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Special Voluntary Disclosure Programme (SVDP) 2.0

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In the tabling of the Revised Budget 2023, our Prime Minister and Finance Minister, YAB Dato’ Seri Anwar bin Ibrahim announced the reintroduction of the Special Voluntary Disclosure Programme (“SVDP2.0) to incentivize taxpayers who have not paid or have underpaid their taxes.

Back in 2018, the Malaysian government introduced SVDP1.0 which was for applications made during the period between 3 November 2018 to 30 September 2019. The objective of introducing SVDP1.0 was to incentivize taxpayers who have not paid their taxes or have under-paid their taxes. Some key statistics from SVDP1.0 were:

  • The total collection of SVDP 1.0 was RM 7.88 bil from SVDP 1.0
  • This amount was collected from 286,428 taxpayers
  • 11,176 were new taxpayers
In 2022, the Malaysian government has further expended efforts to promote tax compliance by introducing the Voluntary Disclosure and Amnesty Programme (“VAP1.0”), specifically targeting underpayment of indirect taxes. This VAP1.0 allowed taxpayers to rectify any underpaid indirect taxes by submitting applications between 1 January 2022 and 30 September 2022. 
What is SVDP 2.0?

SVDP2.0 was introduced with the following key points announced during the Revised Budget 2023:

  • For companies and individuals
  • SVDP period from 6 June 2023 to 31 May 2024
  • 0% Penalty Rate
  • Includes Direct and Indirect Taxes
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