RM2.6 bil donation not taxable, insists Najib

(FMT) – Former prime minister Najib Razak today insisted that the RM2.6 billion political donation he received from Saudi Arabia is not taxable because of certain grey areas in accounting terms.

“On the basis of calculation, the definition of ‘income’ and ‘contribution’ is very much questionable.

“We think it is unjust. My tax people are working on it. We will seek a remedy,” he told reporters at the Dewan Rakyat lobby.

Najib did not give details of his tax bill, which The Edge Markets reported yesterday amounted to RM1.5 billion.

The report said Najib received the tax bill a week ago and the undeclared taxable income was from 2011 to 2017 when he was given over RM4 billion, inclusive of the RM2.6 billion donation from Saudi Arabia.

In a Facebook post yesterday, Najib claimed income received from outside the country is not subject to tax under existing tax laws.