IRB yet to receive share of special dividend from Petronas

PETALING JAYA: The Inland Revenue Board (IRB) has started giving out refunds for the RM16.04 billion unreturned tax refunds although it has yet to receive its share of the RM30 billion special dividend from Petronas.

“We have not received the money yet. We have started giving refund but the big amount as mentioned by the Minister of Finance will come through the special dividend by Petronas. I’m not sure whether the dividend has already been given (to the government) or not,” IRB CEO Datuk Seri Sabin Samitah (pix) said a media briefing today.

During the tabling of Budget 2019, the government had announced a RM30 billion special dividend payment from Petronas to fully settle the outstanding tax refunds estimated at RM37 billion comprising RM18 billion of income taxes and RM19 billion of Goods and Services Tax (GST).

Meanwhile, Sabin said the response for the special voluntary disclosure programme (SVDP) has been progressing within expectations, after about two months into its implementation.

“So far the outcome is very encouraging…It is up to our expectations (but) it is not beyond our expectations because maybe some taxpayers would want to wait and see whether they can trust the IRB or not,” he noted.

He noted that a task force has been set up to look at the group of taxpayers who have accumulated assets that do not match their declaration.

Under the SVDP, IRB has identified some 80,000 tax dodgers comprising 76,000 individuals and 4,000 companies, who were yet to pay or declare their taxes.

The IRB has previously said it is looking to collect some RM10 billion from the SVDP.

Source: The Sun Daily

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