RM512.6mil in taxes collected through SVDP 2.0, Dewan Rakyat told
The Inland Revenue Board (LHDN) approved RM1.2bil in tax assessment applications under the Special Voluntary Disclosure Programme (SVDP) 2.0, said Finance Minister II Datuk Seri Amir Hamzah Azizan in the Dewan Rakyat on Tuesday (July 16).
Of that amount, LHDN collected RM512.6mil in taxes under the programme, he added.
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Of that amount, LHDN collected RM512.6mil in taxes under the programme, he added.
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NewsTranscript
00:00PKPS 2.0 has been implemented by LHDN and JKDM
00:09with a penalty of 0%.
00:13For the disclosure of a scorela made by the individual and the company
00:18in the period from 6 June 2023 to 31 May 2024.
00:26PKPS 2.0 under LHDN gives a chance to new and existing credit payers
00:33to display willingly to report income, asset loss
00:39and stamping documents or agreements that have been completed
00:44in accordance with the established conditions.
00:47PKPS 2.0 under JKDM also includes
00:52a willingness to report a debt under the scope of sales debt,
00:59savings debt, goods and services debt
01:03and tourism debt in accordance with the established conditions.
01:09This program has facilitated credit payers who have completed their application
01:17to make payments simultaneously or separately.
01:24Throughout PKPS 2.0,
01:28applications received by LHDN and JKDM
01:31show a strong response from credit payers.
01:35During this time, LHDN has also passed
01:39141,406 applications for a scorela
01:46involving 102,572 individual credit payers
01:5327,707 corporate credit payers
01:57and more including other categories such as investment.
02:02This number includes a scorela reported as much as
02:061.29 billion ringgit.
02:09The number of applications received has exceeded the initial target
02:16of 1 billion ringgit.
02:18Out of these applications,
02:20a total of 512.6 million ringgit has been collected.
02:27JKDM has also received a total of 1,542 applications
02:32for a scorela from individual and corporate credit payers
02:37with a scorela reported as much as 229 million ringgit.
02:43This number has also exceeded the initial target
02:46of 500 applications
02:49with a scorela reported as much as 200 million ringgit.
02:54The scorela collected by PKPS
02:56will be included in the combined fund.
02:59It will be used again to finance state spending
03:04through annual spending
03:07including public development projects
03:09such as schools, universities, hospitals, roads, and so on.
03:14Thank you.
03:16Next, I would like to invite Mr. Tampin for additional questions.
03:20Thank you, Mr. Speaker.
03:22Thank you, Mr. Minister, for the answer.
03:25I think the success of PKPS is very good and inspiring.
03:30My additional question, Mr. Minister,
03:32will the Ministry of Finance expand the PKPS
03:35to the Ministry of Customs, Malaysia and other agencies
03:38so that it can increase the company's awareness
03:41to explain the interest?
03:43I think this step is very appropriate
03:45and in line with the government's desire
03:48to implement e-invoice fully by 2025.
03:53This action will certainly be an incentive
03:56to small and medium-sized entrepreneurs
03:58to continue to compete
04:00and train them to be a disciplined interest payers.
04:03Please explain, Mr. Minister.
04:05Thank you, Mr. Speaker.
04:06Thank you, Mr. Minister of Finance, for your answer.
04:09Thank you, Mr. Tampin.
04:11Mr. Speaker,
04:13so far, the government is not reluctant
04:15to continue this program
04:17for a longer period.
04:19The PKPS 2.0 period provided
04:23for this year
04:25is an incentive to give an opportunity
04:27to interest payers
04:29to report their income or debt
04:31for the transaction of sales or services
04:34for the previous period.
04:36Although the PKPS 2.0 period is not continued,
04:40both the LHDN and JKDM agencies
04:44have devised a strategy
04:46to increase interest settlement.
04:48LHDN practices the concept
04:50with the permission of
04:52Awareness, Education and Service
04:54through various awareness programs
04:57and interest education
04:59as well as interest service.
05:01This approach gives an opportunity
05:03to individuals and businesses
05:05to get advice and guidance
05:07including interest management,
05:09legal understanding
05:11and settlement of interest issues.
05:14JKDM has also provided
05:17a new audit strategy
05:19for the period 2024-2026
05:23which is preventive
05:25which is to prevent and detect
05:27the loss of income.
05:29Through this new strategy,
05:31the audit strategy is to
05:33approach business entities
05:35especially registrars,
05:37licensors, importers
05:39and exporters
05:41to reduce the risk of
05:43errors,
05:45irregularities and misunderstandings
05:47in the early stages
05:49of registration or licensing.
05:53This strategy will increase
05:55the level of settlement
05:57of business entities
05:59towards the loss of income
06:01indirectly through
06:03a comprehensive audit approach
06:06and customer-friendly
06:08which is called
06:10settlement verification audit.
06:12The elements of PKPS 2.0
06:14will be continued in this AVIP
06:16where if the results of
06:18the audit findings
06:20are negative,
06:22the individuals and companies
06:24will be advised
06:26to confess
06:28and pay interest,
06:30duty or levy
06:32based on their
06:34consent.
06:36This initiative will be offered
06:38with a remission penalty
06:40of 100% or 50%
06:42depending on the payment
06:44time
06:46by the individuals and companies.
06:48Thank you.