ASIAN REGULATORY ROUND UP – MALAYSIA EXTENDS UNPAID TAX AMNESTY
April 1st, 2019
MALAYSIA has extended its grace period for taxpayers who have under-paid in the past, allowing for low penalties should undeclared income be filed on returns this year. This even covers taxpayers who have yet to register with the Inland Revenue Board of Malaysia, and those who have registered but have not submitted ITRF/PRF/RPGTRF returns. Penalties for voluntary disclosures made before July 1 (2019) will be 10% of unpaid tax; 15% for those made between then and October 1. See details ...
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