Tax collection hits RM124.69 billion, surpassing target
Posted on December 30, 2012, Sunday
IPOH: The Inland Revenue Board (IRB)’s tax collections hit RM124.69 billion as of yesterday, surpassing the target set by the Finance Ministry for this year.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the collections exceeded both the original projection of RM109.09 as well as the ministry’s revised projection of RM123.82 billion. “LHDN had succeeded in going past the government’s projection. The tax collection increased by 13.76 per cent compared with RM109.61 billion in 2011. The collection in 2011 was also an increase by 26.72 per cent compared with the RM86.49 billion made in 2010,” he told reporters here yesterday.
He said the excellent performance from LHDN was supported by several strategies including the Key Performance Index (KPI) in 10 tax activities which covered revenue collection, uncollected account, efficiency in collection costs, external audit, repayments, investigations and LHDN’s electronic services as well as training for officers and staff, among others.
There had been regular monitoring as well by the KPI Monitoring Committee to ensure that the targets were met with, he said.
In terms of enforcement, the agency also expanded its auditing action and concentrated on high impact cases and had successfully solved 1.89 million cases involving an amount of RM2.94 billion and also other high profile cases coming to RM653 million in collections.
Ahmad Husni, who is also member of parliament for Tambun, said other improvements and enhancements in the provision of services to tax payers such as the e-Filing, e-Register, and e-Payment services as well as prompt repayments also contributed to efficiency in tax collections.
Last March, Prime Minister Datuk Seri Najib Tun Razak had said that LHDN’s success in achieving a 27 per cent increase in the tax collections for 2011 compared with 2010 was an extraordinary achievement.
He had said that the RM109.7 billion tax revenue collection for 2011 had enabled the government to not only provide more services to the people but had also provided for the public sector to increase its investments. — Bernama