M Update, 1/2/2019 – Taxpayers who have received letters or emails on the Special Voluntary Disclosure Programme by Lembaga Hasil Dalam Negeri (LHDN) are urged not to panic and to contact them for further clarification. There have 8.3 million letters and emails were issued to registered taxpayers to notify them of the special voluntary disclosure programme according to the IRB chief executive officer Datuk Seri Sabin Samitah.
He also inform that through this programme, taxpayers are allowed to pay penalty as low as 10% and 15% on the tax that they have to pay. Whilst tabling Budget 2019, the government announced that taxpayers who voluntarily disclosed their income and made full tax payment by March 31, 2019, would only face a 10% penalty. If taxpayers paid up by June 30, 2019 would face a 15% penalty. The penalty increases between 80% and 300% after the date.
However, for those who had reported their income, expenses and related tax exemptions to LHDN could ignore the letters and the emails sent to them. Besides that, he also inform the voluntarily disclosure made during this period time will gladly accepted without any questions asked by LHDN. In addition, taxpayers were advised to be alert to scam syndicates that would take advantage of this opportunity to fleece the public. For further information of the programme, public can get information via the nearest LHDN offices, or through its careline at 1-800-88-5436 (local) or through email at email@example.com – The Star Online