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Special Voluntary Disclosure and Managing Income Tax Risks

A Detailed Discussion on the Income Tax Amnesty and Tax Audits

Expert Speaker Vincent Josef

MYR901.00 (including SST)


EARLY BIRD SPECIAL:  Enjoy 10% Savings if you Register by 11 January 2019 Use code 17JAN at checkout.


During the presentation of Budget 2019, the Minister of Finance mentioned a Special Voluntary Declaration Programme for those who may not have properly complied with the requirements of the Income Tax Act or had failed to fully declare their income. They may now wish to enjoy the concessions offered by the Inland Revenue Board and avoid the stringent penalties that would arise after the Amnesty Period. This is most welcome for companies, professionals, partnerships and in fact all taxpayers.

Wolters Kluwer Executive Events presents a one-day workshop on managing this special voluntary disclosure offer and related income tax investigation risks. This training will enable participants to prepare and submit their income tax disclosure accurately and avoid any pitfalls and errors. 

Participants will also be guided through the measures taken by Inland Revenue when executing any tax audit and investigation exercise.  This would include computations and cases studies.

Highlights of Budget 2019 (Finance Bill 2018) will also be examined.

What You Will Learn

At the end of the workshop, you will:

  • Understand what exactly the Special Voluntary Declaration Programme entails and its benefits
  • Learn how to comply with the requirements of the SVDP with regard to the forms or documents that need to be submitted
  • Be aware of the possible consequences of not accepting this special offer
  • Know more about how the Tax Authorities carry out their tax audit and investigation operations including Capital Statements
  • Have a good idea of the various amendments that would be implemented following Finance Bill 2018

Who Should Attend

This workshop is suitable for:

  • Senior Company officials
  • Finance and Accounts Directors
  • Professionals and “High Income Earners”
  • Auditors, Company Secretaries, and Accountants
  • Tax Agents and Tax Advisors

Programme Outline

  1. Amnesty Programme
    • Eligibility
      • Individuals, Companies, Partnerships and Limited Liability Partnerships
    • What constitutes Failure to Comply and Omitted Income
    • Two Amnesty Periods – What do these period represent
      • Ending on 31st March 2019
      • Ending on 30 June 2019
    • How the Reduced Penalties of 10% or 15% would be computed
    • Post Amnesty impacts and penalties – up to 300%.  What does this mean?
    • Other Enforcement Measures by Inland Revenue Board
      • Unexplained Extraordinary Wealth
      • Means Test
    • Relevant conditions of acceptance, forms, statements and process to accept Amnesty
  2. Mitigating risks from tax audits and investigation
    • Avoiding Pitfalls and Errors
    • Trigger Factors for Selection by Inland Revenue
    • Issues that would be examined – Return Forms, Accounts, Bank Statements, and Documents
    • Means Test/Capital Statements and the acquisition of inordinate assets
    • Computations that Revenue would prepare
    • The supporting documents that taxpayers should have
    • Making an Effective Appeal , Computations that should be submitted
    • Settling the Additional Assessments and Penalties imposed by Revenue

Expert Speaker

Vincent Josef began his career with the Inland Revenue Board in 1968 and over the next 35 years, he served in various Branches, earning himself a wide command of the numerous demands of Malaysian taxation. Prior to his retirement in 2003, he was with the Operations Division of the Board Headquarters where he held the position of Assistant Director General. With his 47-year presence in taxation, Vincent Josef manages his own practice providing taxation consultancy services on Tax Audits and Investigation matters and “Problem Resolution”. He recently wrote a book “Tax Audit and Investigation Guide – Malaysia” published by Wolters Kluwer and also serves as a Consultant Editor for the Malaysian Master Tax Guide series

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