New Records in Tax Collection
At the National Tax Conference today, I emphasised that the fundamentals of our economy remain strong.
We recorded growth of 4.9% in the second quarter of 2015. We have also diversified our economy, making our financial sector stronger.
Our economy also continues to record trade and current account surpluses. The country’s labour market conditions are stable, with unemployment at 3.1 per cent as of May 2015, and inflation remains low.
Malaysia’ financial system resilience remains intact and the domestic financial markets continue to function in an orderly manner while financial intermediation activities continue to function efficiently to support the financial and financing needs of the domestic economy.
LHDN has set new records in terms of tax collection over the last 4 years: from RM110 billion in 2011, to RM125 billion in 2012, RM129 billion in 2013, and RM134 billion in 2014.
For the period of the Eleventh Malaysia Plan, LHDN will succeed in collecting a total target of RM871 billion. I need all of you to be steadfast in your task so that we reach that target.