Taxman won't be smiling when he comes knocking, dodgers warned

PARLIAMENT | The Inland Revenue Board (IRB) would not be “friendly” when it launches a dragnet against Malaysians who have not paid their taxes or stashed their wealth abroad, warned Deputy Finance Minister Amiruddin Hamzah.

He said this hard approach would be adopted when the deadline for the Special Voluntary Disclosure Programme (SVDP) ends in September.

"When we want to collect something from the people, of course (we have to) take the friendly approach which is more acceptable.

"But when the people do not come forward (to declare their income) voluntarily and when we go after (them), it will not be so friendly," he told the Dewan Rakyat during the question-and-answer session this morning.

He said the government would also monitor potential tax evasion via the Automatic Exchange of Information (AEOI) which allows the government to access information of overseas' bank accounts held by Malaysians.

Amiruddin was responding to Wong Kah Woh (Harapan-Ipoh Timur), who asked what approaches IRB would take with regard to the SVDP.

[More to follow] - Mkini