Tax Audits – Are you ready? Strategies to enhance tax risk management

Tax Audits – Are you ready? Strategies to enhance tax risk management

What is ‘Spotlight Session’? This is a unique platform for companies to introduce or feature products, services and inspiring information to the AMCHAM audience in a most immediate way. By addressing a small but intensive audience, the Spotlight Session is an ideal environment for high impact involvement and direct interaction.

This Spotlight Session is Sponsored by Lee Hishammuddin Allen & Gledhill.

With the ever growing tax collection targets in recent years, the Inland Revenue Board (“IRB”) and Customs have intensified their tax audits and tax investigations. This is coupled with recent BEPS Report targeting MNCs on transfer pricing, permanent establishment and tax treaty abuse.

S. Saravana Kumar, Partner at Lee Hishammuddin Allen & Gledhill will highlight the key tax issues faced by MNCs in Malaysia and the challenges awaiting them. The discussion will also touch on the common risks associated with tax audits and the strategies to manage them.
The discussion will cover the following Tax Topics:-

  • Transfer pricing – CbCr & Changes to the OECD Transfer Pricing Guidelines
  • Capital allowances, reinvestment allowance and industrial building allowance
  • Tax treatment of financing costs
  • Tax incentives under the Promotion of Investments Act 1986
  • Withholding tax
  • Foreign source income
  • Permanent establishment
  • Labuan – Tax avoidance structure, management and control
  • Liabilities of directors under the tax legislations
  • Relief from IRB for taxes paid under mistake

About Lee Hishammuddin Allen & Gledhill
The Firm Lee Hishammuddin Allen & Gledhill is a multi-practice law firm committed to provide personalised legal solutions to businesses including GLCs. An established name in the Malaysian legal landscape, the firm consists of more than 100 lawyers specialising in various aspects of corporate and commercial law. Tax, GST & Customs Practice Our practice team consists of highly rated and awarded thought leaders in the field of tax. Our tax partners, Datuk D.P. Naban and Mr S. Saravana Kumar are ranked as leading tax lawyers in Malaysia.

Our sub-specialisation includes:-

Income Tax
International Tax (Including cross-border transaction tax and withholding tax)
GST
and many others