RESOLVED TAX CASES WITHOUT GOING TO COURT

Dato’ Razak has 39 years of experience in a big four international audit firm before opening his own audit firm in 1992.

He saw a niche in having both the knowledge of a Tax Agent and a Tax Lawyer.

So at the age of 60 he attended Law School and now posses a Legal Degree so that he can help his clients not only with his experience as a practising Tax Agent, but also with his Tax Law knowledge.

This way he hope to help reduced his clients tax raised by the tax authorities without having to go to court.  

RM320 MILLION ALLEGED UNDERDECLARED PROFITS SUCCESSFULLY RESOLVED WITHOUT GOING TO COURT

ISSUE

A corporate client was subjected to a tax review involving allegations of underdeclared profits exceeding RM320 million. The Years of Assessments were YA 2017, 2018 and 2019. As time had passed a lot of documents were not available to support to the tax authorities and the tax authorities increased the income declared and disallowed a lot of expenses. This was due to the fact that very minimal and limited accounting records and supporting documents were available.

LAWS

. International Law to capture the attention of the authorities

. Income Tax Act

. Limitation Act

. Evidence Act to support the lack of documentation available 

APPLICATION

The above Laws were applied to the issue at hand this engagement covered the following technical expertise: –

1. Application of the above laws to the issue at hand

2. Bookkeeping expertise

3. Audit knowledge

4. Tax computation (calculation)

Our case studies demonstrate selected engagements handled by Dato’ Razak and the team at A. Razak & Co. PLT. Every matter is unique and outcomes depend on the specific facts, documentation, applicable laws, and circumstances of each case. Past results do not guarantee future outcomes.

CONCLUSION

The alleged underdeclared profits of RM320 million were successfully defended and the proposed tax adjustment was ultimately reduced to RM Nil.