Tax updates: Special Voluntary Disclosure Programs (SVDP)

The Special Voluntary Disclosure Program (SVDP) is implemented to offer reduced penalty rates for voluntarily disclose tax non-compliance for the year of assessment 2017 and prior.

​In the event where the voluntary disclosure results in a higher incremental tax than the audit estimate, the difference will be considered a voluntary disclosure.

​The penalty rates after the SVPD will be subjected to a minimum rate of 45% to 300% on a case by case basis. This voluntary disclosure can be made at the nearest IRBM office commencing from 3 November 2018 until 30 September 2019. Please note that this will be the last month of the SVDP program.

​If you need further clarification, please do not hesitate to contact our tax team.
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Source: www.hasil.gov.my/bt_goindex.php?bt_kump=4&bt_skum=1&bt_posi=1&bt_unit=1&bt_sequ=1&bt_lgv=2
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