The Inland Revenue Board has paid RM14.55 billion in tax refunds, a 17.5% increase from last year, with strategies to prioritise older arrears.
KUALA LUMPUR: The Inland Revenue Board (IRB) has completed tax refund payments totalling RM14.55 billion involving 3.47 million cases as of November 30.
Deputy Finance Minister Lim Hui Ying said the amount represents a 17.5% increase compared to the RM12.39 billion in 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,” she said.
She was speaking when winding up the debate on the Finance Bill 2025 at the Dewan Negara.
Lim stated the IRB has formulated strategies to strengthen tax refund management.
These strategies ensure government-allocated refund provisions are distributed in an orderly manner.
Priority is given to refund cases based on the age of the arrears.
The IRB’s approach includes paying tax refunds first and conducting audits later.
It also involves prioritising older refund arrears.
The board settled refund arrears in full for individual taxpayers.
It also considered prioritising micro, small and medium enterprises (MSMEs) and companies facing cash flow constraints.
Meanwhile, the Dewan Negara passed the Finance Bill 2025.
The bill includes amendments to five tax-related acts.
These are 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
