Nur Amira Ahmad Azhar: LHDN to Consider Bank Statements, Properties, Cars, and Lifestyle in Assessments
Nur Amira Ahmad Azhar, the Deputy Chief Executive Officer of the Inland Revenue Board of Malaysia (LHDN), has stated that the agency may take into account various sources of information, including bank statements, properties, cars, and lifestyle choices, when conducting assessments.
Information Considered in Assessments
According to Nur Amira Ahmad Azhar, LHDN has the authority to analyze a taxpayer’s financial status by examining their bank statements to determine the sources of income. Additionally, the value of properties and cars owned by the taxpayer may also be considered in the assessment process.
Nur Amira Ahmad Azhar highlighted that lifestyle choices, such as luxury purchases and extravagant spending patterns, could raise red flags during the assessment. These indicators may prompt further investigation into the taxpayer’s income sources and tax compliance.
Purpose of Assessments
The primary objective of these assessments is to ensure that taxpayers are fulfilling their tax obligations accurately and honestly. By considering various aspects of an individual’s financial situation, LHDN aims to identify discrepancies or potential tax evasion practices.
Nur Amira Ahmad Azhar emphasized that these assessments are conducted to maintain the integrity of the tax system and to prevent tax evasion. By analyzing different facets of a taxpayer’s financial profile, LHDN can ensure that everyone is contributing their fair share to the country’s tax revenue.
Compliance and Transparency
Nur Amira Ahmad Azhar underlined the importance of compliance and transparency in tax matters. Taxpayers are encouraged to provide accurate and complete information to LHDN to facilitate the assessment process.
By being transparent about their financial activities and sources of income, taxpayers can demonstrate their commitment to fulfilling their tax obligations. This transparency also helps LHDN in conducting thorough assessments and ensuring tax compliance across the board.
Response and Awareness
Following Nur Amira Ahmad Azhar’s statements, there has been a heightened awareness among taxpayers regarding the information that may be considered during assessments. Many individuals have expressed a willingness to cooperate with LHDN and provide the necessary documentation to support their tax filings.
It is crucial for taxpayers to be aware of the various factors that LHDN may take into account during assessments. By maintaining proper records and documentation related to their financial activities, taxpayers can streamline the assessment process and avoid potential discrepancies.
Conclusion
In conclusion, Nur Amira Ahmad Azhar’s remarks shed light on the factors that LHDN may consider when conducting assessments, including bank statements, properties, cars, and lifestyle choices. These assessments play a vital role in ensuring tax compliance and maintaining the integrity of the tax system in Malaysia. Taxpayers are encouraged to cooperate with LHDN and provide accurate information to facilitate the assessment process.
Source
This article is written in response to original article.
