RM1.711b of Outstanding Taxes Recovered Under Reduction of Penalty Initiative

According to the Deputy Finance Minister, outstanding taxes of RM1.711b were collected from 1 March 2016 to 31 August 2016 under the offer of a reduction of penalty for voluntary disclosure that was announced in the recalibrated Budget 2016. He reiterated that the offer will end on 15 December 2016 and there are no plans for its extension.

Source: Bernama, 8 November 2016