Malaysia Publishes 2022 Pre-Budget Statement

The Malaysian Ministry of Finance has announced tax plans for Budget 2022, which are covered in a 2022 Pre-Budget Statement. This includes that the Government is considering the following measures to increase tax revenue through increased tax compliance:

• Implementation of the Special Voluntary Disclosure Program (SVDP) for indirect taxes administered by the Royal Malaysian Customs Department (RMCD). Through this programme, taxpayers are encouraged to voluntarily come forward to declare any…