LHDN is offering taxpayers to apply to pay their outstanding income tax and real estate gains tax in installments, and no additional taxes will be levied. Taxpayers can apply during the Special Voluntary Disclosure Program 2.0 (SVDP 2.0), which will run from June 6 this year to May 31 next year.
LHDN Aims To Encourage Taxpayers To Declare Their Income Voluntarily
LHDNhas said that taxpayers who have paid their tax during the period of Special Voluntary Disclosure Program 2.0 will not be required to submit documentary proof at the time of application.
The citation said that under Section 104 of the Income Tax Ordinance, 1967, taxpayers will be exempted from the ban on exit from the country as long as they pay the tax in accordance with the installment schedule. However, failure to comply with the terms of payment would result in an increase in the amount of tax levied.
