TP AUDIT DEFENCE & TAX APPEAL
Are you ready for your Tax Audit Defence
Upon a tax audit conducted by the Inland Revenue Board Malaysia (IRBM) with unfavourable findings and the issuance of an audit findings letter or Form J/JA for tax adjustment, the taxpayer need to prepare for an audit defence and/or audit appeal if they decide to object to the IRBM’s audit findings. There are various ways to make an objection, such as the Dispute Resolution Proceeding.
The taxpayer also has the right to appeal to the SCIT and to the High Court. Our tax lawyer working in association with us will guide you through the process.
(Disclaimer: We are not a legal service provider and work in association with independent legal firms.)
DID YOU KNOW? In Malaysia, transfer pricing audits have become increasingly common as tax authorities intensify their scrutiny of domestic and cross-border transactions. To mitigate risks associated with these audits, companies must maintain robust transfer pricing documentation that adheres to Malaysian regulations. Contemporaneous transfer pricing practices are essential, requiring businesses to prepare and maintain documentation at the time of the transaction or before the tax return filing deadline. This approach not only ensures compliance with transfer pricing Malaysia guidelines but also strengthens a company’s position during a tax audit.
Getting Ready for Your Tax Audit Defence or Tax Appeal 5-STEP SYSTEMATIC PROCESS
01
AUDIT FINDINGS FROM IRBM
This is an audit findings letter issued to the Taxpayer which covers audit issues and the reasons and rationale for raising the audit issues. Provide us this audit findings letter/Notice that you have received from IRBM.
02
SUPPORTING DOCUMENTS
Provide us your CTPD and all supporting documentations for our review.
03
REVIEW
Documents will be reviewed.
04
DISCUSSION
The tax issues will be discussed.
05
INITIATE
Tax lawyer will initiate appropriate steps to represent the Taxpayer.
Contact us for your TP Audit Defence
Regulatory compliance is key when it comes to CTPD. To enhance our service offerings where audits are concerned, we draw from our pool of affiliate tax and legal professionals who work in association with us to provide tax advice and representation in TP audit defence matters.