Tax Audit

Understanding the intricacies of the tax audit process is vital for every business. With the Inland Revenue Board (IRB) of Malaysia intensifying the scope of tax audits, businesses face a higher risk of additional tax assessments and liabilities. These audits now cover numerous areas, including stock transfers, related-party transactions, restructuring, and international transactions.

At ALG Advisory, we offer comprehensive tax audit services, guiding you through the entire process. Our expertise spans assisting both individuals and corporate clients. We have a proven track record of managing tax audits effectively, significantly reducing final tax liabilities compared to initial audit findings.

Our experienced in-house team, supplemented by external consultants, liaises with tax officials to respond efficiently to tax authorities’ requests and inquiries. We ensure that your business stays compliant while minimizing potential liabilities.

Furthermore, we keep our clients updated on significant changes in tax audit regulations. For instance, effective May 1, 2022, the penalties under Section 113 (2) of the Income Tax Act, 1967 (ITA) have been revised to a new, reduced graduated scale. This change, prompted by a court case affirming the discretionary power of LHDN in imposing penalties, has important implications for businesses under audit.

Contact us at ALG Advisory for a non-obligatory discussion and proposal. We guarantee absolute confidentiality in all such discussions and look forward to helping you navigate the complexities of tax audits.