Najib served with bankruptcy notice over RM1.7b tax bill

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A bankruptcy notice has been issued to former prime minister Datuk Seri Najib Razak by the Inland Revenue Board (IRB) who visited his home yesterday.

Bernama

It was reported that the notice is over RM1.7 billion taxes that IRB is seeking from Najib.

“The case has been set for case management at the Kuala Lumpur court this May 5,” a source was quoted as saying.

In June 2019, the government, through IRB, filed a suit against Najib, where it sought over RM1.69 billion from the former premier, with an annual five percent interest rate beginning from the date of judgment, as well as cost and other relief deemed fit by the court.

In its statement of claim, the government said Najib had failed to pay his income taxes for 2011 to 2017 within the stipulated 30-day period after assessment notices were issued.

As such, the amount owed each year was increased by 10 percent.