KUALA LUMPUR – A total of 13,000 taxpayers, consisting of individuals and corporations, have come forward under the Special Voluntary Disclosure Programme (SVDP) to pay and clear outstanding taxes involving a collection of RM100 million.
Deputy Finance Minister I Datuk Seri Ahmad Maslan said taxpayers who have arrears are advised not to wait until the last minute to make payments to avoid unwanted incidents.
“SVDP still has 10 months left. With a total of 13,000 taxpayers who have come forward so far in these two months, we expect this programme to exceed the initial target of 50,000 taxpayers,” he told reporters after a meeting with the Associated Zong Xiang Chamber of Commerce Malaysia here today.
The government, through the Inland Revenue Board (IRB) has implemented a strategy to expand tax revenue and collection more effectively through the SVDP, which started on June 6 this year until May 31, 2024.
Ahmad said as much as RM1 billion in additional tax collection was targeted through the programme for direct taxes for the IRB and the Royal Malaysian Customs Department for indirect taxes.
He said applications are open to new and existing taxpayers with the benefit of a 0% penalty and no surcharge.
“Taxpayers who qualify are advised to visit the IRB office during the programme before the audit and investigation activities, which are the IRB’s normal procedures, are upon them.
“This programme is expected to involve as many as 50,000 taxpayers, with estimated tax collection amounting to RM1 billion,” he said. – August 10, 2023