Transfer Pricing: Understanding the Big Changes for This Year’s Tax Season and Beyond

Harvindar Singh, Managing Partner, Harvey & Associates

28-Feb-24 11:00

Transfer Pricing: Understanding the Big Changes for This Year’s Tax Season and Beyond

Pause
Embed

Transfer Pricing Is Going To Get Harder, But There’s No Running Away.

Transfer pricing is something else in the tax space that businesses need to keep in mind, especially with changes made in May last year when the Inland Revenue Board of Malaysia (IRBM) published the Income Tax (Transfer Pricing) Rules 2023 (TPR 2023), which is supposed to be operative from assessment year 2023 and onward.

These changes have signify a notable shift in the LHDN’s approach to transfer pricing compliance, so with the tax season incoming, we dive into this to help you better understand what transfer pricing is and what the new changes mean for businesses for this year’s tax season with: Harvindar Singh, Managing Partner of Harvey & Associates, and Council Member with the Chartered Tax Institute of Malaysia (CTIM).

Produced by: Kishan Sivaswamy

Presented by: Roshan Kanesan

This and more than 60,000 other podcasts in your hand. Download the all new BFM mobile app.

Categories: markets, Corporates, managing, economy

Tags: transfer pricing, business, tax,

Today’s Shows

6:00 AM

The 6AM Stretch

Thought-provoking discussions on ideas, people and events shaping our lives.

7:00 AM

World Market Watch

Vishnu Varathan, Head of Economics & Strategy, Mizuho Bank tells us where international markets are heading.

7:15 AM

Morning Brief

We recap global and local headlines from today's papers and portals.

7:30 AM

Morning Brief

Christopher Wong, FX Strategist, OCBC Bank gives us an outlook for Asia FX.

7:45 AM

Morning Brief

Dr. Deborah Elms, Head of Trade Policy at the Hinrich Foundation explains the impact of the Supreme Court delaying its ruling on Trump’s tariffs and the resulting US-EU trade tensions.

8:00 AM

The Breakfast Grille

Edison Kong, Managing Director of Solar District Cooling Group Berhad, reflects on the company’s first year as a listed entity and its shift toward long-term recurring energy solutions.

8:30 AM

Morning Brief

Professor Dr Joanne Lim, Dean of the Faculty of Arts and Social Sciences at the University of Nottingham Malaysia, examines why a Freedom of Information Act matters and what meaningful transparency could look like at the federal level.

8:45 AM

Morning Brief

Dr. Renard Siew, Climate Change and Sustainability expert, discusses implications of the proposed national climate change bill.

9:00 AM

Opening Bell

(REPEAT) Vishnu Varathan, Head of Economics & Strategy, Mizuho Bank tells us where international markets are heading.

9:15 AM

Opening Bell

(REPEAT) Christopher Wong, FX Strategist, OCBC Bank gives us an outlook for Asia FX.

9:35 AM

Ringgit & Sense

Rajen Devadason, licensed financial planner talks about EPF's Retirement Income Adequacy framework.

10:05 AM

Open For Business

11:00 AM

Tech Talk

Quantum risk is no longer theoretical. As quantum computing threatens today’s encryption, banks and governments face urgent decisions. Wo Swee Teck, Managing Director of Securemetric Technology, discusses why PQC matters now, what NACSA’s directive means for Malaysia, and how organisations can move from legacy encryption to quantum-safe security.

12:00 PM

Enterprise Explores

Divided ASEAN Falls? Dr. Stewart Nixon, Director of Research at IDEAS, unpacks “ASEAN's Response to Trump's Illiberal Trade Agenda” and its implications.

1:00 PM

The Breakfast Grille Repeat

Edison Kong, Managing Director of Solar District Cooling Group Berhad, reflects on the company’s first year as a listed entity and its shift toward long-term recurring energy solutions.

2:05 PM

Discovery Hour

An eclectic selection of BBC shows, curated with variety in mind.

3:05 PM

Beyond the Ballot Box

Jason Wee, who’s the founder of Architects of Diversity, joins us in conversation about navigating an increasingly polarised Malaysia.

4:05 PM

Health & Living

A U.S.-Malaysia trade deal signed last year dictates that medical devices and pharmaceuticals from the U.S. no longer need local approval in Malaysia. We speak to an expert about what this means for us.

5:00 PM

Top 5 at 5

A countdown of the 5 biggest stories of the day, to catch you up on all you need to know!

6:00 PM

Talkback Thursday

Do you give tips? When do you do it, and how much?

PROGRAMMES