The Application for Participation Process
The TCG Programme Participation Application Process is a structured process that requires thorough research and preparation to ensure compliance with IRBM standards. The application is made once; however, the operation and monitoring of the governance framework is dynamic and ongoing in line with the principle of continuous improvement.
Application Steps:
- Self-Assessment: The organisation evaluates its existing systems based on the TCF (Tax Control Framework) checklist.
- Documentation Preparation: Preparing core documents such as the Tax Policy, Risk Matrix, and Governance Structure.
- Submission of Application: Submit the Participation Form, TCF Principles Checklist, and Tax Control Framework Elements Checklist to the LHDNM.
- Appointment of Independent Reviewer: Appointing a qualified independent reviewer to validate the effectiveness of internal controls and submit the Independent Review Report within the specified period.
- IRBM Review: A verification process by IRBM including interviews with top management and system testing.
- Recognition: Granting of TCG status valid for three (3) consecutive years of assessment.