Thannees Tax Consulting Services Articles in the Press and Social Media
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The importance of contemporaneous transfer pricing documentation
IT IS now mandatory to have the transfer pricing documentation (TPD) to support the arm’s length pricing of transactions undertaken between...
Failure to file tax returns can lead you to jail
THE Inland Revenue Board (IRB) has “turned up the heat” on taxpayers who fail to file their annual tax returns. The IRB is no longer willing to wait...
Is your information with IRB a secret?
TAXPAYERS submit voluminous information annually and upon request to the Inland Revenue Board (IRB). This is done through the filing of annual tax...
How do you resolve disputes with the IRB?
MALAYSIA practises a self-assessment system for income tax purposes – which effectively means that the taxpayer is responsible for filing tax...
Directors’ fiduciary duty and responsibility
IT IS commonly accepted by directors that upon settlement of tax matters with the Inland Revenue Board (IRB) or Royal Malaysian Customs (RMCD), that...
Taxing investment holding company now redundant
THE original intention of introducing a specific provision to deal with investment holding companies in 1993 has disappeared because the main income...
Lingering problems with foreign-sourced dividends
ON DEC 30, 2022, there was a press statement issued by the Ministry of Finance (MoF) which indicated that foreign-sourced dividends will be tax...
Time for fraudsters to stop cheating the taxman
GOOD taxpayers are being cheated by bad taxpayers who intentionally set out to avoid paying taxes or underpay their taxes. Be forewarned that...
Taxation of rental income for individuals
AS individuals with passive rental income need to file personal tax returns by April 30, 2023, this article provides an overview of the taxation of...
Luxury Tax is on the way – what goods will be affected, how will it be implemented?
THERE is a lot of noise around Luxury Tax. Some regard this as taking money from the rich and giving it to the rakyat. There is a lot of uncertainty...
Is the tax position of intangible assets clearer?
MALAYSIA'S Inland Revenue Board (IRB) had in the past taken the view that intangible assets do not qualify as an expense deduction or eligible for...
Time to stop the capital gains tax scaremongering
THROUGHOUT the past two decades, Malaysia has been running a budget deficit. This year’s deficit will be 5% of gross domestic product, amounting to...