Taxpayers urged to report income

Finance Minister Lim Guan Eng (middle) and IRBM Chief Executive Officer Datuk Sri Sabin Samitah (second left) during the ‘Countdown To Special Voluntary Disclosure Programme’ at Menara Hasil Petaling Jaya on Sept 16.

WHILE tabling the 2019 Budget last year, Finance Minister Lim Guan Eng announced that the Government was initiating tax reforms to encourage taxpayers to voluntarily declare their income.

Called the Special Voluntary Disclosure Programme (SVDP), the initiative was implemented by the Inland Revenue Board of Malaysia (IRBM) as a step to help reduce leakages in the country’s revenue.