Q:
Is the annual tax filing fee tax deductible?
A:
Effective from Year of Assessment (YA) 2020, the tax filing fee combined with the company secretarial fee are eligible for tax deduction of up to RM15,000 for each YA if the expenses are incurred and paid during the basis period.
Q:
Are the professional fees charged by tax agent on tax audit consultation and preparation of transfer pricing documents tax deductible?
A:
They are not tax deductible because they are not classified as tax filing fees.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!
P.P.S. If you're liking these little tips, you can't imagine how much you'll get out of my FREE Tax Livestream! Learn more here: https://bit.ly/zen-taxlive