TAX AUDIT & INVESTIGATION WORKSHOP -
TAX AMNESTY PROGRAMME
RECALIBRATE & MAKE IT RIGHT
OVERVIEW
Budget 2019 has unveiled the Special Voluntary Disclosure Program (SVDP) with attractive penalty rates of 10% and 15%. Taxpayers (whether organisations, individuals or employers) are now offered a golden opportunity to recalibrate their tax affairs.
WHY SHOULD YOU TAKE ACTION NOW?
Upon expiry of the SVDP, the penalty rates will increase tremendously to 80% (up to 300%), depending on the nature of the offence.
WHO SHOULD BE CONCERNED?
Organisations
- It is a good time to revisit and reassess your tax position taken in the past and even now and take proactive measures to mitigate tax penalties arising from potential disputes by the IRB.
Individuals
- IRB will intensify their investigation into your unexplained extraordinary wealth.
- Sources of checks:
- Social media footprint – checking in
- IRB’s Intelligence & Profiling Department – spies,friends or foe
- CRS (Common Reporting Standard) / AEOI (Automatic Exchange of Information) – where your financial and investment portfolio in overseas financial institutions of participating countries in the AEOI programme will be automatically revealed to the IRB.
Employers
- One of IRB’s focuses will be verifying the employer’s accuracy and completeness in reporting the employees’ and directors’ remuneration.
1. IRB DIRECTOR, TN. MUHAMMAD MUSTAFA
2. DELOITTE MALAYSIA, MS. ANG WEINA
3. DELOITTE MALAYSIA, MR. CHOW KOU SENG
Registration Deadline: December 6, 2018