TAX AUDIT 2018
WHILE OTHERS STRUGGLE TO LEARN UP ON TAX AUDIT: YOU ARE NOT ONLY AWARE OF IT, YOU KNOW HOW IT WORKS AND VARIOUS RISK MANAGEMENT & MITIGATION STRATEGY AT YOUR DISPOSAL
THE GARDENS, MID VALLEY CITY, KUALA LUMPUR TAX AUDIT 2018 : LATEST, COMPLETE AND PROFESSIONAL SOLUTIONS TO WHAT NEEDS TO BE DONE
INTRODUCTION In 2017 Inland Revenue Board (IRB) prioritised tax audit. The most probable purpose is to close the annual tax gap of 20% arising from hidden economy. From 1.1.2018 onwards, IRB will impose 100% penalty on tax undercharged on incorrect return.
STAY AHEAD OF THE CROWD
TAXPAYER UNABLE TO SHOW “GENUINE BUSINESS INTENT” When taxpayer charged under incorrect return (s 113(2) of Income Tax Act 1967), bona ﬁde, aka good faith, is NOT available as a Defence. This legal principle was aﬃrmed by recent Court of Appeal cases. This would mean that in order to mitigate penalty imposed, taxpayers MUST PROVE Genuine Business Intent. To prove Genuine Business Intent is an uphill task as can be seen in recent cases. This is especially so in Malaysia’s context. Majority of Tax and Accounting Personnel do not know WHAT are the Right Documentations to show a “Genuine Business Intent”.
ONLY LEFT WITH APPEAL TO SPECIAL COMMISSIONERS OF INCOME TAX Taxpayer is now left with the appeal to Special Commissioners of Income Tax (SCIT) as the ONLY remedy. Documentation, Stamped Agreement, Creditability of Witnesses become the winning points in tax appeal. Unfortunately these are often lacking in most companies. What taxpayers need is an overhaul of the Accounting and Record Keeping System. If you are Business Owner, Directors, Accountants, Tax Agents or Legal Advisor involved in advising or overseeing the record keeping for companies, this seminar is a Must-Attend for you.
UTILISE REAL CASE PRECEDENT AND CASE STUDIES APPROACH The vital aim of this Malaysia Tax Audit 2018 seminar is to highlight to Legal, Tax and Accounting Professionals what the New Tax Audit’s foreseeable Challenges are and the Professional Solutions that needs to be carried out. Tax Audit 2018. Empower You the Latest, Complete and Professional Solutions to What Needs to be Done!
FACE TAX AUDIT 2018 CONFIDENTLY ! C O P Y R I G H T ( C ) 2 0 1 8 S Y N E R G Y T A S P L T.
DR CHOONG KWAI FATT is the expert in tax planning for companies and individuals. He is appointed by the Ministry of Finance as one of the panel members to review tax reforms in Malaysia. He has conducted and published extensive researches on tax way back since 2006. Dr Choong being an avid researcher, he has also studied taxation system from various countries. Many of his works are quoted in Tax Cases. He is also widely known for his ability to formulate the “unthinkable” strategies and clearly thought of implementation plan. He is constantly sought by many listed companies as well as high net worth individual and SME for his practical and impressive strategy as to corporate restructuring and of course, his foresight into the potential Tax Audit concerns. He is the expert of experts in terms of Tax Planning and corporate restructuring, where he provides advice and personally trained corporate accountants, professional ﬁrms, company secretary and legal advisors on corporate restructuring, Income Tax, Tax Audit, RPGT and GST implementation. Get ready to take good notes when you attend this Company Law with Tax Planning seminar.
DR CHOONG KWAI FATT B.Acc(Hons)(Malaya),LL.B(Hons)(London), CLP, MCL(IIUM),PhD(IIUM), FCCA(UK), CPA(M), CA(M), ACA(ICAEW), CA(Aust.),CPA(Aust.), CGA(Can), FCCS. TAX CONSULTANT, ADVOCATE AND SOLICITOR (HIGH COURT OF MALAYA)
Malaysia Tax Audit 2018, Get the Right Documentation for IRB Tax Audit, Dr Choong Kwai Fatt, Income Tax