Govt to bring back income tax Voluntary Disclosure Programme

 

The Voluntary Disclosure Programme is an initiative to expand the number of taxpayers and increase the country’s revenue. (Bernama pic)

PETALING JAYA: The government plans to reimplement the Voluntary Disclosure Programme (VDP) to expand the number of taxpayers as well as increase the tax compliance level and the country’s revenue, said the finance ministry.

The ministry said the VDP would allow the people to voluntarily pay tax arrears without penalties or at a rate of 0%.

“This (initiative) will be implemented by the customs department and the Inland Revenue Board (LHDN) starting June 6 until May 31, 2024,” it said.

Ads by Kiosked

Information concerning the VDP is available on the official customs and LHDN websites, it added. - FMT