Indirect tax programme in the spotlight

Businesses may be particularly interested in the proposal to implement a Special Voluntary Disclosure Programme (SVDP) for indirect taxes.The indirect tax SVDP will be administered by the Royal Malaysian Customs Department (RMCD).

KUALA LUMPUR: The Finance Ministry’s (MoF) inaugural pre-budget statement, which provided a preliminary view on the direction of Budget 2022, will help enhance transparency and boost public and investor confidence.

Ernst & Young Consulting Sdn Bhd, in a note yesterday, said the pre-budget statement included various tax-related announcements, including potential avenues to enhance tax compliance and increase tax revenues.