DG (Director-General) of IRB (Inland Revenue Board) has truly lived up to his promise!
In the earlier part of the year, DG undertook to pay back refunds to those tax payers who opted to submit their returns on-line within one month after receipt.
Honestly, I couldn't help to be sceptical. In the past ten years, IRB had been marred with excessive delay in repayments to tax payers, with some cases overdue for as long as five years. It was all thumbs down when refund woes were shared among the tax payers.
It was therefore a surprise when I received my cheque from IRB at the start of this month. This was perhaps the first time I received such an early refund! A big hurray to DG for doing a good job.
With the switch of our tax to one-tier system this year, refunds on dividend tax would go into history with effect from 2009.