SOME 50,000 new and existing taxpayers with a total assessment value of RM1 billion are expected to participate in the Inland Revenue Board’s (IRB) Special Voluntary Disclosure Programme beginning June 1 until May 2024.

Deputy Finance Minister Ahmad Maslan said the programme, which was first implemented in 2019, will be reintroduced to encourage taxpayers to voluntarily file their income statements without being penalised, or be penalised at a 0% rate.

“The number and estimated income are based on the introduction of the tax identification number, which is registered to citizens aged 18 years and above,” he told a press conference at parliament today.

Ahmad said the programme aims to encourage the public to perform their responsibilities as honest, trustworthy and transparent taxpayers.

He said the IRB through its Awareness, Education and Services initiatives will assist taxpayers in carrying out their responsibilities.

He called on all Malaysians to take the opportunity to come forward to update their respective tax compliance statuses and not to wait until the last minute. 

He said this is to prevent taxpayers from being penalised as enforcement activities like audits and investigations will go on as usual. – Bernama, February 27, 2023.