KUALA LUMPUR: The Inland Revenue Board (IRB) expects the special Voluntary disclosure programme (SVDP) – which has less than six months left before it ends on June 30 – to attract at least one million taxpayers.
IRB chief executive officer Datuk Seri Sabin Samitah said on Wednesday the department estimated RM10bil in tax collection under the SVDP.
“This is a golden opportunity for taxpayers to come forward voluntarily as the disclosures made will be taken in good faith by the IRB. Access to various sources of information on taxpayers and the use of big data enables the IRBM to track delinquent taxpayers,” he said.
Delivering the keynote address at an exclusive SVDP Seminar for C-suites and senior management executives organised by Deloitte Malaysia, he quipped: “As the saying goes ‘you can run but you cannot hide’ and hence, taxpayers are encouraged to take advantage of the SVDP, a one-off initiative offered by the government,” he said.