An ASX-listed electronics OEM with significant Penang export operations needed to accelerate its indirect tax refund cycle, which was consistently exceeding 20 weeks and tying up working capital.
The challenge
Refund packs were assembled reactively, supporting evidence sat across multiple ERPs, and authority queries triggered repeated rework. Each query cycle added six to eight weeks to the refund timeline.
Our approach
- Mapped the end-to-end refund workflow from invoice capture to authority filing.
- Standardised supporting documentation and built a single submission template.
- Pre-empted common authority queries with embedded reconciliations and narratives.
- Trained the in-house tax team on the new pack format and review checkpoints.
Outcomes
The average refund cycle reduced from 22 weeks to under 9 weeks, freeing approximately RM 11 million of working capital. Authority query rates fell by an estimated 70% following the rollout of the new documentation standard.
