According to a report in the Malaysian Daily Express, several large firms based in Labuan are said to have received unannounced visits from Inland Revenue Board Officials who wished to check the accuracy of tax return details.
Exactly which firms were targeted by the operation is unknown, though one unidentified businessman told the Mail: “We were taken by surprise but they were polite and stated that they merely wanted to check some records.” It is thought that the Revenue representatives were interested in such documents as invoices and sales records, and some files were removed from premises for closer examination, says the Mail report.
In a press briefing given last year, the Director-General of the IRB Datuk Zainol Abidin Abu Rashid stated that tax collections from the Labuan district were RM24.7 million in the first five months of last year, up from RM17.3 million in the corresponding period in 2001. Overall, the Director-General expected record revenues for 2002 at RM48 billion.
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment