Investigation – taboo subject that’s a step into the future

Dig deep: Commercial and residential buildings in the heart of Kuala Lumpur. Tomorrow the national budget will be announced and it comes amid a call for tax investigations to be stepped up. — Bloomberg

WITH just a day to go to the unveiling of our nation’s budget, there is no doubt in my mind that whatever form Budget 2023 might take on – be it an election budget or a recession circumventing budget – this is certain: the efficiency of raising of tax revenue and collection by the government would be vital.

Since the country embarked on a self-assessment tax regime in 2001, the Inland Revenue Board (IRB) has been pivotal in the administration, assessment, collection and enforcement of direct taxes for the government.