Najib yet to settle income tax arrears of nearly RM1.7b

Former Prime Minister Datuk Seri Najib Razak has still not settled nearly RM1.7 billion in unpaid taxes.

(NST) – The Finance Ministry said the matter had not been definitively resolved, and the Inland Revenue Board (IRB) had taken the appropriate action.

“Proceedings are still ongoing, and the next hearing is scheduled for July 29, 2024 at the Insolvency High Court in Kuala Lumpur,” the ministry said in a Parliamentary written reply to RSN Rayer (Pakatan Harapan-Jelutong).

Rayer had asked the Finance Minister to state if Najib had cleared his income tax arrears of RM1.7 billion owed to the IRB.

On Oct 16, 2023, the Federal Court ruled that Najib must settle RM1.69 billion in unpaid taxes, after dismissing his appeal to quash the High Court’s decision against him.

The government, through the IRB, filed the suit against Najib on June 25, 2019, asking him to settle the unpaid tax with interest at five per cent a year from the date of judgement, as well as costs and other relief deemed fit by the court.

On July 2020, the High Court allowed the IRB’s application for a summary judgement to be entered against Najib in its suit to recover RM1.69 billion in taxes from the latter for the period between 2011 and 217.

Najib was ordered to pay the sum.