Give tycoons, political figures second chance to repatriate wealth: Suhaili
Published on: Thursday, January 25, 2024
By: FMT
Labuan MP Suhaili Abdul Rahman suggests a temporary amnesty for a period of six months and tax exemption throughout the duration that such wealth is returned from abroad. (Bernama pic)
PETALING JAYA: Labuan MP Suhaili Abdul Rahman has urged the government to consider offering tycoons or political figures a “second chance” to bring back their wealth currently held overseas.
In a Sinar Harian report, Suhaili said a temporary amnesty for the wealthy will inject billions of ringgit into the domestic economy.
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Without naming specific individuals, he said over 20 business magnates and political figures have more than RM1 trillion of assets abroad.
He said a temporary amnesty period of six months, and tax exemption throughout the duration that such wealth is returned from abroad, would benefit the economy.
“Such a measure would help strengthen the country’s economy and will be seen as a ‘win-win’ solution between the government and these tycoons. This, I believe, is better and more beneficial to the national economy than taking legal action strictly by the book.
“At least it reduces the perception that the government is engaging in ‘politically motivated revenge’ against this group.”
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“In resolving the issue of our people’s failure to declare their assets, if the government wants the money back, shouldn’t they facilitate the process?” he asked.
Suhaili was commenting on the Malaysian Anti-Corruption Commission (MACC) launching investigations into several tycoons and political figures, including former finance minister Daim Zainuddin and former prime minister Dr Mahathir Mohamad’s son, Mirzan.
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On Tuesday, Daim’s wife Naimah Khalid pleaded not guilty to a charge of failing to comply with an MACC notice requiring the declaration of assets.
She was accused of failing to declare her ownership of companies, several plots of land in Kuala Lumpur and in Penang, as well as two vehicles. The offence allegedly took place on Dec 13, 2023.
MACC chief Azam Baki also said that the anti-graft agency had received the green light from the attorney-general’s chambers to bring Daim to court last week, although he did not specify the nature of the charges in question.
Last week, MACC confirmed that it had summoned Mirzan to its headquarters in Putrajaya to be served a notice of asset declaration.
“This asset declaration notice is a continuation of MACC’s investigation into information from the Panama Papers report and his (Mirzan’s) business activities involving the sale and purchase of government-linked companies,” MACC said.
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