Do you know that Crypto Trading & Services are subject to tax in Malaysia?

Do you know that Crypto Trading & Services are subject to tax in Malaysia?

The Ministry of Finance (MoF) recently confirmed that income from crypto activities like trading, mining, and exchanges in Malaysia is taxable under the Income Tax Act 1967 (Section 4).

This is because cryptocurrencies are treated like commodities and considered business income.

On top of that, digital services (including crypto trading platforms) provided by both local and foreign companies are subject to Service Tax under the Service Tax Regulations 2018.

This ensures fair taxation between local and foreign service providers.

How InTune Outsourcing Can Support SME Business Owners?

InTune Outsourcing is one of the Malaysia’s Most Advanced and Top Outsourced Accounting, Finance, HR and Payroll services providers.

We have served more than 400 clients todate and InTune offer full-range services from start up to small to medium-sized companies.

InTune takes away the stress and pains from managing Accounting, Finance, Payroll and HR, including Bookkeeping, Payment Services, Accounts Payable, Accounts Receivable, Payroll and more, by providing an expert team of CPAs and other accounting professionals who understand the special accounting needs of growing businesses.