IRB vital as nation's top revenue source, says its CEO

KUCHING: The Inland Revenue Board (IRB) plays a significant role as a leading contributor to the nation's revenue, says its chief executive officer Tan Sri Dr Mohd Shukor Mahfar (pix).
"As such, it is our utmost priority to ensure that the direct tax collected fulfils the target set by the government," he said in his speech read by Sarawak IRB director Datin Josephine John at the National Tax Seminar 2014, here, today.
He said at the same time, the IRB had to explore various avenues to ensure that its customers could transact with it in a conducive and favourable manner in fulfilling their tax obligations.
"There's no denying that this large amount of revenue collection towards the federal coffers when combined with revenue collection from other revenue agencies goes to fund much of the government's expenditure," he added.
He said in line with the seminar's theme, "Budget 2015: The People's Economy", the amendments proposed to the tax law reflected the government's concern in relieving the people's burden and seven main strategies were outlined.
These include strengthening economic growth, enhancing fiscal governance, developing human capital and entrepreneurship, and advancing the Bumiputera agenda.
The other strategies are upholding the role of women, developing the national youth transformation programme and prioritising the well-being of the people.
Mohd Shukor said for the first time since the tax seminar was organised, IRB Malaysia was collaborating with the Royal Customs Department to provide speakers on the topic of "GST & Income Tax".
On the national tax seminar, he said it provided an important platform to enhance the level of tax literacy in the community.
"A high level of tax literacy will ensure a community of responsible taxpayers who are fully aware of their tax obligations, such as reporting the correct amount of income and paying their taxes on time," he said. – Bernama