Zafrul: Customs Dept targets RM40b from taxes this year

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The Royal Malaysian Customs Department is targeting to collect RM40.7 billion in taxes this year, or higher than the RM38.6 billion collected in 2020.Finance Minister Tengku Zafrul Abdul Aziz (photo, above) is confident that the department could achieve the target even though the country still has to contend with the sting of the Covid-19 pandemic.“Gross domestic product (GDP) is projected to grow compared with last year’s, which contracted by about 5.6 percent; this year, the GDP is expected to increase by between 6.5 to 7.5 percent. This will be of some help in our revenue collection from the Customs department“Obviously, Covid-19 does affect the collection as it is related to the economy; so last year it did impact revenue from the Inland Revenue Board (IRB) and Customs Department,” he told reporters after opening the Kedah Customs Office building in Alor Setar, today.Earli…