Lim: Higher tax collection based on 2018 economic growth

KUALA LUMPUR: The increase in direct tax collection last year by the Inland Revenue Board (IRB) was based on the economic growth recorded in the year of assessment 2018, said Finance Minister Lim Guan Eng.

Referring to allegations that the encouraging tax collection was based on the 2017 economic performance and did not reflect the current economic state or the outcome of effective tax-related strategies by the Pakatan Harapan government, he said: “In fact, it is reflective of a resilient economy coupled with the effectiveness of a clean leadership and an administration based on the principles of competency, accountability and transparency.