SVDP 2.0 applies from 6 June 2023 to 31 May 2024 and covers indirect taxes payable up to 28 February 2023, except for tax liabilities under investigation or at trial, under audit or where bills of demand have been issued. The scope of SVDP 2.0 covers sales tax, services tax, goods and services tax and tourism tax, but not import taxes. Eligible participants include registered person that have failed to submit returns or have undeclared/underpaid taxes. Taxpayers electing to participate in SVDP 2.0 must pay the due in full, either by making a lump sum payment or instalment payments, and applications are made online.
Source: BDO
Latest Posts in "Malaysia"
- Malaysia issues guidance on foreign currency exchange rates for service and sales tax invoices
- Malaysia Introduces Accelerated Capital Allowances to Support E-Invoicing Implementation from 2024 to 2027
- Accelerated Capital Allowance for E-Invoicing: New Rules for YA 2024–2027 in Malaysia
- Understanding E-Invoicing and Required Electronic Documents Under Malaysia’s E-Invoice System
- Malaysia Introduces Financial Incentives to Accelerate E-Invoicing Adoption and Compliance
