Tax Audits and Investigations

INTRODUCTION

Under the Self-Assessment System, tax audits are an important tool for the Inland Revenue Board to ensure taxpayers report tax liabilities in a fair and accurate manner. Tax payers face heavy penalties if they are found to have filed incorrect income tax returns. It is important for tax payers and tax agents to be fully aware of the legislative and other requirements pertaining to tax audits and investigations in order to avoid HEAVY PENALTIES.

COURSE OUTLINE

• What triggers an audit or investigation

• Risk areas for taxpayers

• Typical issues identified

• The Malaysian Penalty Regime

• Taxpayers’ Responsibilities

• Preparing for a tax audit/ investigation

• Computation of understated income

• The negotiation process and reaching a settlement

• Case studies

PROFILE(s)

Harvindar Singh is a Fellow of Chartered Association of Certified Accountants and is a member of the Malaysian Institute of Accountants (MIA) as well as the Chartered Tax Institute of Malaysia (CTIM). Harvindar was attached to the firms of PWC and E&Y as a tax consultant and is currently the Managing Partner of Harvey & Associates, a boutique firm that specialises in taxation consulting services as well as the Tax Partner in SCS Global Consulting (M) Sdn Bhd. Harvindar has more than 30 years of extensive experience in taxation advisory, transfer pricing documentation preparation, tax planning as well as tax audits and investigations and he serves as a Tax Specialist to numerous corporate entities such as SK International (M) Sdn Bhd and other MNEs and organisations. He is currently serving as the Chairman of the Editorial Board of the Budget Commentary and Tax Information Booklet which is produced jointly by MIA, CTIM and MICPA. Mr Harvindar is a Council Member of CTIM.