Tax Identification Number to be introduced in Jan 2021, says deputy finance minister | Malay Mail

Thursday, 09 Jan 2020 05:09 PM MYT

This initiative would ensure no taxpayers fail to fulfil their tax obligations, while providing justice to those who have long been responsible in paying their taxes, he said. In his speech that was read out by Inland Revenue Board chief executive officer Datuk Seri Dr Sabin Samitah, Amiruddin said the government is expected to collect RM244.5 billion in revenue in 2020, an increase of RM11.2 billion from 2019, after excluding the one-off Petronas special dividend of RM30 billion.

This, he said, was considerably lower than Vietnam, Chile, Poland and South Korea, which had tax-to-GDP ratios of 19.0 per cent, 17.4 per cent, 16.8 per cent and 15.4 percent, respectively.

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