CPD EVENTS
INTRODUCTION
Further to the Income Tax (Transfer Pricing) Rules 2023 (“Malaysian TP Rules 2023”), which replaced Income Tax (Transfer Pricing) Rules 2012, Inland Revenue Board (“IRB”) has recently issued Malaysia Transfer Pricing Guidelines 2024. The TP Guideline has been issued to reflect the changes in requirements, provide examples and clarity. As such, it is taxpayers’ responsibilities to understand and comply to the Guideline’s requirements. Non-compliance will likely subject to the imposition of penalties.
In addition, TP Tax Audit Framework has been issued to introduce TP audit and process, outline the rights and responsibilities of IRB’s officer, taxpayers and tax agent. This TP Tax Audit Framework is effective from 24 December 2024 and revokes the TP Audit Framework dated 15 December 2019.The framework aims to ensure that TP audit is carried out in a fair, transparent and impartial manner.
COURSE OUTLINE
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Key changes in the TP Guidelines 2024 compared to
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TP Guidelines (updated in 2017)
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How the changes affect the preparation of TP documentation
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Case studies on the scope and application for the preparation of
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TP documentation
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Salient points in the TP Tax Audit Framework
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Highlights and the challenges during TP audit
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Effective ways in handling TP audit and appeal