LHDN’s SVDP 2.0 Deadline Looming: Don’t Squander This Opportunity

With the deadline incoming, on this episode of P&L, we're unpacking the Special Voluntary Disclosure Program 2.0 (SVDP 2.0) that comes to an end on May 31st with Harvindar Singh, Managing Partner at Harvey & Associates. He’s also a Council Member with Chartered Tax Institute Of Malaysia (CTIM).

This program includes a 100% waiver on tax penalty and is meant to encourage non-compliant taxpayers to report any incorrect or undisclosed taxes over the years.

Harvey is going to guide us through the intricacies of this program, who should be taking advantage of this and why this program can be a lifeline for individuals and corporate taxpayers who've made honest mistakes in their tax filings.

We'll break down the process and requirements for making a voluntary disclosure, including the necessary documentation and the repercussions of failing to meet the SVDP’s deadlines, as well as exemptions, limitations, and how the incoming e-invoicing regime makes this program even more valuable.

So listen in as we navigate these waters, ensuring you’re informed and ready to act before the SVDP 2.0 window closes. Whether you’re a small business owner or a larger corporation, understanding this program could have a significant impact on your taxes and future dealings with LHDN.