Malaysian Gov’t seeks additional 411 million USD in taxes from Najib

Malaysia's former Prime Minister Najib Razak (Source: thestar)

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.

Local media on July 5 said that the Malaysian Government, through the Inland Revenue Board (IRB), filed the lawsuit against Najib as the sole defendant at the High Court registry on June 25.

IRB had sent an additional tax assessment notice via registered post to the defendant'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 of the assessment notice. However, Najib's failure to pay on schedule resulted in the first 10 percent increase, which is in accordance with the Income Tax Act 1967.

As Najib still failed to settle the renewed sum within 60 days under the same Act, 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.

By law, every year Najib will have to pay an additional 5 percent of the above amount. The High Court of Kuala Lumpur has set July 8 as the date of completion of the case for Najib.

VNA