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Malaysia Postpones Implementation of Voluntary Disclosure Programme — Orbitax Tax News & Alerts

On 31 May 2023, the Inland Revenue Board of Malaysia announced on its website that the Special Voluntary Disclosure Programme (VDP) 2.0 has been postponed to a date that will be announced later. The VDP provides up to 100% penalty relief for voluntary disclosures and was to be implemented from 1 June 2023 to 31 May 2024, which had been confirmed by the Royal Malaysian Customs Department (RMCD) on 30 May 2023, via Facebook. However, the RMCD published an update on 31 May announcing that the implementation has been postponed. Further details on the implementation of the VDP 2.0 will be published once available.