A Seven Month-Long Tax Amnesty Starts in Malaysia Next Year

By in

Malaysia has launched an exchange of information initiative to get ready for its participation in the voluntary disclosure of information with overseas tax establishments (automatic exchange of information).

The amnesty will run until June next year and offers reduced penalty rates and a promise that no further investigations from the Inland Revenue Board on the information shared by the taxpayer. Both tax residents in Malaysia and non-residents are invited to participate.