The Inland Revenue Board (IRB) of Malaysia introduced the special voluntary disclosure program “2.0” (SVDP 2.0) starting from 6 June 2023 until 31 May 2024. Under this program, qualifying taxpayers who voluntarily disclose undeclared or underdeclared income and pay the required taxes within the given timeframe will receive a full waiver of penalties and surcharges. The IRB released Operational Guidelines No. 2/2023 and FAQs regarding the SVDP 2.0.
Source: taxathand.com
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