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Chat Gov hunt coinminers, LHDN

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jack2
post Apr 20 2021, 10:20 AM

Mr
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QUOTE(gogocan @ Apr 20 2021, 07:45 AM)
He didn't declare la..it was IRB findings
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I dont think IRB is able to find out.
jack2
post Apr 20 2021, 10:31 AM

Mr
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QUOTE(Burningsunz @ Apr 20 2021, 10:31 AM)
you sell usdt directly to other buyer, how they can determine it is gain ?? its just like you transfer money to friend like that.
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cool2.gif cool2.gif cool2.gif
jack2
post Apr 20 2021, 10:44 AM

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This is the outcome from tax audit on the tax declaration submitted for YA 2018-2019 and then IRB found out there were some incoming funds which were not declared (probably checked through the bank accounts) and noted that as profit....
jack2
post Apr 20 2021, 01:40 PM

Mr
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QUOTE(crecar @ Apr 20 2021, 11:39 AM)
the problem is not crypto tax

the problem is who can do crypto tax for me in accordance to LHDN requirements

i ask two small account/tax company and they dont know, so who know? can LHDN do crypto tax for me?

i put my profits in USDT, is it taxed? or it get taxed only when the money transfer to my bank account?
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I can do for you but the fee/charges is not cheap.
jack2
post Apr 20 2021, 01:46 PM

Mr
********
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QUOTE(Computer^freak @ Apr 20 2021, 01:45 PM)
If you mine it in Malaysia, you still need to pay tax.
Even if you transfer your crypto to your SG company and sell it in SG.
You can read this under transfer pricing in IRB's public ruling.

So far, what I can say. Even though people have the perception that Malaysia's civil service is incompetent.
However, their taxation department is actually very effective in countering loopholes and tax avoidance  icon_idea.gif
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many bravo in lowyat to recommend such.
jack2
post Apr 20 2021, 07:26 PM

Mr
********
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QUOTE(whyamiblack @ Apr 20 2021, 11:27 AM)
No problem to include crypto in taxing for day-trading but how they count losses? If the fella gain 100k on his portfolio but dropped 200k, still need to pay 100k tax? Die lo
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They want profit only... Losses u makan sendirilah hahas
jack2
post Apr 27 2021, 12:12 PM

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This is true case. I know the poster

 

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