IRB collected 35 per cent of targeted taxes as of May 31

The Inland Revenue Board (IRB) has collected about 35 per cent in the targeted RM127.7 billion tax collection for this year as of May 31, said its chief executive officer Datuk Sabin Samitah.

"It''s a satisfying collection and it is expected that in the third and fourth quarters, when the companies make amendments to their tax revenues, we will be able to achieve the target," he told reporters here today.

Last year's tax collection was RM114 billion.

Sabin said the amount of outstanding taxes currently stood at between RM3 billion and RM4 billion, which were accumulated over the years.

Earlier, Sabin had feted orphans and tahfiz students from Puchong, Sepang, Banting and Kajang in a breaking-of-fast which was also attended by Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah. - BERNAMA