CYBERJAYA: The Inland Revenue Board (IRB) has collected more than RM55 billion in taxes as of early July, said its chief executive officer Datuk Sabin Samitah.
He said the amount was higher than the collection during the same period last year.
"We are looking forward to the third and fourth quarters and hope to achieve this year’s target," he told a press conference after IRB’s Hari Raya Aidilfitri open house here.
This year, IRB aims at collecting RM127 billion in taxes compared to RM114 billion it collected last year.
Sabin said 25 per cent from RM225million in tax arrears had been collected as of June 30.
"We hope to collect 90 per cent of the total by Dec 31, through our Ops KUTiP," he said.
Meanwhile, as of June 30, a total of 336,382 Form B submissions were received by IRB, an increase of 0.54 per cent, compared with 334,572 forms for the same period last year.
"Of the total, 313,593 forms were received via e-Filing and 22,789 manually.
"Five days left for individuals who have business income that have yet to submit their Income Tax Return Form (ITRF) for assessment year 2016."
Initially, the deadline to submit ITRF was June 30, however it has been extended to July 15.