Inland Revenue Board and Customs Department exceeded targets, says Anwar

PUTRAJAYA: The country’s two top revenue collectors made impressive collections last year, helping the government to strengthen its coffers, says the Prime Minister.

Datuk Seri Anwar Ibrahim, who is also Finance Minister, said that the Inland Revenue Board had recorded RM183bil in collection for 2023 while the Customs Department collected RM55bil.

“The Customs Department collection has surpassed its target, and we thank them for the hard work,” he said at the ministry’s first gathering for 2024 on Tuesday (Jan 9).

In 2022, the department collected 53.54bil for the country

The revenue board has also surpassed its collection target by RM7bil.

Earlier reports said that the revenue board’s tax collection target for last year was RM176bil.

Anwar also said he had given government-link companies and government-link investment companies to reduce their foreign investment portfolios.

“They should focus more on investing domestically.

“We will discuss again whether it should be 20% or 25% of their total investment portfolio,” he said.

The Prime Minister said all parties must play their part to boost domestic investment.