LHDN offering installment payments for income tax arrears, real property gain tax

PUTRAJAYA: Taxpayers can now submit requests to make instalment payments for income tax arrears and real property gain tax for previous years without being having increased tax imposed, the Inland Revenue Board (LHDN).

LHDN said in a statement on Wednesday (July 26) that applications can be made throughout the duration of the Special Voluntary Disclosure Programme (SVDP) 2.0, from June 6 till May 31, 2024.

SVDP 2.0 is LHDN’s initiative to support sustainability in the national tax administration and offer a chance for taxpayers to voluntarily disclose their incomes and tax calculations accurately and in an organised manner.

The applications can be made in writing and submitted at IRB offices or online through the MyTax platform at https://www.hasil.gov.my/.

"As additional information, supporting documents do not need to be submitted as part of the application if the amount is settled within the period of the SVDP 2.0," the IRB said.

Taxpayers would also be given temporary exemption to travel bans under Section 104 of the Income Tax Act 1967 for consistent tax arrears instalments payments in accordance to the payment schedule.

LHDN added that failure to comply with the terms of the payments would result in an increase in taxes imposed. - Bernama