KUALA LUMPUR: The projected revenue from direct taxes of about RM139.3bil in 2022 is a realistic, reasonable and an achievable target, says Inland Revenue Board (IRB) chief executive officer Datuk Mohd Nizom Sairi.

       According to a Bernama report, Mohd Nizom said the estimated revenue is projected from the gross collection of direct taxes as a whole, including corporate, petroleum, individual and other taxes, before payment of refund claims.

       “The target is along the lines of the projected 5.9% gross domestic product (GDP) growth as announced by the government,” he said at the 47th TaxMax webinar series.

       Mohd Nizom noted that the projected revenue from corporate income tax for 2022 is slightly more than the collection in 2019, before the Covid-19 pandemic began.

       “In terms of projected revenue that the government can expect from the economy next year, we looked at several factors, part of it is actually historical data that we have collected over a period of several years, and also looking at the outlook,” he said.