PM Anwar: More taxes collected, more benefits the government will give to the people

Screenshot 20240302 080619 Facebook

KUALA LUMPUR: The commitment of the Inland Revenue Board of Malaysia (IRBM) or HASiL’s staff to uphold the value of fairness and prosperity in line with the MADANI Economic Framework had resulted in the collection of direct taxes amounting to RM183.34 billion – the highest figure in history.

Prime Minister Datuk Seri Anwar Ibrahim who is also the Minister of Finance said, the tax issue is sensitive amongst the people but we must be aware that the tax is an important instrument which enables the government to give financial space to provide welfare services to the people.

“The more taxes collected the more benefits the government will give to the people,” Anwar said in his Facebook post, Friday.

“The fact is that Malaysia’s tax collection is far lesser compared to other countries. Our tax collection is 11.2 per cent and the economy size is far smaller than our neighbour Thailand that has a tax ratio to the Gross Domestic Product (GDP) amounting to 16.2 per cent.

“Singapore is said to have low tax regime and the tax revenue of 12.6 per cent from the GDP. Nevertheless the main objective of the government is to ensure fairness in the collection of taxes by putting a full stop to the immunity of the elite group and filthy rich from their responsibilities to pay taxes to the country.

“They cannot get away from paying taxes and possibly this group is small in numbers but the property they reaped have too high values,” he said in his speech when launching the 28th Revenue Day Celebration, organised by HASiL, Friday.

Anwar then thanked HASiL for putting its main target this year that is to silence the tax leakages from the wealthy individuals, shadow economy and the income that is kept overseas.

“I wish HasiL good luck in silencing the tax leakages of the very wealthy people from paying tax,” he said. –Malaysia World News



more recommended stories