IRB will be more aggressive this year…targeting commissioned agents, distributors and multi level marketing

Thursday April 5, 2012

IRB eyes RM110bil in taxes this year

KUALA LUMPUR: The Inland Revenue Board (IRB) aims to collect RM110bil in taxes this year, a slight increase over last year’s RM109.67bil.

Chief executive officer Datuk Dr Mohd Shukor Mahfar said every year about 50% of the tax receipts come from companies, 25% from petroleum income tax, 17% from individuals and the rest from other forms of taxes.

He said news of Petronas’ plan to lower its annual dividend to the Government was of no worry to the IRB.

Mohd Shukor: IRB not worried about lower annual dividend from Petronas.

This is because revenue would come from new oil exploration areas.

Mohd Shukor said the IRB was also targeting 2.8 million taxpayers, who would be e-filers this year, from the 2.5 million who used the e-filing system last year.

“We will also be putting our suggestion for mandatory e-filing in this country,” he said after the 2012 Money Compass Tax Seminar here yesterday.

Mohd Shukor said the latest improvement for 2012 filing season was the introduction of mobile filing or m-filing for individual taxpayers, a modification to e-filing that was targeted at Generation X and Generation Y taxpayers who owned smartphones.

He said individual taxpayers who chose to submit their forms via e-filing would now have up to May 15 to do so. Previously, the deadline was April 30. – Bernama

Source: TheStar

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