Tax Alert - issue 04

Tax Alert

Guidelines on the Offer in Reduction of Penalty for Voluntary Disclosure and Waiver of Tax Increase for Settlement of Tax Arrears

The Inland Revenue Board of Malaysia (IRBM) has issued guidelines on the offer in reduction of penalty for voluntary disclosure and waiver of tax increase for settlement of tax arrears (GPHDN 1/2016) following the announcement by the Government on 28 January 2016 in the Recalibrations of 2016 Budget.

The eligibility for these offers depends on the merits of each taxpayer’s case and are subject to the rules and regulations set forth by the IRBM. 

The guidelines (available in Malay language only) can be viewed here.

If you need any clarification regarding the guidelines, please contact us.