Tax defaulters will not only be banned from leaving the country, but may be listed under the Central Credit Reference Information System (CCRIS) for intentionally delaying tax payments.
The Inland Revenue Board (IRB) made the suggestion today in a move to curb tax evasion where it is expected to take place early next year.
According to IRB CEO, Datuk Sabin Samitah the matter is currently being discussed with Bank Negara.
"Even though it is still in discussion, we are very serious with the suggestion and we are confident of getting support from all relevant agencies," he told reporters at a press conference, here today.
When asked whether the move was "too harsh" Sabin stressed that all these while they had been very lenient with tax payers.
"I don't think it's too harsh because before we bar them from leaving the country, we gave them enough time to come and see us to arrange payments via installment," he said.
Once blacklisted under the CCRIS, one may risk difficulty in obtaining loan approval from financial institutions for personal loans, credit cards, housing loans and vehicle loans.
Currently, under Section 104 of the Income Tax Act 1967 and Section 22 of the Real Property Gains Tax Act 1976, individuals who fail to settle their taxes will be barred from leaving the country.
Tan Su Lin
Thu Dec 15 2016
The Inland Revenue Board (IRB) made the suggestion today in a move to curb tax evasion where it is expected to take place early next year. - Filepic
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