Reduction Of Penalty For Voluntary Disclosure And Waiver Of Tax Increase For The Settlement Of Tax Arrears

Reduction Of Penalty For Voluntary Disclosure And Waiver Of Tax Increase For The Settlement Of Tax Arrears

As part of the 2016 Budget Recalibrations’ effort announced by The Prime Minister of Malaysia and in encouraging more tax payers to voluntarily disclose their correct income and to settle their tax arrears, The Inland Revenue Board of Malaysia (IRBM) hereby provides the following offers in support of the aforementioned initiatives:

i. Reduction of Penalty at a specific rate (Please refer to Table 1) is offered to tax payers who opt for voluntary disclosure with regards to the following cases:

a. Tax payers who failed to submit their Income Tax Return Forms (ITRF) or Petroleum Tax Returns (PTR) for previous years of assessment (late submissions of ITRF or PTR); and
b. Tax payers who wish to declare the correct income against the income declared in the ITRF submitted earlier.
c. Disposers who failed to report the gains obtained from the disposals of real properties within a stipulated period of time; and
d. Stamp duty payers who failed to present stampable instruments within a stipulated period of time. For Immediate Release Page 2 of 3 Media Release February 10th, 2016

ii. Waiver of Tax Increase (Please refer to Table 1) is offered to tax payers who wished to settle in full their income tax, petroleum tax, real property gains tax or withholding tax arrears before or on the 15th December 2016.

2. The offers provided are effective beginning the 1st March 2016 until the 15th December 2016.

3. The eligibility for these offers depends on the merits of the tax payer’s case and are subjected to the rules and regulations set forth by IRBM.

4. The guidelines for applying the offers can be found at IRBM’s official website – www.hasil.gov.my .

5. For more information regarding the two offers, tax payers are advised to call the Reduction of Penalty and Waiver of Tax Increase Help Desk (Meja Bantuan Pengurangan Penalti dan Penghapusan Kenaikan Cukai) at 03 – 8313 8885 or Call Centre at 1-800-88-5436.

Issued by: Masrun Bin Maslim | Customer Care Officer (Media) Corporate Communications & Multimedia Division | Corporate Services Department Inland Revenue Board of Malaysia

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