Roughly a quarter of income tax revenue in past decade came from individuals, IRB data shows

KUALA LUMPUR, Sept 20 — For the past decade, individual taxpayers have emerged as the unsung heroes of Malaysia’s fiscal landscape by contributing roughly 25 per cent of all income tax revenue.data.gov.my

However, the pinnacle of individual contributions — since data was first made available in 1970 — was in 2020, when the nation’s taxpayers collectively paid RM39 billion.The proportion followed a rising trend since 2011, which however dipped in 2021 when individuals contributed to just 20.8 per cent of total income tax revenue.

On the flip side, 1,472,038 individuals were spared the taxman’s call last year due to their income falling below the taxable threshold.While individuals have been diligent in their tax contributions, the corporate sector continued to contribute to the bulk of income tax revenue. In fact, 2022 marked a historic year for Malaysia’s fiscal health, with the government collecting a record-breaking RM153.5 billion in total taxes. The last time such a figure was achieved was in 2019, with RM134.7 billion.

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