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Published: Saturday December 29, 2012 MYT 2:24:00 PM
By EDMUND NGO
IPOH: The Inland Revenue Board (IRB) exceeded its tax collection target this year, setting a record collection of RM124.692bil as of Dec 28.
Finance Minister II Datuk Seri Ahmad Husni Hanadzlah lauded the results, as the collection had surpassed the ministry's earlier target of RM109bil set in the 2012 Budget.
“When we realised that the IRB was on track to go beyond the RM109bil target, we revised the amount to RM123.825bil, which the IRB also surpassed.
“The Government's revenue is an important factor in the management of the country's wealth and one of its largest sources is IRB, which showed a large increase this year.
“The reason for the increase was because the Government set Key Performance Indicators (KPIs) for 10 tax activities including tax collection, auditing, electronic services such as e-Filing and IRB's staff's competency,” he said in a press conference here Saturday.
"Apart from that, the IRB has also expanded its enforcement by having solved 1,898,956 audit cases totalling RM2.94bil through its auditing team, which is then added into the tax collection.
“The amount of cases solved this year was 50.42%, a dramatic increase compared to 636,204 cases solved in 2011. The IRB auditing team has improved its efficiency,” he said, adding that investigations of high profile cases were another RM653mil.
In 2011, IRB collected RM109.6bil, surpassing its target of RM91bil.
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