The Inland Revenue Board (IRB) managed to create history when it collected RM183.3 billion in tax over the past year. It exceeded the set target of RM176 billion and became a new record high.
IRB Chief Executive Officer, Datuk Dr Abu Tariq Jamaluddin said last year's collection recorded an increase of RM7.8 billion (4.49%) compared to 2022, making it the highest in history.
He also said that every ringgit collected by the IRB from taxpayers is important in ensuring the development and stability of Malaysia.
The IRB would like to express its highest appreciation to all taxpayers who are persistent in contributing revenue to the country and shouldering their responsibilities as taxpayers.
The tax collection target set by the IRB for 2024 is RM197 billion with an increase of 7.47% from the previous target amount.
According to previous reports, tax collection by the IRB in 2022 amounted to RM175 billion compared to RM144 billion in the previous year.
Abu Tariq also explained that the IRB received 64,748 voluntary declaration cases amounting to RM573.476 million from new and existing taxpayers through the special voluntary disclosure program (SVDP) as of January 31.
He also urged taxpayers to participate in the program to ensure that all disclosures made under it will be exempt from penalties.
An audit or investigation will be conducted on taxpayers participating in the program for their future assessment year. The SVDP 2.0 program started on June 6, 2023 and will end on May 31 this year.
