KUALA LUMPUR (Sept 5) : The Malaysian International Chamber of Commerce and Industry (MICCI) has called for the establishment of a special multi-agency task force to curb illicit trade in the country, particulary in alcohol and tobacco products.
Its president Datuk Tan Cheng Kiat said the chamber estimates the loss in tax revenue to the government from the illegal trade at around RM8 billion per year.
Thus, it believes that the establishment of the task force would help to recoup RM3 to RM4 billion in tax revenue by 2020.
"It is undeniable that Malaysia is facing a serious smuggling situation that threatens the economic sovereignty of the country. The black market is booming and there is an urgent need to plug such leakage in government revenue," he told a press conference today.
Tan said the task force should comprise representatives from the Royal Malaysian Customs Department, the ministries of finance, domestic trade and consumer affair and health, the police, the Malaysia Maritime Enforcement Agency and other relevant authorities.