Latest news with #OpHazard2.0
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
13 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.
![[UPDATED] Toxic take-down: Cops seize over RM500mil in e-waste crackdown](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fe-waste1906_1750321522.jpg&w=3840&q=100)
New Straits Times
14 hours ago
- New Straits Times
[UPDATED] Toxic take-down: Cops seize over RM500mil in e-waste crackdown
KUALA LUMPUR: Authorities have seized over half a billion ringgit worth of e-waste products and equipment in the Federal Police's latest nationwide crackdown on illegal e-waste processing plants. The Inland Revenue Board (IRB), one of the supporting agencies involved in the operation, estimated that these premises had also evaded more than RM500 million in taxes. Bukit Aman's Internal Security and Public Order Department director Datuk Seri Azmi Abu Kassim said a total of 453 people were arrested during the most recent enforcement round, which targeted 57 premises on June 16. "A total of 12 agencies took part in the operation, dubbed Op Hazard 2.0, which was conducted from June 16 to today. It was led by the police in collaboration with the Department of Environment and the IRB. "We estimate seizures as well as losses to government revenue from this latest operation at RM1.003 billion, comprising RM240 million in e-waste, RM182 million in e-waste components, RM50 million in scrap materials, and RM32 million in other equipment," he said, adding that the IRB had estimated at least RM500 million in tax evasion by the operators. Azmi said that 916 people were screened during the integrated operation, resulting in 453 arrests — including 382 men, 70 women, and one minor — aged between 16 and 70. "From Jan 1, 2024 to till today, we have recorded total seizures valued at RM5.18 billion, with 1,061 arrests and 167 investigation papers opened in connection with e-waste activities under Op E-Waste 1.0, Op E-Waste 2.0, Op Hazard 1.0, and now Op Hazard 2.0," he said. The 57 raided premises were located in Selangor (16), Sabah (12), Kedah and Sarawak (6 each), Perak and Johor (5 each), Penang (4), Kelantan (2) and Terengganu (1) Of the 453 people arrested, only 41 were Malaysians. The rest were foreigners from China, Myanmar, Bangladesh, India, Cambodia, the Philippines, Vietnam, Indonesia, Pakistan, and Nepal. Azmi said intelligence had been obtained on more premises allegedly operating illegally, but on the day of the raids, many of them were found to be closed. "This raises concerns as to whether some operators may have been tipped off in advance," he said. He added that the police would be consulting the Malaysian Anti-Corruption Commission (MACC) to investigate the possibility of insider leaks.
