The Royal Malaysian Customs Department (RMCD) has released further information on the special voluntary disclosure program for indirect taxes that was announced in the 2022 budget, which is now known as the special voluntary disclosure and amnesty (VA) program, including a guide on the VA program (“VA program guide”) dated 31 December 2021 and frequently asked questions (FAQs) on the VA program. Taxpayers may now apply for approval to participate in the VA program, which aims to encourage companies and individuals to voluntarily disclose indirect tax liabilities (including duty, tax, levy, and/or penalty liabilities) outstanding on or before 31 October 2021 by offering incentives for the payment of liabilities during the period from 1 January 2022 through 30 September 2022.
Source Deloitte
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