Najib: 1MDB has paid RM671mil in company tax since 2013


KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) has paid RM671.137mil in company tax since 2013, said Datuk Seri Najib Tun Razak.

The Finance Minister told the Dewan Rakyat on Tuesday that the company and its fully-owned subsidiaries received income tax exemption including dividends for a 10-year period from 2010 in line with Section 127 (3A) of the Income Tax Act 1967.

Najib said the tax exemption given to the company does not cover its other subsidiary or those acquired by 1MDB after 2010 such as Edra Global Energy Bhd (Edra).

He also said the tax exemption does not include Real Property Gains Tax.

"In 2013, the company paid a total of RM199,058,000. It paid RM212,911,000 in 2014, and RM259,168,000 in 2015. The company did not pay any tax in 2016 and 2017 as it sold Edra Global Energy Bhd last year," he said in a written reply to Er Teck Hwa (DAP-Bakri).

Er had asked the Finance Ministry to reveal the total amount of tax paid by 1MDB between 2013 and 2017.

He also asked for the number of employees hired by the company in that period, and Najib said that 1MDB had 72 employees in 2013, including one foreign worker. 

Najib then said that 1MDB had 77 employees in 2014, including two foreign workers. 

"In line with the company's rationalisation plan, 1MDB had 35 employees in Dec 2015, 17 employees in Dec last year, and it currently has 16 employees," he said.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

i-City partners Maybank Islamic to stimulate property market
Cagamas concludes issuance of RM200m Islamic MTNs
Ringgit opens slightly higher on firmer crude oil prices
HSBC remains committed to Malaysia, expanding digital banking
Cautious start for Bursa, Serba Dinamik slips in active trade
Quick take: KPower falls 8% in active trade
Quick take: Powerwell rises 4.3% on news of contract win
Trading ideas: Powerwell, MTouche, CMMT, Sedania, Kawan Food
RHB slashes earnings forecasts on Advancecon amid stricter lockdown measures
No excessive downward pressure on ASP, says Hartalega

Stories You'll Enjoy


Vouchers