IRB sends Najib RM1.5 billion tax bill, says report

Updated 7 years ago · Published on 1 Apr 2019 9:52AM · 4 Comments

Former prime minister Najib Razak is billed RM1.5 billion over his failure to declare RM4 billion in taxable income. – The Malaysian Insight file pic, April 1, 2019.

THE Inland Revenue Board (IRB) has slapped former prime minister Najib Razak with a bill for RM1.5 billion over his failure to declare RM4 billion in income. The taxable sum includes the RM2.6 billion discovered in his bank account in 2013, The Edge Financial Daily reports.

Quoting sources, the report said the tax bill is for the period 2011-2017 and it was sent to Najib about two weeks ago.

Najib’s undeclared income during the period includes a RM2.6 billion stash that has been linked to 1MDB but which Najib claims was a donation from the Saudi government.

Tax experts quoted in the report said donations are subject to income tax and that failure to declare one’s income, whether it is donated or stolen, is an offence.

As far as the IRB is concerned, income earned legitimately and illegitimately is taxable, they said.

If the income is from illegal proceeds, however, it will be subject to investigation by the authorities to determine if a crime has been committed. – April 1, 2019.

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Comments

  • Nice one haha

    Posted 7 years ago by Muzamil Hanafiah · Reply

  • April Fool ?!

    Posted 7 years ago by [email protected] · Reply

  • Finally! A tax related charge. A surefire way of pinning the boss down!

    Posted 7 years ago by C D · Reply

  • Bossku allegedly has RM100b stashed away overseas so 1.5b is unlikely to make a dent. This is going to be a dilemma though because he needs to prove his income is legitimate and tax free.

    Posted 7 years ago by Roger 5201 · Reply