The Ministry of Finance (MOF) is confident that the Inland Revenue Board (IRB) is able to meet its direct tax collection target of RM115b for 2016 despite the uncertain economic conditions, as the target takes into consideration the lower global oil prices and foreign exchange rates. The IRB Chief Executive Officer added that the tax collection was not as high as the previous year due to the implementation of GST and assured that tax collection will improve upon the stabilisation of GST and the economy.

Source: Malay Mail Online, 27 October 2016