Tengku Zafrul said the government is also looking at efforts to fine-tune the tax revenue by addressing the shadow economy, with an estimated size of about 21% of the country's GDP, as well as to curb smuggling of products with high tax rates.
PUTRAJAYA: The government hopes the Inland Revenue Board (IRB) is able to achieve its tax collection target of RM127 billion this year, as well as the direct tax collection target of RM143.9 billion for 2021, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said the role and function of the IRB are very important to ensure tax collection is always at the optimum level even though collection activities during the Covid-19 pandemic is very challenging, in order to balance the hardship faced by affected traders and responsibility as a tax administrator.
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