KUALA LUMPUR, Nov 23 — The projected revenue from direct taxes of approximately RM139.3 billion in 2022 is a realistic, reasonable, as well as an achievable target, said Inland Revenue Board chief executive officer Datuk Mohd Nizom Sairi.
Mohd Nizom noted that the projected revenue from corporate income tax for 2022 is slightly more than the collection in 2019, before the Covid-19 pandemic began. “It was on a declining trend from 2020, which stood at 8.4 per cent, and it is estimated that the ratio will be at 7.9 per cent for 2022,” said Mohd Nizom.
“The direct and indirect taxes proportion based on OECD average is about 50-50 per cent. But in our case, it is about a 75-25 per cent ratio between direct and indirect taxes,” he said.
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