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Friday, June 29, 2007

Something for the Income Tax Department to Ponder.

Here is a challenge for LHDN to take on.

They have invested billions of ringgit on IT and nowadays only promise "quick" refunds to those who submit returns online.

What about those files that are many years old? Some of them have not been refunded.
Perhaps they should learn from their Singapore friends how to process refunds within 30 days or pay interest.

That is only fair as the LHDN is quick to impose a 10% penalty if you do not pay up on time.

The following schedule would be fair:

Refund within 30 days - after which the bank lending rate applies for 2 months
After the third month, the 10% rule applies but this time the LHDN pays.

Maybe the post of LHDN chief should be open to all so that the person accepting the post will know what is the requirement for refunds.

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