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Tuesday, October 7, 2014

Tax board gives tycoons favoured treatment

Anwar tells Inland Revenue Board to go after the super rich.
Anwar Ibrahim_LHDNKUALA LUMPUR: Opposition leader Anwar Ibrahim has alleged that the Inland Revenue Board (IRB) gives preferential treatment to some of the country’s billionaires when collecting taxes from them.
He told Parliament today that he had received reports about pressure being applied on IRB to allow “easy payment schemes” for the super rich or to delay collection from them or even to excuse them from paying.
He said he would not complain about the easy payments if the same leeway were given to all taxpayers.
Speaking during the debate on the IRB (Amendment) Bill, Anwar also demanded that the goverment reveal the amount in taxes it had collected from 20 billionaires who, according to him, had increased their wealth over years.
He named six people of the 20. They are Mokhzani Mahathir, Robert Kuok, T. Ananda Krishnan, Syed Mokhtar Al-Bukhary, Teh Hong Piow and Quek Leng Chan.
“I am not questioning the increase in their wealth, but asking whether IRB is brave enough to go after them,” he said.
It was not clear whether Anwar was speaking from his experience as Finance Minister in the 1990s, but he said some rich people used to get support from a minister in pressuring IRB not to collect taxes from them or to allow them to pay by instalments.
Anwar supported the amendment to give more autonomy to IRB and suggested that it acquire the technical expertise to track the wealthy who evade taxes by taking their profits out of the country.

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