CYBERJAYA, Jun 14 – The Inland Revenue Board (IRB) has collected about 35% in the targeted RM127.7 billion tax collection for this year as of May 31, said its chief executive officer Datuk Sabin Samitah. He said it’s a satisfying collection and it is expected that in the third and fourth quarters, when the companies make amendments to their tax revenues, they will be able to achieve the target.
Last year’s tax collection was RM114 billion. Sabin said the amount of outstanding taxes currently stood at between RM3 billion and RM4 billion, which were accumulated over the years. Earlier, Sabin had feted orphans and tahfiz students from Puchong, Sepang, Banting and Kajang in a breaking-of-fast which was also attended by Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah. — Bernama