Events - 22 09 2020
EVOLVING TRANSFER PRICING LANDSCAPE IN MALAYSIA - WEBINAR
In recent years, we have seen major changes in Malaysia’s
transfer pricing (“TP”) landscape that are affecting businesses
in this increasingly challenging business environment,
especially those with local and overseas related party
transactions.
Transfer pricing is not something new, in fact, TP concept was
first introduced into the Malaysian tax legislation on 1 January
2009. Over the years, the Malaysian TP landscape has evolved
rapidly with the Inland Revenue Board (IRB) becoming
increasingly aggressive and vigilant in scrutinising both local
and cross border related party transactions. On 15 July 2017,
TP Guidelines 2012 were updated to reinforce the existing
standards in line with the latest international taxation and TP
requirements. Subsequently in the Finance Bill 2018, the
parameters of the “control test” was widen to include
associated companies with 20% shareholding or more. The
amendments and updated guidelines signal a reinforced focus
by the IRB on TP and it is expected that there will be a
significant increase in TP audits going forward. With these
changes, it is important that businesses review their operational
structures and intercompany arrangements to ensure full
compliance with the existing tax law in Malaysia in order to
avoid punitive actions by the IRB.
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Events - 15 09 2020
IRB’S INQUIRY-AUTOMATIC EXCHANGE OF INFORMATION (AEOI)
Events - 13 08 2020
TAX SAVING STRATEGIES DURING COVID-19