Malaysia introduces Tax Corporate Governance Framework

  

The framework provides IRBM´s expectation on applying Tax Corporate Governance with the principles of a good Tax Corporate Governance:  

  

This framework is suitable for all sizes of business, especially businesses that prioritized corporate governance matters. By having such framework, organizations may benefit from better tax risk management, protect their reputation and reduce penalty due to non-compliance.

  

The tax control framework provides a system to identify, overcome, control and report any tax risks. Each organization will have a different framework depending on the indidvidual business nature. Below please find the key elements of the tax control framework:

  

The MIRB will conduct reviews for participating organization. Organizations that passed the review will qualify for the benefits of the program, and the organization will not be subject to audit or investigation.