A concerned Malaysian writes about current affairs in Malaysia. If you like this site, please tell your relatives and friends. WE have the POWER TO CHANGE MALAYSIA. If you want to read earlier posts, please remove the "2" from this URL

Wednesday, October 18, 2006

Prompt Refunds Would Also Be Nice...

It is good to see the IRB developing systems to enable taxpayers to check their accounts online and also make payments via credit cards.

Perhaps one other area they should seriously look at is a prompt refund whenever payments are due back to the taxpayer.

Now the only thing a taxpayer gets is a statement recording how much is due back to the taxpayer with the proviso like:

“The following has not been taken into account after the date for which the statement period covers:

• Penalty for late payment

• Cancellation of penalty

• Taxation for the period

• Other taxes that have not been calculated “

We all know when the IRB makes a demand for payment they give you 30 days or there is a 10% penalty.

So I suggest to the IRB they should improve their system so that when a refund statement is made, all taxpayers will welcome the cheque that should accompany the letter.

Unless the IRB modifies their system so that so credit balances earn some interest like the lowest rate paid by banks for one month fixed deposits.


No comments: