KUALA LUMPUR: The Inland Revenue Board (IRB) has announced a 100pct increase in penalty on those who failed to pay their taxes or has submitted inaccurate tax report.
Its chief executive officer Datuk Sabin Samitah said the penalty will take effect next year.
He said in the past, defaulters were only slapped with a 45 per cent penalty.
"The move to increase the penalty will not involve any new amendments of the law because it is already under the Income Tax Act 1967.
"This decision was not taken drastically as we have already been given defaulters two years to settle their arrears," he said after launch of G127B operation here today.