Taxman wants individuals with overseas bank accounts to declare income

  • Economy
  • Friday, 8 Feb 2019

KUALA LUMPUR: Individuals with overseas bank accounts and those having previously undeclared income are being urged to report it immediately to the Inland Revenue Board of Malaysia (IRB).

The IRB said it had begun receiving information, particularly with regards to ownership of overseas bank accounts from September 2018, under the Automatic Exchange of information (AEOI) with the Organisation for Economic Cooperation and Development (OECD).