PUTRAJAYA: The Inland Revenue Board (IRB) will refund overpaid taxes for the latest assessment year, regardless of the previous years’ assessments of unpaid taxes.

Chief Secretary to the Government Tan Sri Sidek Hassan said taxpayers, whether Individuals or Companies, wold be reimbursed if they had overpaid for the assessment year 2006 even if the status of previous years’ taxes has not been resolved.

Refunds for assessments before 2006 would be calculated separately, he said.

This move was decided at the second meeting of the the Special Task Force to Facilitate Business (Pemudah) yesterday.

The IRB will also continue with last year’s policy of returning excess tax payments  without the taxpayer having to make an application to get back the money.

Taxpayers who use the e-filing method could expect refunds within 30 working days, Sidek added.

Other initiatives that Pemudah put forward to improve the public delivery system and enhance the country’s competitiveness include expediting  the registration of new businesses from three days to one hour.

At present, Malaysia ranked 71 out of 175 countries in the field of business registration, according to the World Bank’s Doing Business 2006 Survey.

The enhance Malaysia’s performance in this field, the Companies Commission of Malaysia had, among other moves, shortened the business license removal process from 1 day to 15 minutes and registration of deeds and prospectuses from 14 days to three.

Prime Minister Datuk Seri Abdullah Ahmad Badawi had given Pemudah a 6 month deadline from January to show results and “make a difference”.