IRBM continues drive to counter tax leakages

KUALA LUMPUR: The Inland Revenue Board of Malaysia (IRBM) yesterday said it will continue with the drive to counter the threat of aggressive tax planning, base erosion and profit shifting, and tax evasion practices that cause tax leakages.

IRBM chief executive officer Datuk Seri Sabin Samitah said the effort to curb tax leakages would require enhanced cooperation between various local agencies especially for information sharing on a timely basis.

The board’s compliance approach was to make compliance easy and non-compliance difficult, he said.

“It is our intention to preserve a tax system that is fair and equitable to law-abiding and responsible taxpayers, and at the same time, ensure that appropriate and necessary actions are taken against those who willfully evade and avoid paying taxes,” he was quoted in a statement issued at the Malaysian Tax Conference 2018 by the organiser, the Malaysian Institute of Accountants (MIA).

MIA President Salihin Abang, meanwhile, emphasised the importance of the tax conference in terms of capacity building and compliance.

“Through this tax conference, we intend to build the capacity and capabilities of tax accountants and tax practitioners, hence developing the profession and our members,” he added.

The two-day conference starting here today was jointly organised with the Malaysian Association of Tax Accountants. — Bernama