IRB Settles RM14.55 Bln Tax Refunds, Involving 3.47 Mln cases - Lim
KUALA LUMPUR, Dec 15 (Bernama) -- The Inland Revenue Board (IRB) has completed tax refund payments amounting to RM14.55 billion involving 3.47 million cases as of Nov 30, said Deputy Finance Minister Lim Hui Ying.
She said the amount represents a 17.5 per cent increase compared with RM12.39 billion in tax refunds involving 2.71 million cases recorded last year.
“Of the 3.47 million cases refunded this year, 3.34 million cases have been fully settled, with total refunds amounting to RM13.32 billion.
“To strengthen tax refund management, the IRB has formulated strategies to ensure government-allocated refund provisions are distributed in an orderly manner, with priority given to refund cases based on the age of arrears,” she said when winding up the debate on the Finance Bill 2025 at the Dewan Negara today.
According to Lim, the IRB’s strategies include paying tax refunds first and conducting audits later, as well as prioritising older refund arrears.
At the same time, the IRB also settled refund arrears in full for individual taxpayers, and considered prioritising micro, small and medium enterprises (MSMEs) and companies facing cash flow constraints.
Meanwhile, the Dewan Negara passed the Finance Bill 2025, which includes amendments to five tax-related acts — the Income Tax Act 1967, the Real Property Gains Tax Act 1976, the Stamp Act 1949, the Labuan Business Activity Tax Act 1990 and the Petroleum (Income Tax) Act 1967.
The bill was passed by a majority vote after being debated by 11 senators. The Dewan Negara sitting resumes tomorrow.
-- BERNAMA