CEO: IRB to scru­ti­nise e-com­merce busi­nesses

The Star Malaysia - StarBiz - - News -

KUALA LUMPUR: The In­land Rev­enue Board (IRB) will look deeper into e-com­merce busi­nesses in­clud­ing those lev­er­ag­ing on so­cial me­dia plat­forms, to col­lect in­for­ma­tion on mis­re­ported as­set dec­la­ra­tions, ac­cord­ing to chief ex­ec­u­tive of­fi­cer Datuk Seri Sabin Sami­tah (pic).

He said a task­force was set up in Septem­ber 2018 to look at the mis­match be­tween ac­cu­mu­lated as­sets and de­clared as­sets.

“We will also look into cases of un­ex­plained ex­tra­or­di­nary wealth of both in­di­vid­u­als and com­pa­nies posted on so­cial me­dia,” he told re­porters af­ter at­tend­ing a KPMG di­a­logue with the IRB here yes­ter­day.

Sabin said the task­force would also look into the bank ac­counts given by the e-com­merce play­ers on so­cial me­dia to re­trieve rel­e­vant in­for­ma­tion.

Ac­cord­ing to him, the task­force is set up in par­al­lel with the im­ple­men­ta­tion of the Spe­cial Vol­un­tary Dis­clo­sure Pro­gramme (SVDP), which en­cour­ages tax­pay­ers to vol­un­tar­ily de­clare any un­re­ported in­come un­til June 30. Heav­ily-re­duced penalty rates are be­ing of­fered dur­ing the dis­clo­sure pe­riod.

To date, the board has iden­ti­fied some 80,000 el­i­gi­ble tax­pay­ers, con­sist­ing of com­pa­nies and in­di­vid­u­als, who have failed to pay or de­clare their taxes.

“Of this, 4,000 are com­pa­nies and 76,000 are in­di­vid­u­als,” he said, adding that the board was aware that there were un­cer­tain­ties among tax­pay­ers re­gard­ing the SVDP, es­pe­cially in­volv­ing trust is­sues.

He re­it­er­ated that any vol­un­tary pay­ment would be ac­cepted by the board in good faith and the IRB would not re­quire any rea­son­ing or ask any ques­tion on the as­sets.

With­out dis­clos­ing the 2018 tax col­lec­tion, Sabin said the amount was within the board's tar­get; how­ever, fur­ther de­tail would be an­nounced by Finance Min­is­ter Lim Guan Eng.

“The re­sponse from the pub­lic is very en­cour­ag­ing and up to our ex­pec­ta­tions. How­ever, it is not be­yond ex­pec­ta­tions, as some tax­pay­ers are still think­ing whether they can trust the board,” he added.

Mean­while, tax­pay­ers are now able to sub­mit dis­clo­sures un­der the SVDP via the e-fil­ing sys­tem. — Ber­nama

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