IRB expects some 50,000 participants in tax disclosure programme

SOME 50,000 new and existing taxpayers with a total assessment value of RM1 billion are expected to participate in the Inland Revenue Board’s (IRB) Special Voluntary Disclosure Programme beginning June 1 until May 2024.

Deputy Finance Minister Ahmad Maslan said the programme, which was first implemented in 2019, will be reintroduced to encourage taxpayers to voluntarily file their income statements without being penalised, or be penalised at a 0% rate.