Spotlight on Malaysian Tax Disputes

Description

Taxation is an important consideration on the business landscape. A good knowledge of tax regulations and requirements and proper compliance with them can safeguard the tax exposure of businesses. Malaysian taxation is multi-faceted, involving many different types of taxes whether direct or indirect in nature.

Finance managers, accountants and anyone else responsible for the tax affairs of a business need to keep abreast with the ever-changing requirements of tax laws and the practice of the Inland Revenue Board (IRB). Tracking the decisions of the Special Commissioners of Income Tax, the Customs Appeal Tribunal and the courts surely provides a good focus on the resolution of tax disputes and the lessons therefrom.

This book surveys recent significant decisions on matters like income tax, stamp duty, real property gains tax (RPGT), customs and excise duties, sales and service tax, and anti-dumping duty as well as the active use of judicial review to challenge the actions and decisions of the IRB. In addition to a useful overview of the taxation system in Malaysia, the book presents 22 insightful articles which discuss and critically analyse the carefully curated court cases. These analyses provide a comprehensive understanding of the current tax issues and the evolving tax landscape in Malaysia.

Spotlight on Malaysian Tax Disputes provides valuable and instructive knowledge on notable tax disputes which have been litigated and decided in recent years.

Key features

• Carefully selected cases which represent key developments in Malaysian revenue law.
• Succinct summary of arguments at each level to facilitate easy understanding of the issues and the final decisions.
• Useful cross-references to related decisions.
• Wide spectrum of coverage.
• Insightful discussion and commentary by experienced tax advocates.
• Explanation of core concepts to aid appreciation of decision.
• Focus on IRB practices which are open to challenge.
   

Tax issues covered include

• Effect of Public Rulings
• Transfer pricing adjustments
• Difference between penalties imposed under section 112(3) and section 113(2) of the Income Tax Act (ITA)
• Circumstances which allow the raising of assessment past the statutory time bar
• Deductibility of employee share option scheme expenditure
• Challenge against IRB’s refusal to refund taxes
• Chargeability of real estate investment trust to RPGT
• Tax treatment of gains from disposal of real property via joint venture agreement or during liquidation
• Taxability of compensation for compulsory acquisition
• Precedence between double taxation agreements and the ITA
• Deductibility of Bumiputera quota release expenditure
• Retrospective uplifting of open market excise value
• Availability of exceptional input tax claim
• Legal challenges in anti-dumping investigations