Search results
May 31, 2023 · Special Voluntary Disclosure Programme (SVDP) 2.0 provides an opportunity for taxpayers to come forward voluntarily to report their income and tax computations that are accurate and orderly in line with the IRBM rulings that are in force as well as encouraging taxpayers to pay taxes within the stipulated period.
Voluntary Disclosure Programme (SVDP) 2.0 for eligible taxpayers following the 2023 Budget Announcement by the Minister of Finance Malaysia on 24 February 2023.
application via SVDP 2.0 link at the IRBM/ MyTax official portal by downloading and completing the SVDP 2.0 Additional Income Reporting Form. 2. Submit the completed SVDP 2.0 Additional Income Reporting Form together with the tax computation (if applicable) by: i. upload the SVDP 2.0 Additional Income
SVDP 2.0 aims to encourage taxpayers to improve their tax compliance based on the Awareness, Education and Services (AES) concept practised by the IRB. The programme allows taxpayers to voluntarily declare their unreported or under-reported income in previous years without incurring any penalties.
support the pillars of sustainability in the tax administration in line with the concept of Malaysia Madani. This programme provides an opportunity for taxpayers to increase. The voluntary disclosure scope under SVDP 2.0 includes: / deductions / rebates and overclaimed capital allowances / incentives;Declaratio. of.
In Budget 2023, it was announced that the Inland Revenue Board (IRB) and Royal Malaysian Customs Department (RMCD) would be launching new SVDPs. The SVDPs will grant taxpayers full penalty relief for voluntary disclosures (VDs) made within a stipulated time period.
Special Programme On Indirect Tax Voluntary Disclosure. Login. Applicant Registration. Staff RMCD Registration. Guideline VDP. User Manual Public. Frequently Asked Questions.
Following this, the IRB published the Operational Guidelines No. 2/2023 – SVDP 2.0 and the FAQs to outline the details for SVDP 2.0 (see Tax Alert No. 9/2023 and Take 5: Reintroduction of Voluntary Disclosure Programmes, Malaysia). The Programme is effective from 6 June 2023 to 31 May 2024.
SVDP 2.0 is an initiative by the Inland Revenue Board (“IRB”) to provide a golden opportunity to taxpayers in the enhancement of nationwide tax compliance level encompassing the AES concept (Awareness, Education, Service) adopted by the IRB.
Initially reintroduced to increase the level of tax compliance and the nation’s tax base, Malaysia’s Special Voluntary Disclosure Program (SVDP) 2.0 provides the golden opportunity for taxpayers to start afresh on a clean slate.
