ID :
51325
Thu, 03/19/2009 - 12:41
Auther :
Shortlink :
http://m.oananews.org//node/51325
The shortlink copeid
GOVERNMENT HAS NO PLAN TO REDUCE CORPORATE OR INDIVIDUAL TAX
PUTRAJAYA, March 19 (Bernama) -- The government does not intend to reduce further the corporate and individual tax for the moment as tax exemption of up to RM1.5 billion (US$417.09 million) had been given under the mini budget tabled recently.
The Deputy Prime Minister Najib Razak said this was to spur
economic activities and the government needs to collect tax to sustain
expenditure for salaries, pension and at the end of the year, the bonus awaited
by civil servants.
"We need the cash flow, the government's cash flow also needs to be looked
into too,when we give a tax exemption.
"Everytime we have a budget,, we provide for a tax exemption. So, we have to
take a realistic attitude," he told reporters after launching the Inland revenue
Board's (IRB) electronic services campaign at the Ministry of Finance here
Thursday.
He said this when asked to comment on whether the government planned to
reduce further the tax rate following the not too encouraging, current economic
conditions.
Najib said the tax exemption of up to RM1.5 billion is mainly for companies
while for the people, RM27 billion had been allocated in the form of subsidies
and RM830 million as a social safety net.
"For the people, there is much that has been allocated.
"So, under the mini budget, we have focused on creating economic activities,
ensuring credit flow and also unemployment to be at the lowest possible level,"
he said.
Meanwhile, Najib in his speech said the IRB's tax revenue collection for
last year saw a new record of RM90.792 billion, which was needed to administer
and develop the country for good of the people.
In this respect, he said efforts to increase government revenue cannot be
overlooked and as the government did not want at the same time to burden the
people, the tax was reduced from time to time.
"In fact, in Malaysia, only just more than 10% of those working pay income
tax.This is something a lot of people do not realise, when exemption after
exemption has been given," he said.
At the same time, Najib hoped that the people will use the IRB e-services,
which is a convenience offered to the people to undertake tax matters online.
He also gave an assurance that the information presented in relation to
personal tax matters was safe and inaccessible to others.
"I would also urge that the service be expanded as it makes it easier for
the taxpayer, and for the government, the payment of taxes according to
schedule," he said. (US$1=RM3.59)
-- BERNAMA
The Deputy Prime Minister Najib Razak said this was to spur
economic activities and the government needs to collect tax to sustain
expenditure for salaries, pension and at the end of the year, the bonus awaited
by civil servants.
"We need the cash flow, the government's cash flow also needs to be looked
into too,when we give a tax exemption.
"Everytime we have a budget,, we provide for a tax exemption. So, we have to
take a realistic attitude," he told reporters after launching the Inland revenue
Board's (IRB) electronic services campaign at the Ministry of Finance here
Thursday.
He said this when asked to comment on whether the government planned to
reduce further the tax rate following the not too encouraging, current economic
conditions.
Najib said the tax exemption of up to RM1.5 billion is mainly for companies
while for the people, RM27 billion had been allocated in the form of subsidies
and RM830 million as a social safety net.
"For the people, there is much that has been allocated.
"So, under the mini budget, we have focused on creating economic activities,
ensuring credit flow and also unemployment to be at the lowest possible level,"
he said.
Meanwhile, Najib in his speech said the IRB's tax revenue collection for
last year saw a new record of RM90.792 billion, which was needed to administer
and develop the country for good of the people.
In this respect, he said efforts to increase government revenue cannot be
overlooked and as the government did not want at the same time to burden the
people, the tax was reduced from time to time.
"In fact, in Malaysia, only just more than 10% of those working pay income
tax.This is something a lot of people do not realise, when exemption after
exemption has been given," he said.
At the same time, Najib hoped that the people will use the IRB e-services,
which is a convenience offered to the people to undertake tax matters online.
He also gave an assurance that the information presented in relation to
personal tax matters was safe and inaccessible to others.
"I would also urge that the service be expanded as it makes it easier for
the taxpayer, and for the government, the payment of taxes according to
schedule," he said. (US$1=RM3.59)
-- BERNAMA
