Malaysia: Updated tax audit frameworks

Updated tax audit frameworks, effective 1 May 2022

Updated tax audit frameworks, effective 1 May 2022

The Malaysian Inland Revenue Board (MIRB) issued the following updated tax audit frameworks, effective beginning 1 May 2022:

  • Tax audit framework that replaces the tax audit framework dated 15 December 2019
  • Tax audit framework finance and insurance that replaces the tax audit framework finance and insurance dated 18 November 2020
  • Tax audit framework petroleum that replaces the tax audit framework petroleum dated 15 December 2019

These frameworks include these significant updates:

  • Voluntary disclosure is only offered to taxpayers who submit their income tax return form
  • Updated tax penalty rates and guidelines are provided

Read a May 2022 report prepared by the KPMG member firm in Malaysia 

 

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