Govt eyes tax revenue collection of RM139 bln for 2022

Govt eyes tax revenue collection of RM139 bln for 2022

CYBERJAYA: The government expects its tax revenue collection to return to pre-pandemic levels by meeting or surpassing the target of RM139 billion this year, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

He said that to support this goal, the Inland Revenue Board (IRB) management needs to formulate short- and mid-term strategies to achieve the target while maintaining its good performance in the future.

“This includes identifying new economic sectors and implementing the tax laws in a transparent, effective and efficient manner. Indirectly, the effort will increase the Malaysian Family’s trust and ensure that taxpayers fulfil their responsibilities,” he said in his speech for IRB’s 26th Revenue Day celebration here today.

The text of his speech was read out by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

For 2021, Ismail Sabri said revenue collection jumped 17 per cent year-on-year to more than RM140 million while the country’s Gross Domestic Product grew by 3.1 per cent compared with a 5.6 per cent contraction in 2020. — Bernama