Hey SMEs, the CIA is coming for you!
Tan Sri Mohd Shukor Mahfar, YYC Tax Consultants
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While we all realise that taxation is essential for nation building, it is not exactly something we look forward to every year even though we know that declaring your taxable income, individually or as a company is for the greater good of the country. This is why some companies lie low, hoping to fly below the tax authority's radar despite the establishment of the Collection Intelligence Arrangement (CIA) last year. But you know what they say about death and taxes! We speak to Tan Sri Mohd Shukor Mahfar who warns SMEs about the impending visit by the taxman, and what you can do when he comes a knocking.
Produced by: Audrey Raj
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Tags: finance management, finance, tax defaulters, CIA, SME, collection intelligence arrangement, IRB, inland revenue board, investigations, tax audits, taxation