Tuesday June 25, 2013

IRB on track to collect RM130bil tax this year


KUALA LUMPUR: The Inland Revenue Board (IRB) is on track to achieve its target of RM130bil in tax collection this year due to the country's political stability and robust domestic growth.

IRB chief executive officer Tan Sri Dr Mohd Shukor Mahfar attributed the growth to initiatives under the Economic Transformation Programme as well 1Malaysia People's Aid (BR1M), which has given people extra purchasing power.

“Last year's strong GDP (gross domestic product) growth has a positive effect to the country's economy, as reflected in the current good business environment,” he said after the National Tax Conference 2013.

In 2010, the IRB collected RM86.47bil in taxes, RM109.68bil in 2011 and RM124.87bil last year.

Mohd Shukor said its effort to rebrand the Taxpayer Service Month to HASiL4U, where taxpayers are served throughout the year instead of the previous practice from March to June, had also helped in the efforts to achieve the targeted RM130bil.

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