CYBERJAYA, Nov 1 — The Inland Revenue Board (IRB) is expected to achieve its tax collection target of RM185.02 billion for 2023 considering that it had collected RM151.49 billion in taxes as at October 31 this year, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.

He said the tax collection target was achievable as various efforts and innovations have been implemented by IRB.

"I pray that in the remaining two months, the IRB will continue its optimum performance which will culminate in giving a significant effect as well as create a new history in the country’s revenue achievement,” he said in a press conference after officiating the IRB Innovation and Integrity Day 2023 here, today.

Last year, the IRB charted its best achievement in history with a tax collection of RM175 billion compared with RM140 billion in 2021.

Ahmad said creative and innovative ideas are always needed to ensure the level of efficiency, transparency and effectiveness of the IRB taxation system could be enhanced.

On the RM100 e-Tunai credit, Ahmad said Malaysian adults aged 21 and above earning RM100,000 and below annually will receive this initiative in December, which is estimated to involve 10 million recipients in the B40 and M40 groups with RM1 billion funding.

"This initiative is an example of (a situation) when we collect more tax, we can return it to the people...if we get more, we’ll give more,” he said.

Prime Minister Datuk Seri Anwar Ibrahim when launching the Madani Economy: Empowering the People framework on July 27, 2023, announced the RM100 e-Tunai credit assistance to Malaysians aged 21 and above, following the success and significant impact of the e-cash programme on the public. — Bernama