IRB putting more resources to collect revenue from ‘shadow economy’

06 Nov 2019 / 11:34 H.

KUALA LUMPUR: The Inland Revenue Board (IRB) will be putting more resources into the enforcement next year to tackle missing revenue from the “shadow economy”.

Shadow economy refers to economic activity that is undeclared for which taxes that should be paid are not.

IRB’s chief executive officer Datuk Seri Dr Sabin Samitah said the agency would be allocating 80% of its staff for enforcement next year, in line with its focus to address the issue of missing revenue from the shadow economy. — Bernama

email blast