Income+
When should you hire a tax consultant?
Lim Siew May | 09 Feb 2018 00:30
In the US, it was found that the average taxpayer spends about 13 hours preparing his/her tax return. There’s no such statistic here – 123RF
It’s been said that the only two certainties in life are death and taxes. Under the self-assessment tax regime introduced in 2001, the major change in our tax system transferred the duty of accurately computing taxes from the Inland Revenue Board (IRB) to the taxpayers.

Love them, hate them, we all have to deal with the tax man, or in our case, the IRB. For the estimated two million active taxpayers in the country, some may even consider hiring tax professionals to help them with this obligatory, once-a-year affair. 

It is not known how much time Malaysians spend on tax returns, but in the US, the Internal Revenue Service (IRS) reveals that the average taxpayer spends 13 hours preparing his tax return, including record keeping, tax planning, form submission and other related activities. Depending on the complexity of an individual’s tax profile, the number of hours could vary widely.
 
Eurogain Tax Consultancy Sdn Bhd tax manager Ng Yoke Lian’s key clients are company directors or shareholders, sole proprietors or partnerships (which run businesses like restaurants, hawker stalls and retailing) as well as law and architecture firms.