Special Voluntary Disclosure Program 2.0

As announced during the re-tabling of the Malaysia Budget 2023, the Inland Revenue Board (“IRB”) and the Royal Malaysian Customs Department (“RMCD”) will re-implement the Special Voluntary Disclosure Program 2.0 (“SVDP 2.0” or “Program”) and the Voluntary Disclosure Program (“VDP” or “Program”). The latest implementation period for the Programs is from 6 June 2023 to 31 May 2024.  The SVDP 2.0 and VDP see a full waiver of penalties for taxpayers who come forward under the Programs, covering both direct and indirect taxes.

To provide guidance on the implementation of the Programs, and to address the common questions surrounding them, the IRB and RMCD have issued the much anticipated guidelines and frequently asked questions (“FAQs”) on the Programs.  We are pleased to highlight to you some of the salient points in the guidelines and FAQs from direct and indirect tax perspectives.

The relevant materials and KPMG’s high level summaries can be accessed via the above links.

Coming Soon!

We will be organising a webinar on SVDP 2.0 very soon. Keep a look out and do register to get valuable insights into the mechanics of the Programs and learn how you can benefit from the Programs.

Evelyn Lee
Partner -
Penang Tax
evewflee@kpmg.com.my
+603 7721 2399

Crystal Chuah Yoke Chin
Associate Director -
Ipoh Tax
ycchuah@kpmg.com.my
+603 7721 2714

Regina Lau
Partner -
Kuching & Miri Tax
reglau@kpmg.com.my
+603 7721 2188

Titus Tseu
Executive Director  -
Kota Kinabalu Tax
titustseu@kpmg.com.my
+603 7721 2822

Ng Fie Lih
Partner -
Johor Tax
flng@kpmg.com.my
+603 7721 2514