Seminars, Workshops, Training Courses etc
UNDERSTANDING OF MALAYSIAN TAXATION & EFFECTIVE TAX PLANNING
DATE: 22 - 23 Jun 2009
VENUE: Sunway Hotel & Resorts, Bandar Sunway, Selangor
FEE: RM 980.00
INTRODUCTION
Tax has become the single largest cost of doing business today.Lack of proper tax knowledge may result in companies paying more taxes that what is required by law.
Companies trading globally now face more tax challenges and therefore require an effective tax strategy and planning to optimize tax savings
Understanding and taking advantage of the various tax provisions can create additional value by optimizing tax savings for both employers and employees
OBJECTIVES
The program will highlight the latest tax developments and their impact on the business. It also focuses on exploring the various practical issues in structuring a tax efficient remuneration package which will provide comfort and satisfaction for employers and employees.
The key feature of this program is to examine the practical issues and inherent complexities. It will offer the participants hands on practice with extensive illustrative examples.
o Maximise your tax deduction
o Gain from different tax incentives to boost your bottom line
o Discover new loop holes on taxable income
o Redesign your tax planning to comply with the tax law
o Coordinate tax results with financial accounting rules
o Minimise your tax liabilities
o Examine the recent development in Transfer Pricing
o Boost your savings from the diverse tax incentives to boost your bottom line
o Realign your tax planning to comply with the tax laws
o Establish new strategies in indirect tax planning
o Analyse tax concerns of employee benefits
o Enhance your company's bottom line with minimum effective tax rate
o Understand the implications of tax avoidance, evasion and litigation
o Prepare your company for IRB audit
o Explore tax issues surrounding inter-company dealings
o Acquire tax practitioner's view on company restructuring
o Benefit from the incentives in REITs
COURSE OUTLINE
A. UNDERSTANDING THE BASIS OF MALAYSIAN TAXATION
* Overview of the scope of charge for Malaysian income tax under the Income Tax Act 1967.
* The meaning of income.
* Residence status of a taxpayer.
* Income subject to tax
- Business income
- Non business income
- Employment income
* Self Assessment – Tax planning issues
* Managing tax risks effectively – An overview
B. STRATEGIES AND TECHNIQUES USED IN TAX PLANNING.
* Maximising deductible expenses.
* Dealing with purchase and disposal of fixed assets
* Significance of capital allowances and tax losses
* Changing the nature of income and expenses
* Correct classification of expenses to avoid non-deductibility.
* Changing timing of income
* Deductibility of interest expenses and significance of interest restriction
* Optimisation of tax incentives.
- Reinvestment allowances / pioneer status / investment tax allowances etc.
* Pre-commencement / pre-operation expenses.
* Maximising double-deduction expenses.
* Tax treatment of various Accounting transactions
C TAX PLANNING OPPORTUNITIES WITHIN A GROUP OF COMPANIES.
* Dealing with holding companies (section 60F trap)
* Using profitable companies to borrow funds
* Transfer of profitable business into companies with business losses.
* Inter company charges for services rendered.
* Maximize tax incentives available for exporting companies
* Group tax relief
D. IMPACT OF WITHHOLDING TAX (WHT)
* Scope of withholding tax charge in Malaysia
* What is subject to WHT?
* Payments that do not attract WHT
- Reimbursement of Head office expenses
- Services performed outside Malaysia
- Other international transactions
* Use of tax treaties to benefit from double taxation agreement (DTA)
* Transactions between holding companies, subsidiaries and branches.
* Consequences of non-compliance
* Proper documentation for IRB audit
* Recent developments / case laws
E. INTERNATIONAL TRANSFER PRICING – JUSTIFICATION & DOCUMENTATION
* What constitutes transfer pricing?
* Why tax authorities are concerned with transfer pricing issues?
* Arm's length principle / Pricing methodologies
* Concept of comparability / factors determining comparability
F. TAX TREATMENT OF EMPLOYMENT INCOME
* What constitutes taxable benefits for employees
* Planning for tax efficient remuneration package
* Valuing non-monetary and monetary benefits provided to employees
* Tax implication on benefits in kind (BIK), perquisites and living accommodation provided to employees
* Tax treatment of gratuity and compensation for loss of office paid to employees
* Maximizing tax reliefs and rebates given to employees
* Current IRB's position on the various allowances paid to employees to discharge their responsibilities
* Latest tax developments and their impact on both employers and employees
G. HIGHLIGHTS ON RELEVANT TAX CASE LAWS
TARGET AUDIENCE
CEO's / Directors / Senior Managers Tax Agents / Advisors Tax Practitioners Tax Specialists Tax Accountants Finance and Administrative Managers Finance Directors Financial Controllers Company Secretaries Bankers Financial Planners Advocates & Solicitors Business Entrepreneurs
To register via fax, please click here to fax the form to (603) 7880 8081.
To register online, please click here.
To register via fax, please click here to fax the form to (603) 7880 8081.
To register online, please click here.
For group of 10 and above, In-House training or SDF Training assistance, please contact us @ (603) 7880 9762
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