14 November 2018
Circular No. 89/2018TO ALL ACCOUNTANTS
IRB OPERATIONAL GUIDELINES NO. 1/2018 – SPECIAL PROGRAM FOR VOLUNTARY DISCLOSURE The Inland Revenue Board of Malaysia (IRBM) has, on 3 November 2018, issued Operational Guidelines No. 1/2018 which outline the implementation procedures of the Special Program for Voluntary Disclosure (Special Program) for eligible taxpayers following the 2019 Budget announcement by The Honorable Minister of Finance Malaysia on 2 November 2018.
This Special Program covers voluntary disclosure and payment within the stipulated period on:
i. income not previously declared/under-declared, expenses over-claimed/not allowed and reliefs/deductions/rebates over-claimed;
ii. gains on disposal of assets (real properties and shares in real property companies); and
iii. stamping of instruments not previously stamped
The above guidelines can be downloaded from the IRBM’s website at the link below:
Please be guided accordingly.
DR. NURMAZILAH DATO’ MAHZAN
Chief Executive Officer