KUCHING, March 1: The Inland Revenue Board of Malaysia (IRBM) requires businesses to obtain a tax compliance certificate (TCC) as a prerequisite if they want to participate in government procurement effective January 1, 2023.
Prime Minister Dato Sri Ismail Sabri Yaakob said the government will include the implementation of TCC alongside tax identification number (TIN) to improve the efficiency and transparency of national revenue collection.
“Therefore, all traders who want to get a project with the Government must have a TCC as one of the main conditions starting next year,” he said in his speech text delivered by Finance Minister Tengku Zafrul Tengku Abdul Aziz during the launching of IRBM’s 26th HASiL Day held in Selangor today.
A TCC is issued to a person as proof that the person is compliant with the lodgments of tax returns and payment of taxes in accordance with relevant tax law.
Ismail Sabri further said he is optimistic that the IRBM will meet or exceed the tax collection target of RM139 billion for this year.
“The government projected that Gross Domestic Product (GDP) would grow by 5.5 to 6.5 per cent, in line with projections by the IMF (5.7 per cent) and the World Bank (5.8 per cent),” he added. — DayakDaily
