Preparing and filing income tax in Malaysia can be a challenging and anxiety-inducing experience every year. Your business liquidity very much affected by your tax expert advising and implementation since the beginning. In the complex tax environment, a communicable and relevant expert on tax compliance shall perform your business health check periodically, treated you as partner growing together instead of acted solely as your compliance officer. Tax expert will go along with your wealth planning overall measuring your business and personal earnings and commitment comprehensively that justifying your determination in corporate social responsibility.
Furtherance, tax planning in business undertakes to diminish or control tax liability through the use of all available allowances, deductions, exemptions, etc and to reduce income and/or capital gains thus improved the overall business liquidity. In short, the tax expert will be able to maximise on the tax incentives available in the business and get the tax savings you are eligible for if proper communication and planning are in place.
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Wezmart Consulting (KL) Sdn. Bhd. (1106629-V)
Our scope of tax service includes comprehensive administration tax return coverage from preparing and submission for individual to corporate entity. Our team of professionals which possess a thorough understanding of clients' business and well versed of the industry regulations and its implication. We offer range of tax services depending clients' needs. These shall includes: -
TAX ADMINISTRATION COMPLIANCE
We offer all aspects of tax regulatory compliance services to clients from Self-Individual to Corporate reporting and tax filing obligations under the Income Tax 1967.
CORPORATE TAX / FINANCIAL PLANNING ADVISORY
Tax planning is the process of looking at the available tax options in order to determine how the Company can conduct the business transactions so that taxes are eliminated or reduced. Tax planning is undertaken to diminish tax liability through the use of all available allowances, deductions, exemptions, etc and to reduce income and/or capital gains.
"... but there is nothing wrong at all for a company to organise the affairs in such a legal way as to minimise tax" in DGIR v Rakyat Berjaya Sdn Bhd, Lee Hun Hoe CJ (Borneo
TAX AUDIT & INVESTIGATION
Tax audit is a process of checking business operator by examining their income reported earlier against the business records available which must comply with the tax law of Malaysia. In general, there are two types of audit namely
Desk Audit and Field Audit. Checking on all information concerning incomes and expenses or appropriate claims declared during the financial year and adjustment of tax will be made if the amount declared is lower due to the mistake or tax evasion will then to bear heavier penalty on the later stage after audit.
We will notify client accordingly the entire tax audit procedure started from interview until fact findings. Our tax expert enables to ascertain issues on tax finding with several negotiations held with the officer, aim to minimise or lowering the risk possible. Our approach, we advise system administration flow, accounting records and documents filing compliance plays an important part in the entire tax audit process to proof the business earnings and transactional matters.
With the assist of big data since 2018, Inland Revenue Board of Malaysia carrying duty more efficient and time saving, and much easier to track tax faulty conveniently and effectively.
Tax Investigation usually happen when tax audit performed on the third party required further cross-checking once received the evidence of tax evasion or suspicious of accounting records and declaration of incomes. Another possibility tax audit performed on tax payer where tax payer did not provide full cooperation within the timeframe of audit allowed resulted further action taken for tax investigation.
We will cooperate with relevant parties ensuring tax investigation is fully supported as tax expert by explaining to client the entire process. Our ability to react at the right time and communicate with the people by minimise to the lowest possible risk.