The Inland Revenue Board (IRB)

Prior to March 1996, known as the Department of Inland Revenue Malaysia which is under the Ministry of Finance currently. Besides that, it became a Statutory Board on the 1st of March, 1996. Generally speaking the Inland Revenue Board (IRB) is responsible for formulation of new tax policies for both the private and public sectors, tax collection, and compliance enforcement. Inland Revenue Board Malaysia (IRBM) was established in accordance with the Inland Revenue Board of Malaysia Act 1995 to give it more autonomy especially in financial and personnel management as well as to improve the quality and effectiveness of tax administration. The agency is responsible for the overall administration of direct taxes under the following Acts:

a. Income Tax Act 1967

b. Petroleum (Income Tax) Act 1967

c. Real Property Gains Tax Act 1967

d. Promotion of Investments Act 1986

e. Stamp Act 1949

f. Labuan Offshore Business Activity Tax Act 1990