Latest news with #HishamRusli
The Sun
12 hours ago
- Business
- The Sun
Op Hazard 2.0: IRB to probe financial records of 57 raided e-waste premises
KUALA LUMPUR: The Inland Revenue Board (IRB) will scrutinise the financial records of 57 premises raided during the integrated Op Hazard 2.0 operation, launched on June 16 to crack down on the illegal processing of electrical and electronic waste (e-waste). IRB deputy chief executive officer (Compliance) Datuk Hisham Rusli said preliminary investigations discovered that the illegal e-waste processing factories had collectively evaded taxes exceeding RM500 million. 'Based on current information, several of the premises appear to be operated by the same owner, and we are investigating this further,' he said at a joint press conference with the director of the Bukit Aman Internal Security and Public Order Department (JKDNKA) today. Hisham said that from a taxation standpoint, illegal factories typically either fail to report their income or declare figures significantly lower than their actual earnings. 'We will thoroughly examine their financial records. What we've discovered is that these e-waste processing products are often re-exported at prices many times higher than their original value,' he said. A total of 57 premises involved in the illegal processing of electrical and electronic waste (e-waste) were raided nationwide during the three-day integrated Op Hazard 2.0 operation, with total seizures estimated at RM500 million. The breakdown of the seizures during the operation includes RM240 million worth of e-waste, RM182 million in e-waste components, and RM50 million in worn-out goods. Additionally, items linked to other offences were valued at RM32 million. The value of tax-related investigations stemming from the raids is estimated at approximately RM500 million.
![[UPDATED] IRB probes RM500mil tax evasion in illegal e-waste crackdown](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fewaste_Tax1906_1750322679.jpg&w=3840&q=100)
![[UPDATED] IRB probes RM500mil tax evasion in illegal e-waste crackdown](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
14 hours ago
- Business
- New Straits Times
[UPDATED] IRB probes RM500mil tax evasion in illegal e-waste crackdown
KUALA LUMPUR: The Inland Revenue Board (IRB) will be combing through the financial records of the 57 premises at the centre of the recent joint crackdown on illegal e-waste processing. IRB deputy chief executive officer (compliance) Datuk Hisham Rusli said investigations suggest that these illegal processing plants have collectively evaded half a billion ringgit in taxes. "Based on the current information at hand, some of these premises were operated by the same owner," he told reporters at federal police headquarters today. The IRB was among 12 agencies supporting federal Internal Security and Public Order Department in its latest crackdown on e-waste, dubbed Op Hazard 2.0, which ran from June 16 until today. Hisham said there was a possibility that some operators either did not declare their taxes or had under-declared them. "We believe these premises were paid to receive e-waste. "Then they processed the e-waste and received further payments based on the various metals extracted from the smelting process. "Their financial records and accounts will all be analysed further," he said, adding that they believed the finished products were being shipped out, with the operators receiving large payouts. Federal police Internal Security and Public Order Department director Datuk Seri Azmi Abu Kassim said they would continue to involve the IRB in future operations targeting illegal e-waste activities.
