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IRB eyeing those with great wealth

IRB eyeing those with great wealth

New Straits Times

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Dato’ Sri Sabin Samitah, the CEO of the Inland Revenue Board (IRB),  revealed that the IRB has been monitoring social media and bank accounts of people who have unexplained and extraordinary wealth, especially those in possession of large amount of cash, luxury cars, jewellery and property, during a dialogue with KPMG on the Special Voluntary Disclosure Programme (SVDP). He stated that a taskforce was set up in September 2018 to look into taxpayers who seemed to have unexplained extraordinary wealth.

“Please come clean with your income declaration. We will assure taxpayers confidentiality, under the SDVP, as they come forward to pay up the tax amount owing to the government,” Sabin said.

Dato’ Ooi Kok Seng, special officer to the finance minister, who was also present, stated that the Finance Ministry was still in discussion with Petronas regarding the one-off special dividend of RM30 billion that will go towards the refund of Goods and Services Tax, income tax and real property gains tax of RM37 billions which had been announced during Budget 2019. “As of now, the Finance Ministry has yet to receive the money from Petronas. Once we receive the sum, I assure you the relevant agencies will expedite the refunds as soon as possible,” Ooi added.

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IRB eyeing those with great wealth

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