Malaysia – The High Court in Kuala Lumpur was informed that the two checks totaling RM9.5 million received by lawyer Tan Sri Muhammad Shafee Abdullah from Datuk Seri Najib Razak were not a loan. Rather than that, former Inland Revenue Board (IRB) tax officer Syed Nasrul Fahmi Syed Mohamad said that the checks were advanced payments for legal services performed …

Malaysia – The Dewan Rakyat unanimously approved the Finance Bill 2021 recently. When concluding the discussion on the bill, Deputy Finance Minister I Datuk Mohd Shahar Abdullah said that a research on the abolition of the tax exemption on foreign-sourced income had been conducted two years ago. He said that it required the ministry to interact with connected parties, including …

Malaysia – Datuk Seri Ahmad Maslan paid a penalty of RM1.1 million for failing to disclose RM2 million from Datuk Seri Najib Razak to the Inland Revenue Board, as explained by the Malaysian Anti-Corruption Commission (MACC). According to the commission, the compound payment was a form of punishment for money laundering. MACC stated in a statement published recently that Ahmad …

The Commercial Crime Investigation Department of the federal police announced that it has launched a probe into the Inland Revenue Board (IRB) after former Prime Minister Datuk Seri Najib Razak filed a police complaint against it. On September 9, Najib accused IRB officials of conspiring with unidentified politicians to collect RM1.7 billion in tax arrears and bankrupt him in its …