Online Businesses - The Taxman Wants You!
Dato’ Yasmin Mahmood | Chan Kok Long | Tan Hooi Beng
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Putrajaya's revenue has taken a hit, thanks to slumping oil prices. Online businesses or e-commerce, an industry that sees a turnover in the billions of ringgit annually, has moved into the Finance Ministry's radar as a potential source of revenue. The Inland Revenue Board has now been tasked with finding a way to milk this. We explore the growth of e-commerce in Malaysia, how taxation can be imposed on it and how the industry itself can be affected.
This is a report by Keith Kam.
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