In recent years, the probability of being selected for income tax review is getting higher, moreover, many big companies have been specially investigated by the Inland Revenue Board of Malaysia (IRBM) !
Under the income tax Self-Assessment System, the IRBM will randomly select 20% taxpayers each year for tax audit; this means that every taxpayer could be selected for a tax audit once in every five years.
The purpose of conducting a tax audit is to review a taxpayer's tax records and ensure that the taxpayer's income and taxes reported are true, accurate and in compliance with tax laws. However, it does not necessarily mean that a taxpayer who is selected for a tax audit has committed an offence.
In tax recovery, the IRBM mainly focus on recovering taxes from businesses and taxpayers who have additional income but have not reported to the IRBM, especially when the wealth and properties owned by the taxpayer do not match with the reported income.
Tax audit and special tax investigation
There are two types of tax recovery methods. One is the gentler tax audit, and the other is the more intensive Tax Investigation.
Tax Audit and Investigation Workshop
Want to know more about the tax authorities' actions and how the penalties are charged? You must participate in this YYC Tax Audit and Investigation workshop!
With 47 years of experience in tax practice, YYC will provide practical guidance and share real-life cases in this workshop to help prepare you in understanding and facing a tax audit or investigation.
Tax Audit and Investigation Workshop Highlights
1) Tax Audit
2) Tax Investigation
Why you should attend?
✔Helping you in understanding the rights you have in a tax audit or investigation
✔ You may be listed by the IRBM in the high-risk group
✔ Review whether your records are clear and make necessary corrections
✔ Reduce your tax audit risk by reporting the correct tax amount
✔ Understanding the framework of tax audit and investigation
✔Learn now and apply right in time to prepare your company and avoid unnecessary hefty penalties!
YYC Tax Guru & Tax Executive Director
-Licensed Tax Agent by Ministry of Finance
-Licensed GST Agent by RMCD & MoF
-Fellow Member of Chartered Tax Institute of Malaysia (CTIM)
-BBusCom (Monash), CPA (Aust.), C.A. (M), FCTIM
- He has been involved in the tax compliance and tax advisory works for more than 15 years in various industries ranging from manufacturing, trading (retail & business services), franchisor/ licensor, education, investment holding, investment dealing, forestation, agriculture, foundation, association and trade union.
- Active in giving tax related talks and seminars such as budget talk and tax updates seminar.
- Frequently invited by media such as Bernama and AiFM to share on tax topics.
- Topics of expertise include company tax planning, personal tax planning, tax investigation, Malaysian annual budget analysis, latest tax developments and other tax related topics.