Form CP58: What You Need To Know About Commission Statement
The CP 58 tax compliance can be a complex task for business owners. In Malaysia, one such complexity lies in properly filing Form CP58 and the e-Invoice.
New to Synergy TAS ?
Compulsory Transfer Pricing Documentation 
? 2021 is finally here, this new rule starts 1 Jan 2021. Transfer Pricing documentation is not new in Malaysia. But “Compulsory” is a new addition. What is so significant about this? Well in your tax return for, IRB wants you to tick whether you prepare the documentation or not.Â
As usual, those who don’t got a high chance to get a visit from tax audit team. Not something we all want to add into our already busy work calendar in 2021. If you are new to Transfer Pricing, talk to a qualified tax adviser on this. Access whether you need to prepare the documentation, and how much they will charge for it. The average fee we hear for simplified TP documentation is RM3k 
and above. Negotiate, negotiate if you must for a good price.
IRB did not publish guideline in 2020. The latest would be 2019, here’s the reference material you can use to understand how TP works.
Transfer Pricing Audit Framework 2019
Transfer Pricing Rules 2012
Transfer Pricing Guideline 2012
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email
Tan Lee Ling
Tax Consultant by training in the Big Four and trained several years with Dr Choong. Being a Chartered Accountant with a law degree. Specialised in compliance, tax planning and tax investigation in her early years. Being in tax for 12 years, to her Tax is like a tree, it is the life force for the country, tax is dynamic, continuously changing and growing. Lee Ling is the conduit in charge of not just sharing these tax changes, also to bring Dr Choong's brilliant tax planning to the tax professionals and business community.
Related Posts
THE COLOURS AND COMMUNAL BOND OF HARI RAYA: A PERSONAL REFLECTION
The Colours and Communal Bond of Hari Raya: A Personal Reflection Hari Raya Aidilfitri, the dazzling culmination of Ramadan’s month-long of Puasa and reflection, resonates with a depth of tradition and heartwarming customs. Beyond its religious reverence, this celebration is a vibrant pageant of cultural heritage and communal bonds, weaving together a tapestry enriched with shared
You need to know MSIC CODE: Here’s A Comprehensive Guide
Delve into the essentials of MSIC codes with our comprehensive guide. Learn how industry classification codes play a pivotal role in standardizing business classification for robust economic analysis and policy-making in Malaysia.
Reliable ESG Committee agrees: they need these
Understanding ESG Committees At its core, an ESG committee is tasked with oversight, guidance, and strategic integration of sustainability efforts across the organisation. They’re at the helm, transforming ESG concepts into actionable initiatives. The benefits? Enhanced risk management, improved regulatory compliance, and ultimately, a solid reputation bolstered by responsible corporate citizenship. However, have you wondered
What you need to know about: IRB and their Industry 4.0
Industry 4.0 is the backbone of a leaner, meaner, more resilient corporation—one that is tax-savvy to the bone. What does this mean in the context of IRB?