Insight into the Special Voluntary Disclosure Programme 2.0 (“SVDP 2.0”)
The Malaysian Government has rolled out the implementation of SVDP 2.0 from 6 June 2023 to 31 May 2024 covering both direct taxes and indirect taxes. Taxpayers are given an opportunity to come forward voluntarily to report their unreported income or under declared income and pay their taxes thereon without any penalty.
The Special Voluntary Disclosure Programme (SVDP) was first introduced in Budget 2019, gave taxpayers the opportunity to declare their unreported or under-reported income at reduced penalty rates.
It was reintroduced commencing from 6 June 2023 to 31 May 2023 (SVDP 2.0) and continues to encourage taxpayers to improve their tax compliance.
With a number of updates covering the 2.0 programme, download our insights into the latest SVDP 2.0
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