Tax Dodgers To Pay 100% Penalty From Next Year

Tax Dodgers To Pay 100% Penalty From Next Year

Malaysians will have to pay a 100% on their taxes if they are found dodging payment or filing incorrect income tax returns.

The Inland Revenue Board said it would impose the maximum penalty compared with the 45% penalty currently imposed on offenders.

So if an individual commits a RM1 million tax evasion, they should pay a RM1 million penalty. The 100% penalty can be imposed under the Income Tax Act 1967, an IRB official was quoted as saying by national newswire Bernama.

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The board hoped that the higher penalty would bring awareness to individuals and companies about their responsibility to pay income tax.

[Source]

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