CYBERJAYA, March 10 — The Inland Revenue Board (LHDN) will focus on the implementation of e-invoicing, expansion of the tax base, enforcement activities, tax corporate governance, the global minimum tax, self-assessment systems for stamp duty and real property gains tax, and Labuan business activity tax this year.
LHDN chief executive officer Datuk Abu Tariq Jamaluddin said to ensure these efforts are successful, the agency has developed various strategies and initiatives and has established close cooperation with the relevant agencies.
Its 29th anniversary celebration this year also serves as the best platform for LHDN to introduce its latest products, he said in his speech during the 29th Revenue Day celebration launched by Prime Minister Datuk Seri Anwar Ibrahim here today.
Abu Tariq said the agency will introduce Tekad HASiL 2026-2030, a preamble stating the top administration’s aspirations and commitment to ensure that the agency remains relevant and effective in carrying out its responsibilities to drive the nation’s economic growth over the next five years.
He said that over nearly three decades, LHDN has undergone significant transformation and is now not only recognised as the country’s direct tax collection agency, but also appreciated for its role in assisting more than eight million Malaysians who are eligible for direct assistance through various government aid programmes.
He noted that LHDN showed an encouraging performance in 2024 in auditing and investigating 70,702 cases involving various selected industries, hence generating additional tax assessments of nearly RM5.5 billion.
Last year, Malaysia’s direct tax collection stood at RM184.805 billion, an increase of RM1.465 billion over the RM183.34 billion collected in 2023.
“(Last year) marked a historic milestone with the launch of e-invoicing. The development of this system which enables phase one taxpayers to use it within less than a year is an extraordinary achievement that has now become a benchmark and reference for other countries,” he said.
On its role as the implementing agency for the government cash assistance programme in 2024, he said it managed to process all applications received in 2024, involving 8,685,024 recipients with an allocation of RM6.77 billion.
He said LHDN is committed to assisting this large group of people who should also benefit from the tax revenue arising from the nation’s prosperity.
— Bernama
