Still time for voluntary tax disclosure

They can still make voluntary disclosures at any time via letters or e-mails as long as audits or investigations on their files by the Inland Revenue Board (IRB) have yet to commence, said Tax Advisory and Management Services Sdn Bhd chief executive officer Yong Poh Chye.

PETALING JAYA: Taxpayers who have missed the Sept 30 deadline for the Special Voluntary Disclosure Programme (SVDP) can still make voluntary disclosure of their unpaid taxes.

The good news is that they won’t be immediately slapped with the heavy penalty rate of between 45% and 300% as initially announced, although the penalty rates will be higher than the penalty rates imposed during the SVDP period.