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The comprehensive guide to the world's leading tax firms

Deloitte has one of the largest tax teams in the country with more than 280 professionals. Yee Wing Peng is the country tax leader and the team is also managed by 13 other partners. The large group offers all the usual tax related services that are usual ... [more]

Deloitte has one of the largest tax teams in the country with more than 280 professionals. Yee Wing Peng is the country tax leader and the team is also managed by 13 other partners. The large group offers all the usual tax related services that are usual for a big-four firm, though their transfer pricing department is perhaps the best known in the market.

The highly praised Theresa Goh is the leader of the transfer pricing practice. Many agree that the transfer pricing team of 20 is very strong and that all are well versed in applying for and negotiating advanced pricing agreements (APA). A client describes Goh and her team as "very fast in their reply and because we need to deal with the government, I am very satisfied with them. They get things done on time".

Goh and Lim Pheak Buen advised a global specialty chemicals company in using APA as a tool to provide certainty between their client and tax authorities to prevent a potential transfer pricing audit and dispute before restructuring. The difficulty for the team was to convince the tax authorities to accept their application though projected future profits of the company were expected to decrease.

Yee Wing Peng and Julie Tan helped their client, a leading Japanese multinational corporation (MNC) in the industrial sector, to save more than $50 million of withholding tax and corporate tax. The duo were advising the client on general tax matters until they spotted that their existing structure would have exposed them to a significant amount of tax that wasn't deductible. The team proceeded to mitigate this exposure by carrying out restructuring work in addition to obtaining a private ruling to give the client certainty.

Yeo Eng Ping remains as Ernst & Young's tax practice leader. The extensive regional network allows the team to collect knowledge, skills and experience of tax professionals in other global practices, and mobilise teams at short notice to deliver quality ... [more]

Yeo Eng Ping remains as Ernst & Young's tax practice leader. The extensive regional network allows the team to collect knowledge, skills and experience of tax professionals in other global practices, and mobilise teams at short notice to deliver quality client service.

The team has dedicated tax specialists who focus on a range of services such as incentives, transactions, capital allowances, tax audits and tax rulings. Bernard Yap is one team member who is applauded for his corporate tax expertise and knowledge of the financial services market.

The transfer pricing team is one of the largest in this area. They covers all aspects of transfer pricing including outbound and inbound business restructuring, planning, risk review, documentation and controversy management. Peers commend Sockalingam Murugesan for his transfer pricing accomplishments.

The global services team is used to help clients manage their indirect tax matters from planning to implementation of indirect tax; this often involves advising on the most efficient indirect tax treatments of new and complex transactions to ensure compliance.

KPMG has 10 offices scattered around Malaysia. The tax practice, led by Khoo Chin Guan, has been actively engaged in a large amount of tax audit issues, regularly defending clients before the tax authorities.Guan and the group have witnessed a rise of ... [more]

KPMG has 10 offices scattered around Malaysia. The tax practice, led by Khoo Chin Guan, has been actively engaged in a large amount of tax audit issues, regularly defending clients before the tax authorities.

Guan and the group have witnessed a rise of transfer pricing audits, particularly because of the new mandatory documentation requirements imposed on taxpayers. Besides representing their clients in tax audit defence, they work to ensure that their clients are tax compliant to prevent future aggressive tax auditing. Bob Kee is the leader of the transfer pricing practice, which has seen rapid growth. Soh Lian Seng is one who is frequently occupied in tax dispute resolution on behalf of clients.

The highly regarded Leanne Koh is known among peers for her knowledge of capital markets and the financial services sector. Peggy Then is considered one of the better practitioners in Malaysia for her experience in corporate tax matters, in the past year she has been involved in a variety of M&A work.

Khoo Chuan Keat leads the highly respected tax team at PwC. A client notes the team's ability to carry out tax matters from a commercial perspective. There are more than 300 tax professionals under Khoo Chuan Keat's leadership, with 32 holding the position ... [more]

Khoo Chuan Keat leads the highly respected tax team at PwC. A client notes the team's ability to carry out tax matters from a commercial perspective. There are more than 300 tax professionals under Khoo Chuan Keat's leadership, with 32 holding the position of partner or director.

Their corporate tax and transfer pricing division comprises the largest part of the team. A majority of clients are in the top 20 companies listed on the Malaysian stock exchange as well as top MNCs.

The group has been undergoing internal restructuring over the past 12 months to refine their industry focus to cater to the economic sectors that are projected to drive the highest possible income for the country over the next 10 years. The industry focused team now heavily concentrates on financial services and business services, education, palm oil, communications, healthcare, consumer market, oil, gas and energy sectors.

With the proposed introduction of GST in Malaysia, the team has been engaged by an industry association to provide advice on the appropriate GST treatment for various technical and complex issues being faced by the industry. This involved the team in discussion with both the regulator and the authorities to finalise the GST treatments. Raja Kumaran in particular is known among peers for his knowledge on indirect tax matters.

Other work the team has been involved in the past 12 months includes advising on a proposed $120 million secured revolving credit facility. The deal concerned the setting-up of a special purpose vehicle to acquire the trade receivables of a major player in the retail industry in Malaysia. There is a lack of guidance provided by the Malaysian tax authorities in such situations concerning the divergence between the tax treatment and accounting treatment, consequently there could have been serious income tax issues for the client in implementing the financing arrangement. To pre-empt the potential adverse tax implications that could have arisen, the team assisted the client in obtaining an advance ruling from the Malaysian tax authorities.

As a full-service law firm with a discrete tax practice, Shearn Delamore & Co can offer clients the range of advice on direct and indirect tax, structuring, planning, litigation, audit and investigation matters. They are particularly well equipped to ... [more]

As a full-service law firm with a discrete tax practice, Shearn Delamore & Co can offer clients the range of advice on direct and indirect tax, structuring, planning, litigation, audit and investigation matters. They are particularly well equipped to advise the oil and gas, and financial services industries.

The team is led by Goh Ka Im, who is well known in the industry for the results she has achieved for clients in tax controversy matters. Sources allude to the fact that the tax practice's best attribute lies in defending their clients before the tax authorities. Anand Raj is a notable individual that has been singled out as one of the leading practitionersin this area.

Goh Ka Im and Foong Pui Chi advised a large MNC in a landmark case that was successfully appealed to the federal courts. The issue involved interpretation of regulations introduced as a result of Malaysia's WTO commitments. The issue was whether royalty paid could be considered a condition of sale for the goods to be exported to Malaysia for valuation purposes for customs duty. The team was able to argue successfully in favour of their clients, though the verdict in the appeal will not be out until the end of this year.

The two set a further precedent in the courts in their representation of Alcatel-Lucent where they successfully obtained a judgment to refund RM1.2 million ($384,252) in withholding tax. This was a landmark ruling because it involved novel application of sections 109 and 109B of the Income Tax Act 1967, as well as the definition of royalty in section 109.

The tax department at Taxand Malaysia is led by the experienced Veerinderjeet Singh, who is well known in the market for his knowledge of capital markets and financial services, in addition to his transfer pricing expertise.There is consensus among clients ... [more]

The tax department at Taxand Malaysia is led by the experienced Veerinderjeet Singh, who is well known in the market for his knowledge of capital markets and financial services, in addition to his transfer pricing expertise.

There is consensus among clients that choose this firm for their "industry specific knowledge and commercial knowledge, so far [they] have not failed us" said one client. Their local knowledge and expertise is a deciding factor for many foreign clients that need help to facilitate their local companies. One client said: "They call themselves a boutique, but are comparable to the big-four".

The group has been busy advising clients about the General Anti-avoidance Rules (GAAR) provisions and transfer pricing issues. Leow Mui Lee and Vivian New advised a major gaming and entertainment group in a review of their international sales and marketing structure. The review involved determining their regional entities located in Hong Kong, Singapore and Malaysia, and the contribution towards their development of intangible products, such as their brand. A residual profit split model was constructed to provide an arm's-length compensation to the relevant entities involved in the development of the brand through the marketing efforts.

The team also advised clients preparing for the imminent introduction of GST, which is planned to take effect next year. Renuka Bhupalan advised a large Malaysian healthcare service provider in assessing the impact GST may have on its business to ensure the organisation is GST compliant when it eventually comes into effect.

Adeline Wong is the only tax partner in the Wong & Partners tax department. She is supported by 10 other tax professionals. The team offers well rounded tax service, including advice on non-contentious tax matters and tax litigation. One rival said the ... [more]

Adeline Wong is the only tax partner in the Wong & Partners tax department. She is supported by 10 other tax professionals. The team offers well rounded tax service, including advice on non-contentious tax matters and tax litigation. One rival said the team has been growing stronger in the tax controversy area. "In the past they were quiet in tax litigation and were more on advisory side. But lately, they have been more active and won some cases."

The firm is part of the Baker & McKenzie network, giving them an extensive international outreach to support their MNC clients. Wong, Kae Jeen Wong, and Si Ying Kong represented Cardinal Health in landmark tax litigation that settled the question surrounding interpretation of source of income. The Court of Appeal held that interest income derived by a taxpayer from loans made to an offshore entity is foreign-sourced and therefore not subject to Malaysian income tax.

Wong, Yvonne Beh, and Jason Liang advised Paramit Corporation, a US manufacturer of medical instruments, in their acquisition of a Malaysian manufacturing company. The team advised their client on the post-acquisition tax issues including conducting a transfer pricing review of intercompany agreements. They are further assisting the client in negotiations for prepackaged tax incentives for the manufacture of medical technology in Malaysia.

The tax practice at Azman Davidson & Co occupies a niche tax litigation market. They represent their clients at all levels of tax disputes from the Special Commissioners of Income Tax and high courts to the Court of Appeal. The firm often receives referral ... [more]

The tax practice at Azman Davidson & Co occupies a niche tax litigation market. They represent their clients at all levels of tax disputes from the Special Commissioners of Income Tax and high courts to the Court of Appeal. The firm often receives referral work from the big-four accounting firms when legal representation is required in special tax matters.

Francis Tan and Dato Davidson are the key partners who oversee all tax litigation matters that are active in the firm. In the past year, they have won cases that have set precedents, for example, successfully representing clients in the Court of Appeal on what constitutes 'entertainment,' and the extent of power of the Inland Revenue Board to impose a penalty in the matter. It was upheld in the Court of Appeal that the IRB does not have the liberty to simply impose penalties, but should only do so in cases of willful nondisclosure of information or submitting the wrong information.

Known in the market for his tax controversy expertise, Vijey Krishnan leads the tax practice at Raja, Darryl & Loh, though he advises on non-contentious matters too. The team is supported by the firm's large litigation practice, lends their resources ... [more]

Known in the market for his tax controversy expertise, Vijey Krishnan leads the tax practice at Raja, Darryl & Loh, though he advises on non-contentious matters too. The team is supported by the firm's large litigation practice, lends their resources and knowledge in the event of tax litigation.

Krishnan is engaged in a dispute that addresses a question that has always been uncertain for MNCs. The case will test the basis on which the IRB makes an adjustment, the fundamental core issue being whether the board possesses the power to do so. And in a case that is continuing, he is representing Country Heights Holding Berhad in a real property gains tax dispute with the IRB, where Krishnan is challenging the ability of the tax authorities to assess an acquirer of real property.