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Income tax collection heading to record high

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PETALING JAYA: Income tax collection has surged by 20%, compared with the previous year’s collection during the same period, says deputy finance minister Steven Sim.

Sim said that during a visit to the Inland Revenue Board headquarters in Cyberjaya, he was informed that the tax collection had reached RM104.94 billion as of July 31.“I believe LHDN is poised to establish a record for the country’s revenue collection by the end of this year, based on its remarkable current performance,” he said in a statement. Sim also said 13,109 companies and individuals had taken part in the Special Voluntary Disclosure Programme 2.0 since its commencement on June 6.

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