRB) application for a summary judgment against former Prime Minister Datuk Seri Najib Tun Razak over the payment of RM1.69 billion in income tax has been postponed to June 22.