Malaysia: Framework for voluntary disclosure program
Comprehensive guidance on implementation of the compliance verification audit programme (AViP)
The Royal Malaysian Customs Department (RMCD) on November 15, 2024, issued the framework for the voluntary disclosure program launched in July 2024—the compliance verification audit programme (audit verifikasi pematuhan or AViP). Read TaxNewsFlash
The AviP aims to shift from “detecting tax leakages” to preventing them, thereby improving self-compliance among taxpayers.
The new framework provides comprehensive guidance on the implementation of the AViP, which involves a series of audits targeting taxpayers to assess their compliance with relevant legislation, procedures, and policies administered by RMCD. It explains the types of audits and the mechanism for taxpayers to voluntarily disclose any non-compliance through self-assessment. The framework also verifies that audits are carried out responsibly and maintain a high level of compliance.
The AViP is an opportunity for taxpayers to rectify past discrepancies and to comply moving forward, while benefiting from the penalty remission offered by RMCD.
Read a November 2024 report prepared by the KPMG member firm in Malaysia