Reduction of Penalty and Waiver of Tax Increase

ektp 2015/14
Reduction of Penalty and Waiver of Tax Increase
To All KTP Clients & Friends:
KTP is proud to share information in relation to the offer on reduction of penalty and waiver of tax
increase for voluntary disclosure and early settlement of tax arrears.
Inland Revenue Board of Malaysia (IRBM) has on 24 April 2015 released a press statement informing that
the IRBM is offering the reduction of penalty and waiver of tax increase for voluntary disclosure and early
settlement of tax arrears.
The offers comprise of:
1) Reduction of penalty at a specific rate for voluntary disclosure for the following cases:
 Taxpayers who failed to submit their Income Tax Return Forms (ITRF) for previous years of
assessments; and
 Taxpayers who wished to declare the correct amount against the income declared in the ITRF
submitted earlier.
2) Waiver of tax increase to taxpayers who wish to settle in full their Income Tax, Real Property Gains
Tax or Withholding Tax arrears before or on the 30 November 2015.
These offers are effective from 1 May 2015 to 30 November 2015. The eligibility of these offers depends on
the merits of the taxpayer’s case and also subject to the relevant Regulations issued by the IRBM.
However, these offers are not applicable to taxpayers whose tax files are handled by the Multinational
Tax Branch and Petroleum Branch of the IRBM.
For further details, please refer to the IRBM’s press statement at the link below:
http://www.hasil.gov.my.
This message was brought to you by KTP.
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whether wholly or partially, upon the whole or any part of the
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