KTP & Company PLT

Recently, a client approached us with a confident statement, saying, “We can settle with the income tax people when they come.”

It was a statement filled with assurance, as if tax audits were merely a casual negotiation at the pasar malam.

At KTP, however, we know better.

Many think tax compliance is negotiable—a friendly chat over coffee with tax officers.

But that’s a dangerous myth.

In our line of work, there’s no such thing as “settling” or “gaoding” when it comes to tax compliance. It’s not just about smoothing things over; it’s about being fully transparent and accurate in our financial disclosures.

When things go wrong in a tax audit, the blame game begins. And guess who’s often in the firing line?

The tax professionals.

Despite our efforts to provide accurate advice, maintain thorough documentation, and ensure every decision is signed, understood, and agreed upon by our clients, the narrative can quickly change.

We’ve seen it happen: the moment the tax authorities raise an issue, the same clients who nodded in agreement during our meetings suddenly shout, scold, and even threaten to terminate our services.

It’s as if all the emails, documents, and signatures showing their agreement never existed.

At KTP, we believe in doing things by the book. We prepare diligently, anticipate potential issues, and ensure our clients are well-informed of every step.

But there’s a critical caveat: compliance isn’t a one-way street.

It requires both the client’s cooperation and a mutual understanding that the rules aren’t bendable, nor are they up for negotiation.

The reality is, when the tax authorities come knocking, they’re not interested in casual settlements. They’re looking for concrete evidence of compliance and proper conduct.

And that’s where we come in—not to “settle,” but to stand firm on transparency, accuracy, and full compliance.

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I’m Koh Teck Peng

Welcome to my blog, I’m the founder and principal of KTP & Company PLT. My journey in the accounting profession has been driven by a passion for numbers and a dedication to helping businesses succeed. With over 25 years of experience, I’ve had the privilege of working with a wide range of clients, from small startups to large corporations, providing them with the financial insight and strategic guidance they need to thrive.

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