As part of the Malaysian Budget 2022 speech last year, the Minister of Finance announced that it will introduce a special voluntary disclosure program for indirect taxes as part of concerted measures to increase tax revenue for the Malaysian Government. The guidelines underpinning the foregoing program was recently published by the Royal Malaysian Customs Department with a notable inclusion of an amnesty element within the framework of the rebranded Voluntary Disclosure and Amnesty Program for indirect taxes.

Background Following the recent entry into force of the Customs (Amendment) Act 2018 and the Customs (Amendment) (No. 2) Act 2018 (see link to our previous client alert here), the new Malaysian government has introduced another round of amendments to the Customs Act 1967 (“Customs Act”) via the Customs (Amendment)…