Giving IRB bank account info will promote tax compliance - Deloitte

Deloitte Malaysia views that the proposed amendments for power to be granted to the Inland Revenue Board (IRB) to call for bank account information was intended to promote tax compliance and provide the ability to recover tax debts due to the government.

Tax audit and investigation executive director Mohd Fariz Mohd Faruk said it is important for Malaysian taxpayers to understand this new power granted to the IRB under Section 106A so they are not misguided.

“The power to call for bank account information must be...