The Workshop goes beyond law and theory and participants will be guided through the practical steps that should be taken from the start of business, and how to respond should they come under Audit or Investigation. Equally importantly, the seminar identifies the implications of information furnished in Return Forms and how this may expose the company to more detailed attention from the Inland Revenue Board.
The Workshop Programme includes the following:
A. Preparation of Accounts and Records
i. Role of Bank Statements, Receipts, Bills, Vouchers, Agreements.
B. Issues Arising from Return Forms
i. Analysis of Financial and Accounting Position.
ii. Data Relationships, Income Tax Computations, Related Party Transactions.
C. Audit/Investigation Action by Inland Revenue
i. Verification of Amount Declared from accounts, records, bank statements, etc.
ii. Capital Statements and Means Test, Estimates of Living Expenses.
iii. Transfer Pricing & Contemporaneous Transfer Pricing Documentation.
iv. Computation, Assessments & Penalties, and Effective Appeals.
Vincent Josef began his career with the Inland Revenue Board in 1968 and over the next 35 years, he served in various Branches. Prior to his retirement, he was with the Operations Division of the Board Headquarters where he held the position of Assistant Director General. In addition, He has wide experience in lecturing at IRB events and Malaysian professional institutions including Chartered Tax Institute of Malaysia, Malaysian Institute of Accountants, CPA Australia, MAICSA and Commerce Clearing House (CCH) Malaysia. With his 50 years’ experience in the field of taxation, he also manages his own practice providing taxation consultancy services focusing on Tax Audits and Investigations. He has written a book “Tax Audit and Investigation Guide – Malaysia” published by CCH Malaysia and served as their Consultant Editor in respect of the Malaysian Master Tax Guide.