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Taskforce To Address Illicit Outflows Shows Signs Of Success – Najib

By Wednesday December 21st, 2011 No Comments

KUALA LUMPUR, Dec 21 (Bernama) — The special taskforce to address illicit outflows has shown early signs of success, Prime Minister Datuk Seri Najib Tun Razak said today.

He said incidents of tax evasion for instance had been substantially reduced.

“We expect our (tax) revenue this year to be RM22 billion more than last year (RM86.475 billion) and RM7 billion more than the forecast for this year (RM91 billion),” he said.

He was commenting on a recent report by US-based Global Financial Integrity that Malaysia lost RM150 billion in illicit outflows in 2009.

Najib who is Finance Minister said the government was working to address illicit outflows with a special taskforce that involves various agencies including Bank Negara Malaysia (BNM) and the Inland Revenue Board (LHDN).

The measures undertaken by the government were working and more steps would be pursued to address the leakages, he said.

Asked whether illicit outflows would affect the economy, Najib said: “No.”

“As you know, there is robust growth in the domestic economy. If it has negative impact, then we would not be able to achieve five per cent and you know we have strong domestic demand in this country.”

Source : Bernama

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