20% to 35% penalty for late or non-submission of tax returns

KUALA LUMPUR: The Inland Revenue Board (IRB) will impose a 20% to 35% penalty on taxpayers for late or non submission of their annual income tax returns within the stipulated deadline.
IRB chief executive officer Datuk Dr Mohd Shukor Mahfar said the penalty would be charged based on the delay duration between 12 months and 36 months.
"The penalty will not be more than triple the taxable amount," he said in a statement Friday.
Mohd Shukor said the IRB took a serious view of taxpayers being late or not submitting the returns at all.
The new directive came into force on June 1. Previously, a 10% penalty was imposed on late submissions.