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Tax amnesty programme will improve tax collection, says Ernst & Young


Amarjeet Singh, partner and Malaysia tax leader at Ernst & Young Tax Consultants Sdn Bhd: “Other countries such as Indonesia and Thailand have introduced similar tax amnesty programmes to positive effect."

Amarjeet Singh, partner and Malaysia tax leader at Ernst & Young Tax Consultants Sdn Bhd: “Other countries such as Indonesia and Thailand have introduced similar tax amnesty programmes to positive effect."

KUALA LUMPUR: The government's special programme to encourage taxpayers to declare unreported income within a limited time period to enjoy low penalty rateswill encourage voluntary disclosures and improve tax collection in the short term, says Ernst & Young Tax Consultants Sdn Bhd.

Under Budget 2019, after the limited period, the penalty rates will significantly increase (to up to 300% of the undercharged tax) from June 30, 2019, Amarjeet Singh, partner and Malaysia tax leader at EY said.

Budget 2019 , Corporate News , Taxation

   

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