Intricacies during tax audits and investigation
REHDA – 21 July 2021 (Wednesday)
TIME: 9.30am to 11.30am (including 45mins Q&A)
- Outline of the tax audit/investigation process – selected audits vs general audits
- Request for information – what should be provided?
- Liaisons with the IRB – Which method of communications is best? / When should you follow up?
- Tax issues – Common issues which are scrutinised by the IRB
- Method of calculating profits recognition (cost / progress billing / build-then-sell)
- Deductibility of expenditure
- Developments with multiple phases / Mixed developments (allocation of costs)
- Disposal / Purchase price of land for development (Whether it is at market value)
- Disposal of land between related companies (RPGT or ITA)
- Date of completion of project (CCC vs CPC vs VP)
- Closure of audit – How to settle (reduction or waiver in penalties/instalment payments)
- Further appeals process (Dispute Resolution Panel / Special Commissioner of Income Tax)
- Q&A Session
Speakers: SM Thanneermalai
STAY TUNED FOR MORE INFORMATION!