IRB collected RM114.015b in taxes for 2016

SUBANG JAYA: The Inland Revenue Board (IRB) collected RM114.015 billion in taxes for 2016, which made up more than half of overall government revenue for the year.
IRB chief executive Datuk Sabin Samitah said this underscores the department's vital responsibility to ensure that the government has enough funds for its development programmes.
"IRB plays that role, ensuring at all times that the nation's resources in the form of direct tax collection is sufficient to fund the development agenda of the country," he said in his keynote address at the Malaysia Employers Federation (MEF) — IRB Seminar 2017.
Sabin said employers share that responsibility too as they collect taxes from their employees and pass it on to IRB so cooperation is in the best interest of both parties.
He then encouraged all businesses to submit their E-forms electronically especially since e-filing is now mandatory for companies.
However, Sabin noted that only 51.7% or 229,393 out of 443,418 employers submitted their E-forms electronically in 2016, but this was expected to increase for 2017.
The seminar is titled "Taxation and Employers" and Sabin's keynote address was delivered in his absence by his deputy Datuk Azian Abdul Hamid.
The seminar focused on issues such as mandatory e-filing, implementation of payroll audit, a company director's tax and debt liabilities under the Income Tax Act and Property Gains Act, and etc.
It also marked the 8th anniversary of the ongoing collaboration between MEF and IRB in organising similar seminars in the preceding years.