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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