IRB puts 79,786 tax evaders on notice

Corporate income tax (CITA) is expected to increase by 1.3% to RM70.18bil from RM70.53bil. The main contributor to CITA collection is from the services sector primarily from the financial services.

KUALA LUMPUR (Bernama): The Inland Revenue Board (IRB) has identified 79,786 individuals, companies, organisations, cooperatives and more with property and extraordinary wealth who have yet to pay tax.

IRB chief executive officer (CEO) Datuk Seri Sabin Samitah said they will be sent an offer to voluntarily confess, as well as a notice under Section 79 of the Income Tax Act 1967 to provide more information or clarification.