In the speech in 2021, as part of the Malaysian Budget 2022, the Minister of Finance announced that it would introduce a Special Voluntary Disclosure Programme for indirect taxes as part of concerted measures to increase tax revenue for the Malaysian Government.
The Royal Malaysian Customs Department ("Customs") published the guidelines that underpin the aforementioned programme ("Guidelines") on December 31, 2021, which include a notable inclusion of an amnesty element within the framework of the rebranded Voluntary Disclosure and Amnesty ("VA") Program for indirect taxes.
To know more about Indirect Tax Special Voluntary Disclosure & Amnesty Program:-
Duration of the VA Programme
The programme is divided into two (2) phases as follows:-
Surpassingly the programme ended on September 30, 2022; however, to encourage more businesses to voluntarily reveal and complete the full settlement of unpaid or underpaid indirect taxes to the RMCD, the RMCD recently announced on their MySST website that the timeline for payments to be made under Phase 2 of the VA Program would be extended by two weeks until October 14, 2022.
This extension of time is only available to those businesses who have already completed and uploaded their VA Program application forms (VA-01 Form) into the MyVA system on or before the 30th of September 2022.
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