What are the current regulations regarding capital gains tax on cryptocurrency in Malaysia?

3 answers

• Nov 26, 2021 · 3 years ago
  In Malaysia, the current regulations regarding capital gains tax on cryptocurrency are still evolving. As of now, the Malaysian government has not provided specific guidelines on how to treat cryptocurrency gains for tax purposes. However, it is important to note that the Inland Revenue Board of Malaysia (IRBM) has stated that any income derived from cryptocurrency activities should be declared and subject to income tax. Individuals and businesses involved in cryptocurrency trading or mining should consult with a tax professional to ensure compliance with the existing tax laws.
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• Nov 26, 2021 · 3 years ago
  The regulations regarding capital gains tax on cryptocurrency in Malaysia are quite unclear at the moment. While the government has not issued specific guidelines, it is advisable for individuals and businesses to report any income derived from cryptocurrency activities and consult with a tax professional to determine the appropriate tax treatment. It is important to stay updated with the latest developments in the regulatory landscape to ensure compliance and avoid any potential penalties or legal issues.
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• Nov 26, 2021 · 3 years ago
  As a third-party, I cannot provide specific information on the current regulations regarding capital gains tax on cryptocurrency in Malaysia. However, it is important for individuals and businesses to stay informed and consult with a tax professional to ensure compliance with the existing tax laws. The Malaysian government may issue guidelines or regulations in the future, so it is crucial to stay updated with the latest developments in order to properly report and pay taxes on cryptocurrency gains.
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