Finance Minister Lim Guan Eng says LHDN will continue to implement efficient tax laws to improve the effectiveness of the agency’s enforcement activities in dealing with the shadow economy.
Noting that the government collected RM145.08 billion from direct taxes last year, Guan Eng said that the sum was almost 6% – or RM8 billion – more than the amount collected in 2018. “Apart from showcasing effective leadership, the increase in taxes also showed that the economy is growing well,” he added.
With the shadow economy in developed nations and developing nations set at around 5% and 12% respectively, the minister said the issue was one his officers were fully aware of.
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