In a report by The Edge Markets, the Inland Revenue Board (LHDN) has billed former prime minister and current Pekan MP, Najib Tun Razak, an extra tax bill amounting to a whopping RM1.5 billion for the years 2011 to 2017.
Sources revealed to the daily that this bill was issued about a week ago and the amount stated in the bill is on top of what Najib Tun Razak already paid based on his declared income for the past 7 years.
LHDN reportedly found that the former prime minister did not declare nearly RM4 billion worth of taxable income over the past 7 years and according to sources, this amount includes the RM2.6 billion believed to be from 1Malaysia Development Berhad (1MDB).
While Najib insisted that the RM2.6 billion was a donation from the Saudi Arabian government, tax experts have pointed out that donations are still subject to income tax and that Najib would have already committed an offence for not declaring it as income. A tax expert told the daily,
“All incomes are taxable, whether legitimately earned or not. If the income is illegal proceeds, it is up to other agencies like the police or Malaysian Anti-Corruption Commission to investigate if a crime has been committed.”
“As far as IRB/LHDN is concerned, it’s subject to income tax.”
Meanwhile, the Pekan MP is set to begin his trial involving SRC International Sdn Bhd (a former subsidiary of 1MDB that allegedly channeled RM42 million into Najib’s account), which is set to begin this Wednesday (3rd April).
With the trial fast approaching, Najib recently stated that he approved of his trial being broadcast live for the public to know the truth. A petition was even created in support of this idea. However, politicians and members of the legal community have rejected this idea as it could compromise the integrity of this trial. Deputy Prime Minister Wan Azizah Wan Ismail also stated that this trial should not be turned into a circus and was quoted by the New Straits Times as saying,
“We understand the people want to know the process of the trial, but we don’t want to make it as a circus…let the law take its course. Whatever the decision, whether he (Najib) is guilty or not, it is for the court to decide.”
Stay tuned for more updates on this developing story and Najib’s upcoming trial.
Here’s Everything You Need to Know About PM’s PEMERKASA Announcement
Earlier this evening, Prime Minister Muhyiddin Yassin held a press conference to announce the new special aid package, named ‘PEMERKASA’....
PEMERKASA: Govt To Increase Allowance Limit For OKU Workers From RM1,200 To RM1,500
In today’s live broadcast by Prime Minister, Tan Sri Muhyiddin Yassin, he announced that the government has agreed to increase...
PEMERKASA: Local SMEs To Receive RM1,000 Monetary Aid To Resume Operations
In today’s live broadcast by the Prime Minister, Tan Sri Muhyiddin Yassin, he announced monetary aid to help small and medium...
PEMERKASA: RM500 One-off Aid For B40 Individuals Who Lost Their Income
In today’s live broadcast by the prime minister, Tan Sri Muhyiddin Yassin, he announced a monetary initiative to help those who...
Popular Massage Parlour in Subang Jaya Raided By Police Officers During Ops Noda
On 13 March, a team of police from Subang Jaya’s D7 BSJD Branch has carried out a raid on a...
Lazada Turns 9 & They’re Launching The New ‘Lazada Bonus’ Feature Plus a Line-up of Surprises This March!
Having served the Malaysian online shopping community since 2012, Lazada celebrates its 9th anniversary this year with a new ‘Lazada...
Here’s How M’sians Can Show Their Skin Some Love & Achieve Their Skincare Goals By CNY
According to facial Feng Shui beliefs, clear and smooth skin is reflective of good intentions and smooth sailing for the...
MCO: Here’s How These M’sians Managed To Thrive & Sell 6,000-8,000kg of Produce a Month Thanks To Lazada
Just a few days ago, it was announced that the MCO will be reinstated and enforced on all states except...