CYBERJAYA, May 10 — The tax collection showed a positive trend with daily collection recording a 20 per cent increase this year compared with last year, Inland Revenue Board (LHDN) chief executive officer Datuk Mohd Nizom Sairi said.
If the positive trend continues, LHDN could achieve or even exceed its revenue collection target of RM176.1 billion this year.
“We are at a very encouraging stage. Thank you to the taxpayers who continue to maintain a good level of compliance,” he told reporters at the Hari Raya Aidilfitri celebration ceremony attended by Deputy Minister of Finance Steven Sim Chee Keong, earlier today.
Asked about the impact of the increase in overnight policy rate (OPR) on tax collection, Mohd Nizom said there would be an indirect impact on tax collection but not immediately.
Meanwhile, the A.E.S (awareness, education and services) approach introduced by LHDN will be streamlined to continuously elevate taxes as a national asset in order to increase the trust of the people.
He said Prime Minister Datuk Seri Anwar Ibrahim, who is also the Minister of Finance, wishes that if the country’s income from direct tax sources continued to increase, the government will be able to return the benefits to the people.
“Certainly, various beneficial agendas for the people can be realised. The living standard quality and well-being of the people will also be enhanced through various development projects as a result of sufficient sources of the country’s income,” Mohd Nizom added.
On May 3, Bank Negara Malaysia’s (BNM) monetary policy committee (MPC) decided to increase the overnight policy rate (OPR) by 25 basis points to three per cent.
Last year, LHDN recorded a historic-high direct tax collection of RM175.4 billion, an increase of 21.75 per cent compared with 2021.
— Bernama
