KUCHING: Don’t miss this chance. Under the Inland Revenue Board’s (IRB) special voluntary disclosure programme, taxpayers who have previously missed out or underreported their income can set things right without facing any penalty.
IRB chief executive officer Datuk Dr Mohd Nizom Sairi said the programme would allow taxpayers to voluntarily declare their income tax and face zero per cent penalty.
The programme will commence from June 1 this year until May 31 next year.
“It is an opportunity for taxpayers who have missed out on declaring their income, whether underreported or made an error, to come voluntarily within this one year period and report their income for recent years.
“The IRB will accept what is reported and the years in which they report voluntarily will not be audited again. We will consider the tax declarations as final or closed,” he said after attending the IRB Sarawak Media Appreciation 2023 ceremony yesterday (April 4) here.
Mohd Nizom said those who wished to declare their returns voluntarily can contact any IRB branch offices.
On whether the programme applied to those who participated in ‘kutu’ or tontine scheme (an informal funding and saving scheme), he said it depended on whether such funds were done for a profit.
“The traditional ‘kutu’ where no one makes a profit since they take turns to receive regular income, then it is not subjected to tax.
“However, the scheme nowadays where one makes a profit out of it, is considered as an income and therefore they need to pay tax,” he said.
