Special Programme for Voluntary Disclosure (Deadline: 30 September 2019)

July 30, 2019

 

The Inland Revenue Board (IRB) has received 486,360 cases of voluntarily tax declaration under the SPVD programme.

 

The deadline for this programme is ending on 30 September 2019. To avoid future scrutiny, taxpayers are urged to take this opportunity to declare under their unreported taxes. Under the programme, the penalty rate is 15% before the deadline of 30 September. After that, the penalty rate would revert to 45%-300%.

 

Background:  SPVD is a tax amnesty programme that allows taxpayers to voluntarily disclose their unreported income and be entitled to low discounted penalty rates. 

 

To find out more:

 

https://www.stanleyco.com.my/single-post/2019/04/10/Special-Programme-for-Voluntary-Disclosure-Updates-Deadline-extended-to-30-June-2019

 

https://www.stanleyco.com.my/single-post/2018/11/21/Voluntary-Disclosure-of-Under-Declared-Tax

 

 

Let’s talk:  Our management team Licensed Tax Agents and Chartered Accountants, please contact us if you need with the topic above.

 

 

 

                                                                   Every effort has been made to provide accurate information.

                                                                   However, the information and regulations contained in this

                                                                       article are subject to changes and amendments by the

                                                                       relevant authority at any time. As such, the information

                                                                                       in this article may not be current.

 

                                                                      And the information provided in this article is general

                                                                   commentary only and shall not be considered as advice

                                                                     or recommendation. As all tax situations are specific to

                                                                   their facts and will differ from the situations in this article -

                                                                    if you have specific tax questions you should consult a

                                                                                                    licensed tax agent.

 

 

 

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