Widening the tax net - Edge Weekly
"If the system is good, there are very small leakages and the actual revenue is collected, obviously the tax rate will go down.” — Mohd Nizom
By Chester Tay and Esther Lee / The Edge Malaysia
22 Jun 2023, 02:00 pm
This article first appeared in The Edge Malaysia Weekly on June 12, 2023 - June 18, 2023
THE atmosphere was tense, with lawsuits and dispute cases piling up, when Inland Revenue Board (IRB) CEO Datuk Mohd Nizom Sairi took the helm about 20 months ago. He has done a good job since he took up the role in October 2021 if one uses the size of the tax collection as the main key performance indicator (KPI).
IRB’s gross direct tax collection last year was a record high of RM175.4 billion, a 21.75% increase from RM144.1 billion in 2021. And Mohd Nizom is confident that Malaysia will see a fresh record this year.
The amount collected was 9.5% or RM15.2 billion higher than the Ministry of Finance’s (MoF) estimate of RM160.2 billion for 2022.
Click Here to Read More..