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Understanding IRB Tax Audits in Malaysia
Here are the top five common questions Malaysian taxpayers often ask about the Inland Revenue Board (IRB) tax audits: 1. Why am I being audited?2. What happens if discrepancies are found during the audit?3. What documents should I prepare for a tax audit?4. What issues does the IRB typically focus on in a tax audit?5.…
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Office Politic Woe
Last week, I met with my former hashtag#ktp manager, who now works for a larger company. I asked her about her experiences over the past two years. She shared a lot about office politics. She explained that in the same division, different bosses compete for the same clients. It’s the same with managers. This competition…
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(Tax Update) Complying with IRB Requests for Tax Information and Documents in Malaysia
When you receive a notice under Section 81 of the Income Tax Act 1967 from Malaysia’s Inland Revenue Board (IRB), it’s important to respond with the required tax information within 30 days. Ignoring such requests can have serious consequences. These requests are part of ensuring tax compliance and can involve submitting documents like income statements…
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Tennis day
Hey everyone! 🎾 Today was a first for me—I played at the Nusa Duta Tennis Complex’s indoor court because of the rain. I usually hit the courts at Palm Resort at 8 AM, but today was a little different. A little trip down memory lane: I picked up tennis in my early twenties, and that…
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ChatGPT Prompt for Analysis Account
Years ago, analyzing financial reports in the planning, during and after audit took a lot of time and effort. Now, it can be done quickly using in ChatGPT with following prompt: “I am an experienced auditor specializing in analyzing company financial reports, especially the details about spending and profit and loss (P&L) statements. I want…
