KUALA LUMPUR, Jan 30 (Bernama) -- Taxpayers who have received letters or e-mails from the Inland Revenue Board of Malaysia (IRBM) on the Special Voluntary Disclosure Programme (SVDP) have nothing to worry about, instead they should contact IRBM for further explanation. 

Around 8.3 million letters and e-mails have been issued by IRBM to registered taxpayers informing on the SVDP which started on 03 November 2018 and will end on 30 June 2019 as announced by Yang Berhormat Tuan Lim Guan Eng, Finance Minister of Malaysia during the tabling of the 2019 Budget.

Through this programme, the following category of taxpayers are offered low penalty rates of 10% and 15% on the additional tax raised:

i. Registered taxpayer who failed to submit the Income Tax Return Form (ITRF)/Petroleum Return Form (PRF)/Real Property Gains Tax Return Form (RPGTRF) in an orderly manner;

ii. Taxpayers who have submitted the ITRF/PRF/RPGTRF but did not declare the right income declaration (under-declared income) or claim the right expenses and tax reliefs (over-claimed deductions);

iii. Duty payers who failed to execute instruments in the stipulated time.

Taxpayers who have declared income, expenses and tax reliefs in an orderly manner to IRBM and have executed instruments in the stipulated time may ignore the letters and e-mails received.

Any voluntary declaration made during the programme will be accepted in good faith without further queries by IRBM.

IRBM would also like to advise taxpayers to be vigilant of fraudulent syndicates taking advantage through the implementation of this programme. Taxpayers may seek verification and further information regarding this programme through the following mode:

i. Visiting the nearest IRBM office;
ii. Contacting Hasil Care Line at 1-800-88-5436 or 603-7713 666 (Overseas); or
iii. Emailing queries to:
pengakuansukarela@hasil.gov.my
 
Besides Malaysia, programmes akin to the SVDP have been implemented in over 20 countries such as the United States of America, Australia, Canada, Germany, South Africa and Indonesia and acts as an opportunity for the people to make voluntary declaration, as initiated by the Organisation for Economic Co-operation and Development (OECD) through the exchange of information initiative under the Country-by-Country Reporting, which started in September 2018 for Malaysia.
 
Happy Chinese New Year
IRBM would like to take this opportunity to wish a Happy Chinese New Year to Malaysians celebrating the festival. May this new year bring more joy and prosperity to all.

Thank you.

Dato’ Sri Sabin bin Samitah
Chief Executive Officer
Inland Revenue Board of Malaysia

Source: Inland Revenue Board of Malaysia

FOR MORE INFORMATION, PLEASE CONTACT:
Communications Division | Chief Executive Officer Office
Inland Revenue Board of Malaysia
Tel: 03-8313 8888 ext. 21658 / 21674   
Fax: 03-8313 7801
Hasil Care Line: 1-800-88-5436 (LHDN)
Official Portal: www.hasil.gov.my 

--BERNAMA