Tax amnesty pro­gramme aims to re­duce peo­ple’s bur­den, says IRB

The Borneo Post - - HOME -

KUALA LUMPUR: The Spe­cial Vol­un­tary Dis­clo­sure Pro­gramme ( SVDP) is a clear in­di­ca­tion of the gov­ern­ment’s de­sire to re­duce the bur­den of the peo­ple through tax­a­tion, In­land Rev­enue Board ( IRB) chief ex­ec­u­tive of­fi­cer Datuk Seri Sabin Sami­tah said.

The pro­gramme, an­nounced by the gov­ern­ment last Novem­ber, of­fers an av­enue for tax­pay­ers to come for­ward and vol­un­tar­ily de­clare any un­re­ported in­come or over­claimed ex­penses for Malaysian tax pur­poses.

“It is the de­sire of the gov­ern­ment to en­cour­age and in­stil the cul­ture of vol­un­tary tax com­pli­ance, and this of­fer to start on a clean slate on tax mat­ters is the right move to­wards achiev­ing that,” he said in his speech dur­ing a KPMG di­a­logue ses­sion with the IRB here yes­ter­day.

Un­der the SVDP, for dis­clo­sures of un­re­ported in­come made from Nov 3, 2018, to March 31, 2019, the penalty will be 10 per cent of the tax payable.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.