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CYBERJAYA: Those who have been evading taxes in the past, whether individuals or companies, will have a chance for a clean slate under an amnesty programme, says the Inland Revenue Board (LHDN).
PETALING JAYA: The Inland Revenue Board (LHDN) must be clear about its “zero-penalty” Special Voluntary Disclosure Programme 2.0 (SVDP) to avoid misunderstandings or confusion, say experts.
KUALA LUMPUR, May 18 — Seeking to build up Malaysia’s revenue, the Inland Revenue Board (IRB) is also offering a full reset for those who have yet to pay their taxes to do so...
In a recent media release, dated 11 May 2023, and focused on VAT Refunds and Registrations, the South African Revenue Service (“SARS”) stated that it is committed to paying legitimate refunds to qualifying taxpayers, as and when they become due. In line with this commitment, SARS reported that during the 2022/23 financial year, a record R381bn in refunds were paid, of which, R319bn were VAT refunds. This appears to be in line with their strategic objective to make compliance easy, and sometimes seamless for taxpayers.
Long gone are the days where SARS relied solely on taxpayer transparency in the completion of tax returns, including the accurate disclosure of taxable income, write Jashwin Baijoo and Richan Schwellnus.