KUALA LUMPUR: The Inland Revenue Board (IRB) is encouraging taxpayers with tax issues to take up the offer of the ongoing Special Voluntary Disclosure Programme (PKPS).
In a statement issued yesterday, IRB said taxpayers could do so at any IRB offices nationwide until June 30 next year.
“Through this offer taxpayers will be subjected to a lower penalty of between 10 per cent and 15 per cent of the amount of unpaid taxes compared to the 80-300 per cent (which will be implemented after June 30, 2019), once the voluntary disclosure phase ends,” the statement said.
It said the programme was an opportunity for non-compliant taxpayers to declare any unreported supplementary income.
The IRB would also accept taxpayers’ voluntary disclosure in good faith and would not make further review of the submission, it added.
Previously, the government said it was aimed at increasing government revenue collection for national development and formed part of the initiatives in tax reforms to encourage taxpayers to declare their income voluntarily.
Under this programme, taxpayers will pay as low as 10 per cent penalty (by March 31, 2019) or 15 per cent (April 1 to June 30, 2019). – Bernama
