Recipients of SVDP e-mail should register with IRB

04 Feb 2019 / 08:00 H.

KUALA LUMPUR: Individuals who received e-mails on the Special Voluntary Declaration Programme (SVDP) need to register as tax payers with the Inland Revenue Board (IRB).

IRB CEO, Datuk Seri Sabin Samitah said e-mail recipients should also report their income if their monthly salary is RM4,000 and above.

“For those operating business apart from sendirian berhad companies with annual income of about RM48,000 (or RM4,000 a month) after deducting operation expenses and capital allowance, are required to register as tax payer and declare their income to IRB.

“Registration can be carried out at any IRB branches or via e-Daftar at IRB’s official portal. Tax payers can ignore the letters or e-mails from IRB if their income received is less than the amount,” he said in a statement yesterday.

He said individuals should also declare their income to IRB if they owned bank accounts abroad with income generated in Malaysia.

He said under the Automatic Exchange of Information (AEOI) of the Organisation of Economic Cooperation and Development (OECD), Malaysia has begun receiving financial information especially from overseas bank accounts since September 2018.

“In this regard, if a tax payer has a bank account abroad with income generated in Malaysia which have yet to be declared to IRB are also told to declare the income to IRB,” he added. — Bernama

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