Malaysian Gov’t seeks additional 411 million USD in taxes from Najib
The Malaysian Government is seeking nearly 1.7 billion RM (411 million USD) in additional tax assessments from former Prime Minister Najib Razak in the 2011-2017 period.
Malaysia's former Prime Minister Najib Razak (Source: thestar)
KualaLumpur (VNA) - The Malaysian Government isseeking nearly 1.7 billion RM (411 million USD) in additional tax assessmentsfrom former Prime Minister Najib Razak in the 2011-2017 period.
Local media on July 5 said that the Malaysian Government, through the InlandRevenue Board (IRB), filed the lawsuit against Najib as the sole defendant atthe High Court registry on June 25.
IRB had sent an additional tax assessment notice via registered post to thedefendant's house address in March but the notice went unanswered.
According to the notice, Najib must pay a total of 1.47 billion RM for the seven years within 30 days from the date ofthe assessment notice. However, Najib's failure to pay on schedule resultedin the first 10 percent increase, which is in accordance with the Income TaxAct 1967.
As Najib still failed to settle the renewed sum within 60 days under the sameAct, a compounded 5 percent hike was added to the sum, the plaintiff said.
It added that until July 5, the defendant is yet to pay the amount owed.
Bylaw, every year Najib will have to pay an additional 5 percent of the aboveamount. The High Court of Kuala Lumpur has set July 8 as the date ofcompletion of the case for Najib.-VNA
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Malaysia's former Prime Minister Najib Razak (Source: thestar) 
