Minister: Taxes paid by country’s billionaires can’t be revealed

(The Star) – Personal taxes paid by the country’s top 20 billionaires cannot be revealed under the law, said Deputy Finance Minister Datuk Ahmad Maslan (pic).

“The taxes paid by an individual is confidential and cannot be revealed under privacy laws via Section 138 of the Income Tax Act 1967.”

“As such, I am not able to reveal the taxes paid by the nation’s 20 richest,” he said when winding up debates on the Inland Revenue Board of Malaysia (Amendment) Bill 2014 in the Dewan Rakyat, Tuesday.

However, he assured lawmakers that qualified individuals are subject to annual personal taxes.

“The IRB will assess how much taxes have to be paid and no one is exempt as the board shows no favouritism,” he added.

Asked by Sim Tze Tzin (PKR-Bayan Baru) for the total amount of taxes paid by the 20, Ahmad said that he did not have the figure offhand and could only provide it if the law permitted.

Ahmad was replying to Opposition Leader Datuk Seri Anwar Ibrahim’s claims that the nation’s richest are provided concessions by the IRB.