Board: GST will have no impact on 2015 tax collection
target
KUALA LUMPUR: The Inland Revenue Board (IRB) said
the impending Goods & Services Tax (GST) would not
affect this year's tax collection target of RM142.6
billion from RM133.7 billion reported last year.
Deputy Finance Minister Datuk Ahmad Maslan had
previously said that the GST implementation is
expected to reduce income tax collection by as much
as RM6.12 billion, whereas the implementation of the
minimum wage policy would see a RM2.4 billion
decrease in corporate tax.
However, IRB CEO Tan Sri Dr Mohd Shukor Mahfar said
the reduction in income tax, as well as corporate
tax, would not impact this year's total tax
collection, explaining that the RM142.6 billion tax
collection target announced by the government during
the Budget 2015 announcement last year had taken
into account the new tax regime implementation. |
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He added that the GST
would not have a negative impact on the country's tax
collection due to the collective efforts made by the IRB
to establish effective and convenient methods for
taxpayers to pay their taxes.
On March 1, 2015,
IRB launched a new facility under its online services
umbrella by providing credit card payment service, made
available through VISA, MasterCard and American Express
credit cards issued in Malaysia.
''With this
added service, we hope to facilitate the payment of
taxes in a fast and secure manner,'' he told reporters
after officiating the Malaysia Tax Forum 2015, which is
jointly organised by the IRB and Chartered Tax Institute
of Malaysia (CTIM).
He said IRB is also looking
into integrating simpler work systems to ease the tax
payment procedures, include simplifying the e-Filing
system of tax returns and improving the online
facilities, such as e-Kemaskini Syarikat (Company
self-update online) and e-BNTC (Self amendment towards
assessment or information declared online for companies)
Source:::
The Sun Daily , dated 11/03/2015......... |