PUTRAJAYA — Taxpayers can now submit requests to make installment funds for earnings tax arrears and actual property acquire tax for earlier years with out being having elevated tax imposed, the Inland Income Board (IRB) mentioned.
IRB mentioned in a press release as we speak that purposes will be made all through the period of the Particular Voluntary Disclosure Programme (SVDP) 2.0, from June 6 until Could 31, 2024.
SVDP 2.0 is IRB’s initiative to assist sustainability within the nationwide tax administration and provide an opportunity for taxpayers to voluntarily disclose their incomes and tax calculations precisely and in an organised method.
The purposes will be made in writing and submitted at IRB places of work or on-line by way of the MyTax platform at https://www.hasil.gov.my/.
“As further data, supporting paperwork don’t must be submitted as a part of the applying if the quantity is settled inside the interval of the SVDP 2.0,” the IRB mentioned.
Taxpayers may even be given non permanent exemption to journey bans underneath Part 104 of the Revenue TAx Act 1967 for constant tax arrear installment funds in accordance to the cost schedule.
IRB added that failure to adjust to the phrases of the funds will lead to a rise in taxes imposed. –BERNAMA