Dubai properties: IRB hopes to close tax gaps in offshore holdings

DUBAI UNLOCKED | The Inland Revenue Board (IRB) hopes cooperation with other tax authorities can help cover gaps that allow tax avoidance or evasion among individuals and businesses with high-value assets overseas.

Responding to Malaysiakini’s query following the finding that Malaysians own over 500 properties in Dubai, the IRB said automatic data exchanges can help it identify those holding assets abroad, so it can assess if taxes were evaded.

“The IRB has...