by Mitchell W.
People have been asking Najib where's the RM2.6 Billion from the 1MDB scandal and he is still yet to tell...and now he is going to be asking himself where is he gonna get another RM1.5 Billion EXTRA!
The former prime minister and the highlight of Malaysian scandal news was recently slapped with a "top-up" tax bill of RM1.5 Billion by The Inland Revenue Board (IRB) for 2011-2017, when they did some digging on Najib's declared income for those 7 years.
Technically, Najib hasn't been "tax evading"...just that he has been short-changing his taxes by not formally bringing to surface the EXACT amount of his income.
...and 7 years of short-changing has now amounted to RM1.5 Billion... Say it with me:
According to reports from IRB, Najib has failed to declare a taxable income totalling to RM4 Billion!
We also heard from some sources that this includes the infamous RM2.6 Billion from the 1MDB scandal.
If you don't remember, Najib claimed that the RM2.6 Billion was a "donation" from the government of Saudi Arabia, but I would assume that he didn't know the law stating that regardless if it is a donation or not, it is still subjected to income tax.
By not declaring it the first place, this is immediately suited as a crime.
Someone has gotta be fired for not telling Najib about the law...
“All incomes are taxable, whether legitimately earned or not. If the income is illegal proceeds, it is up to other agencies like the police or Malaysian Anti-Corruption Commission to investigate if a crime has been committed," says a tax expert.
"As far as IRB is concerned, it’s subject to income tax,” says one tax expert when asked if stolen money is subject to tax.
After months of delay, the trial for the first set of charges against Najib over SRC International Sdn Bhd will start on Wednesday.
So how is Najib gonna come up with RM1.5 Billion? We honestly do not know.
So be a Smart Malaysian...well wiser than Najib anyway, and do your taxes!
If you don't know When to do your Taxes, here you go.