Self-Rescue: How To Manage Tax Audit and Tax Investigation Risks (Exclusive for Cheng & Co Client)


How to Manage Tax Audit and Tax Investigation Risks

Attend this webinar and learn to avoid RM20,000 – RM100,000 penalty or imprisonment up to 6 months.

Due to the projected recovering economy and business prospects in 2021, the government has projected a higher tax collection to contribute to government revenue, which is anticipated to increase by 13.8% to RM174.4 billion in 2021. The government will increase effort in reducing tax gap, enhancing tax compliance, and strengthening enforcement of the tax legislation. Hence, we expect that more companies will become the target of LHDN for tax investigation.

Who Should Join? Who is at risk of IRB scrutiny?

SMEs who runs extra risk of an audit if one or more of the following situations applies:

  • Repeated low margins or losses
  • Many high value transactions
  • Large deviations in profit and loss histories
  • Reporting a low EBIT compared to the industry’s average
  • Reporting a low EBIT compared to comparable enterprises
  • With controlled transactions or transaction between related parties

What You’ll Gain

TIPS #1 Tax-payers’ Rights and Remedies in Handling Tax Audit and Tax Investigation

  • Learn how to avoid the common mistakes in tax filing
  • Prepare yourself when you get your income tax audited 
  • Understand personal capital statement and how it helps in tax investigation 

TIPS #2 What SMEs need to know about Transfer Pricing Documentation

  • Learn about transfer pricing in Malaysia and penalty for failure to comply
  • Identify whether you are at risk of transfer pricing scrutiny
  • Know how to make sure your transfer pricing policy is compliant with regulations 


Executive leadership Lam Kwai Soon

Lam Kwai Soon

Managing Director of Tax

Lam Kwai Soon is an expert in tax with over 20 years’ experience. As Cheng & Co Group’s Tax Managing Director, Mr. Lam leads the team to advise businesses on transfer pricing, tax planning for organization restructuring, tax incentives, and mergers and acquisitions. He is also actively involved in tax audit and tax investigation advisory cases.

Lam Kwai Soon started his career in Ipoh as an auditor. Later, he found passion in tax and joined a tax advisory company founded by a former tax investigation senior officer, the late Mr. Lee Yat Kong. Mr. Lam joined Cheng & Co Group in 2004.

Lam Kwai Soon is a member of ACCA, the Malaysian Institute of Accountants (MIA), the Chartered Tax Institute of Malaysia (CTIM), and Certified Financial Planner (CFP). He is also an approved GST agent by the Royal Malaysian Customs Department. He led the GST advisory team to assist businesses, especially SMEs, in implementing GST. He has conducted more than 200 internal and external GST training for businesses. You can learn more about Lam Kwai Soon at

KNOW-HOW-TO-SELF-RESCUE from Cheng & Co Taxation Team by joining the webinar on:






20th January 2021

10am – 12pm

Online Zoom


Lam Kwai Soon

22nd January 2021

10am – 12pm

Online Zoom


Lam Kwai Soon

Register Now

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