The Inland Revenue Board has processed RM17 billion in tax refunds this year, including an extra RM2 billion allocation to clear backlogs.
CYBERJAYA: The Inland Revenue Board (IRB) has processed RM17 billion in tax refunds covering 3.53 million cases so far this year.
The refunds processed between January 1 and December 18 include an additional RM2 billion allocation recently announced by the government.
A further RM2 billion from the extra allocation will be processed and disbursed before the end of December.
The first RM1 billion of the additional funds cleared refund backlogs exceeding three years.
The subsequent RM1 billion was processed for taxpayers with refunds aged two years or more, with priority given to small and medium enterprises.
Prime Minister Datuk Seri Anwar Ibrahim said on December 7 the government had increased the tax refund allocation from RM2 billion to RM4 billion.
The IRB advised taxpayers to ensure their bank account details are accurate and current to facilitate processing.
Some refunds could not be processed due to incorrect or missing bank account information.
Refunds also cannot be processed if a case is under legal dispute or a company has been liquidated.
The IRB confirmed it will continue to disburse refunds systematically, prioritising large amounts and SMEs.
