Some 525,000 taxpayers have been audited and investigated for non-compliance, with the Inland Revenue Board (LHDN) imposing RM3.7bil in additional taxes and penalties as of June 30, 2024, says Inland Revenue Board chief executive officer Datuk Dr Abu Tariq Jamaluddin at the National Tax Conference 2024 on Monday (July 22).
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NewsTranscript
00:00A cornerstone of this transformative journey for Malaysia is the implementation of e-invoicing.
00:11It represents our commitment to leverage on technology to create a more robust and reliable
00:17tax system.
00:18E-invoicing will not only simplify the process for businesses, but will also ensure greater
00:24accuracy and compliance.
00:27This initiative aligns with our vision of a transparent, efficient and inclusive economy.
00:34At the Inland Revenue Board of Malaysia, in the last few months we have been rearing up
00:38for the rollout of e-invoicing for the first category of taxpayers, which are those with
00:44a turnover of more than 100 million.
00:47We acknowledge that there are challenges that need to be overcome and therefore we are committed
00:52to providing comprehensive support throughout this journey.
00:55With Tax Administration 3.0 guiding our strategies and e-invoicing enhancing our capabilities,
01:04we will also continue to focus on our enforcement activities through audit and investigation
01:10to ensure that there are no leakages to the government revenue.
01:14Our priority continues to be on high net worth individuals, shadow economy, aggressive tax
01:19planning, online activity, cross-border transactions and offshore financial assets.
01:26As at 30 June 2024, approximately 525,000 taxpayers have been audited and investigated
01:34for various non-compliant issues and an additional tax and penalty totalling RM3.7 billion will
01:41raise against these taxpayers.
01:44George Osborne, during his tenure as UK former Chancellor of Exchequer, when stating that
01:49UK was targeting tax evasion and offshore tax haven, said that everyone must pay their
01:55fair share.
01:57This also rings true for us.
02:00When the compliant pay their taxes and the non-compliant don't, it creates an unjust
02:05society.
02:07So I urge taxpayers that are in doubt of their tax treatment to come forward or seek guidance
02:12from HASIL to avoid being faced with penalties as a result of being audited or investigated.