KUALA LUMPUR: The Inland Revenue Board (IRB) has once again reached a historic milestone in tax collections, totalling RM183.3 billion in 2023.
Its chief Executive Officer, Datuk Dr Abu Tariq Jamaluddin, said last year's collection marked an increase of RM7.8 billion, or 4.49 per cent, compared with 2022 and was the highest in history.
He said every single ringgit collected by the board from taxpayers contributed significantly to Malaysia's development and stability.
"I would like to express, on behalf of the IRB, our deepest gratitude to all taxpayers who have diligently contributed to the nation's revenue and upheld their responsibilities as taxpayers.
"Undoubtedly, every single ringgit contributed by our citizens is invaluable in ensuring the growth and wellbeing of our beloved nation," he said during today's media briefing.
The IRB has set a tax collection target of RM197 billion for this year, a 7.47 per cent growth from the previous year's amount.
In 2022, tax collections by the IRB amounted to RM175 billion, compared with RM144 billion the year before.
Abu Tariq said the IRB received 64,748 voluntary declaration cases, totalling RM573.476 million, from both new and existing taxpayers through the special voluntary disclosure program (SVDP) up to Jan 31.
He urged taxpayers to participate in the programme, assuring that all disclosures made under it would be exempted from penalties.
"This differs from SVDP 1.0, which collected RM7.88 billion in taxes, additional taxes, and penalties between November 2018 and September 2019.
"There will also be no audits or investigations on taxpayers participating in the programme for their future assessment years."
The SVDP 2.0 programme began on June 6, 2023, and will end on May 31 this year.
Abu Tariq acknowledged the vital role played by the media in delivering reports and encouraged the public to fulfil their duty as taxpayers.
"The role of all of you gathered here today is immensely significant in ensuring tax compliance is at the appropriate level.
"Continuous reporting on taxation issues is crucial to raise awareness among taxpayers about their responsibilities to the nation.
"More importantly, it is to instill a sense of pride in paying taxes rather than viewing it as a burden."