Datuk Seri Najib Razak has been taxed RM 1.5 billion for the stretch between 2011 to 2017 by the Inland Revenue Board (IRB).
According to a report by The Edge Markets, the amount is an addition to what Najib has paid based on his income declarations over the 7 stipulated years. The ex-Prime Minister of Malaysia was sent a letter about a week ago with regard to the additional tax.
IRB conducted an investigation which revealed that Datuk Seri Najib Razak, who is currently facing a barrage of charges relating to the infamous 1Malaysia Development Bhd (1MDB) mega-scandal, had not declared taxable income amounting to approximately RM 4 billion for the 7 years.
This figure includes the widely-known RM 2.6 billion which was in Najib’s possession and personal control. The Malaysian and US investigators claimed that this figure could be traced back to the funds belonging to 1MDB.
Time and again, Najib has reiterated that the money which was found in his personal bank account was actually a donation from the government of Saudi Arabia.
The Edge Markets also reported that tax experts say that donations are also subject to income tax. This consequently mean that Najib has already committed an offence by not declaring the so-called donation.
“All incomes are taxable, whether legitimately earned or not,” says one tax expert when asked if stolen money is subject to tax, the report stated.
Datuk Seri Najib Razak’s trial for the first set of charges against him over SRC International will commence on Wednesday (April 3), after months of delay due to various reasons. The latest postponement was triggered by an injury on Najib’s lawyer’s hand. Tan Sri Muhammad Shafee Abdullah told the panel of the Court of Appeal that his playful pet dog jumped on him, thus causing his wrist to swell.