STAY COMPLIANT & AVOID PENALTIESNavigate Malaysia's 2023 Transfer Pricing Regulations With Experts!
Act now to ensure your company is aligned with 2023 Transfer Pricing Guidelines. From annual documentation updates to timely submissions, ensure seamless compliance and protect your business from hefty penalties.
Don't risk non-compliance; let our experts guide you through Malaysia’s intricate transfer pricing landscape.
Don't risk non-compliance; let our experts guide you through Malaysia’s intricate transfer pricing landscape.
What is Transfer Pricing?
Transfer Pricing (TP) is an intercompany pricing arrangement for the transfer of goods, services and intangibles between associated persons.
Are You Prepared for Transfer Pricing Audit?
Effective from Jan 1, 2021, IRB requires TP documentation to be submitted within 14 days upon request. Failure to do so may lead to a fine between RM20,000 to RM100,00 or prison term up to 6 months or both.
CLIENT FOCUSED, RESULT DRIVEN
Our Full Range of
Transfer Pricing Services
We offer a wide range of transfer pricing services. Our experienced tax consultants will ensure that you will receive the best possible support in sorting out your transfer pricing needs.
Compliance to LHDN TP Doc Requirements
- Interviews and Questionnaires
- Economic and Industry Analysis
- Functional and Risk Analysis
- Transfer Pricing Methodology Analysis
- Comparability / Benchmarking Analysis
- Special Transaction Analysis
Inter Company Agreements
- Scope of work (Trade / Non Trade)
- Establishing an acceptable formula (Based on LHDN Requirement)
- Transfer Pricing Clauses
- Ensure compliance to Malaysian Jurisdiction laws
TP Policy Making
- Scope of work (Trade / Non Trade)
- Establishing an acceptable formula (Based on LHDN Requirement)
- Transfer Pricing Clauses
- Ensure compliance to Malaysian Jurisdiction laws
TP Documentation Reviews
We are able to review your existing TP documentation to check whether it is compliant to the Malaysian TP guidelines or the respective Countries TP laws and OECD guidelines.
TP Ownership Structural Reviews
Before entering into a merger or business venture, there maybe a need for a JV or incorporation of a new company. We can help with the setup and planning of your corporate structure and inter company transactions.
TP Benchmarking Studies
Conducting Benchmarking Studies requires a big pool of data to ascertain a reliable and accurate outcome. Our clients request for us to do benchmarking studies to understand market pricing better and it is a big part of a compliant Transfer Pricing Documentation.
TP Advisory and Consultation
Clear and practical consultations are critical as transfer pricing provides significant opportunities for SMEs and MNEs to ensure close alignment with business and commercial strategies.
TP Training
Our training enable participants to gain an in-depth understanding of Malaysian transfer pricing guidelines, issues and solutions to manage them.
Transfer Pricing (TP) Documentation
We prepare TP Documentation that is compliant to Malaysian Inland Revenue Board and the respective Countries Tax Jurisdiction.
TRANSFER PRICING TRAINING PROGRAMME
Avoid Transfer Pricing Mistakes
With a focus on the Malaysian Transfer Pricing Guidelines, the program addresses the importance of transfer pricing, the legal framework, and the practical application of the arm’s length principle by way of comparability analysis (Benchmarking studies) and the user of transfer pricing methodologies. In addition, steps to establish proper transfer pricing documentation and avoidance mechanisms would be covered.
You will gain a good understanding of transfer pricing principles, an in-depth understanding of transfer pricing issues, and learn how to manage them.
KEY CHANGES YOU NEED TO KNOW
2023 Transfer Pricing Guidelines in Malaysia
Malaysia’s “Income Tax (Transfer Pricing) Rules 2023” rolled out on May 29, 2023, ushering in significant changes:
- Annual Documentation: Prepare transfer pricing documents before tax returns.
- Quick Submission: Present documents within 14 days if the IRBM requests.
- Penalties: Non-compliance can lead to RM20,000 to RM100,000 fines per YA.
- Disclosure & Data: New requirements for large corporations and updated data usage protocols.
- Arm’s Length Principle: Companies must justify methods and be wary of a narrowed range for compliance.
Stay compliant and navigate these changes with ease. Explore our detailed guide.
MORE THAN JUST BUSINESS
Great Clients
Awesome Reviews
Desmond Anil is our Company Secretary from Hernacres Services Sdn Bhd. We met some foreign clients together who was wanting to setup businesses in Malaysia. Desmond is professional in handling the clients, addressing any company secretarial and business expansion issues that the clients may have. Desmond is passionate about educating people in the right direction. That makes him a different Company Secretary. So, if you know of locals or foreigners who are looking to incorporate Company in Malaysia, I would strongly recommend Desmond. Â
MS VIVIEN KEU
Managing Director
Keu Consulting
I engaged Desmond to help me to apply for my company e-Perolehan certification. Desmond and his team planned with my staff , educated my staff and ready all the necessary documentation for submission. Because of his attention to details, submission was smooth sailing and in less than a week, Vision One was awarded our e-Perolehan certificate which enable us to participate in government’s tender process. A big thank you to Desmond and his team on a job well done
MR SPENCER WEE
Managing Director
Vision-One Multimedia Sdn Bhd
Engtex and Hernancres share a long standing relationship thanks to the various business support and the tutelage of Desmond and his team.
MR KHOO
CEO
Engtex Group of Companies
I recall a very shaky moment in our firm in the year 2017. Desmond managed to execute a planned corporate restructuring exercise that resulted in significant upward trend for our firm as a whole.
MR ALVIN
CFO
Thong Guan Group of Companies
I was recommended by a friend to Desmond to setup my company. When I contacted Desmond he as very thorough and specific in his approach in setting up my company within a week he setup my company with a bank account and I was ready to sign contacts. It is because of his swift action in setting up my company with a bank account that allowed me to secure 3 contracts in a course of 2 weeks. I would definitely recommend Desmond as I would say that Desmond and Hernancres are truly one and a whole unit. Thanks to all in Hernancres.
RUBEN N. THANAPALASINGAM
CEO
Ample Services Sdn Bhd
Focus on What’s ImportantLet’s talk about improving your transfer pricing submissions
Are you worried about a possible audit from the IRB or a collective action being taken against you? Don’t wait until it’s too late. The experts at HernanCres are here to assist you with all of your transfer pricing needs. TP documentation can be stressful and confusing, but our consultants can make it easy.
HERNANCRESAbout Us
HernanCres provides a number of services in consultancy, tax and advisory. Whether you require an on-going solution or temporary project-based support you can expect excellent service from our team which draws on both international experience and local expertise.
OUR LOCATIONWhere to Find Us?
27-1, Metro Perdana Barat 2,
Taman Usahawan,
52100, Kuala Lumpur.
GET IN TOUCH
OUR SERVICESWhat We Offer
ASSOCIATED WITHWe Are Recognised By
HERNANCRESAbout Us
HernanCres provides a number of services in consultancy, tax and advisory. Whether you require an on-going solution or temporary project-based support you can expect excellent service from our team which draws on both international experience and local expertise.
OUR LOCATIONWhere to find us?
27-1, Metro Perdana Barat 2,
Taman Usahawan,
52100, Kuala Lumpur.
GET IN TOUCHHernancres Social links
ASSOCIATED WITHWe Are Recognised By
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