KUALA LUMPUR: The Inland Revenue Board (IRB) has identified 79,786 eligible tax payers who failed to pay their income taxes.
The numbers include individuals, companies and organisations that own extraordinary amount of property and wealth but failed to declare their assets.
IRB chief executive officer Datuk Seri Sabin Samitah said the board had sent out voluntary recognition offer letters with notice under Section 79 of the Income Tax Act 1967 to request for additional information and justification.
“Those who have received this notice shall provide IRB with response within 30 days of the notice being served. Failure to do so within the stipulated period may result them being charged under Section 120 ACP 1967 – a fine of not less than RM200 and not more than RM20,000 or imprisonment for a term of not exceeding six months or both upon conviction,” he said.
He was speaking to reporters after the Inland Revenue Board National Tax Seminar 2018 here, today.
On another note, Sabin said IRB’s tax collection in the first eleven months of this year rose 11 per cent, compared with the same period last year.
He said the higher tax contribution was fuelled by higher petroleum profits by Petroliam Nasional Bhd, companies tax and income taxes.
“This increase may also be due to taxpayers’ confidence in the new government in administering the country's finances,” he said.