New Late Submission Penalty Rate (Effective on 1 June 2011)

The Inland Revenue Board will impose a penalty of up to 35% of the tax payable on a late filing of tax return.

The penalty for late filing as follows:-

Duration	Rates on tax payable
< 12 months	20%
12 - 24 months	25%
24 - 36 months	30%
> 36 months	35%

Note : Taxpayer must file their return and pay their tax by the due date to avoid heavy penalty charges. 

Sources : Sinchew