IRB to address tax collection gaps

PUTRAJAYA: The Inland Revenue Board of Malaysia (IRB) will step up efforts to address the gaps existing in the current income tax collection system in order to achieve its tax collection target, says Deputy Finance Minister Datuk Johari Abdul Ghani.
Among the gaps that needed to be addressed included failure on the part of taxpayers to submit their income tax returns, non-declaration of income and actual tax deduction as well as avoidance of tax payment.
The IRB is targetting a higher tax collection of RM142 billion this year from RM140 billion last year but has scaled down the figure to around RM130 billion for next year against a backdrop of falling oil prices. – Bernama