The Inland Revenue Board of Malaysia (IRBM) is one of the main revenue collecting agencies of the Ministry of Finance. IRBM was established in accordance with the Inland Revenue Board of Malaysia Act 1995 to give it more autonomy especially in financial and personnel management as well as to improve the quality and effectiveness of tax administration. The Department of Inland Revenue Malaysia became a board on March 1, 1996, and is now formally known as IRBM. The agency is responsible for the overall administration of direct taxes under the following Acts : • Income Tax Act 1967 • Petroleum (Income Tax) Act 1967 • Real Property Gains Tax Act 1976 • Promotion of Investments Act 1986 • Stamp Act 1949 • Labuan Business Activity Tax Act 1990