Seminar on “Special Voluntary Disclosure Program (SVDP)”
We are pleased to inform that Penang Chinese Chamber of Commerce (PCCC) and Inland Revenue Board Of Malaysia (IRBM) will jointly organize a seminar on the topic “Special Voluntary Disclosure Program (SVDP)” at the date, time and venue as follows:
Date : 26 February 2019 (Tuesday)
Time : 9.00am – 12.30pm
Venue : Tan Kok Ping Hall
1st Floor, Penang Chinese Chamber of Commerce Building
No.3, Light Street, 10200 Penang
Registration Fee: Free
Medium : English
For your information, the Special Voluntary Disclosure Program (SVDP) was announced in the 2019 Budget Speech and launched from 3 November 2018 to 30 June 2019, to allow taxpayers to voluntarily declare unreported income, including funds in offshore accounts, at a reduced penalty rate of only 10% to 15%, instead of the usual penalty rate of 80% to 300%.
The Inland Revenue Board of Malaysia (IRBM) has identified nearly 80,000 individuals, companies or partnerships with income which do not match with the reported tax and may have under-declared their taxes.
Taxpayers are advised not to ignore the letter or email received, as reply should be made to the IRBM within 30 days, immediate action should be taken in reviewing tax records and voluntarily declare income and expenses within the offer period of 3 November 2018 to 30 June 2019.
IRBM tax expert will provide in-depth explanation on “Special Voluntary Disclosure Program (SVDP)” at the seminar for participants to get to know its benefits. As seats are limited to 100, registration will be based on first-come-first-served basis. Hence, for those who are interested, kindly complete the enclosed registration form and email to email@example.com or fax to PCCC Secretariat at Fax: 04-250 4059 latest by 22 February 2019 (Friday). Thank you.