IRB to stop collecting PTPTN loan repayments via payroll cuts from Nov 1
Bernama
October 31, 2015 08:30 MYT
October 31, 2015 08:30 MYT
All employers who deducted their employees' salaries for the loan repayment should submit payment directly to PTPTN. - File Photo
The Inland Revenue Board (IRB) will stop collecting National Higher Education Fund Corporation (PTPTN) loan repayments through payroll deductions beginning Nov 1.
IRB's statement on Friday said all employers who deducted their employees' salaries for the loan repayment should submit payment directly to PTPTN.
"The government has decided that from Nov 1, 2015, the IRB will no longer act as a collection agent for PTPTN loans," the statement said.
Anyone with questions about PTPTN loan repayments through payroll deductions could liaise directly with PTPTN at 03-20986484/7336/6462.
Currently, the number of borrowers is 2.37 million involving a total loan amount of RM53.7 billion.