Understanding Malaysian Corporate Taxation

Transcription

1 Understanding Malaysian Corporate Taxation Date : 4 & 5 Aug 2011 Concorde Hotel, Kuala Lumpur Next Date : 5 & 6 Dec 2011 Crystal Crown, Petaling Jaya Fees : RM 1, (HRDF CLAIMABLE) - Course fee includes 2 tea breaks (morning and afternoon), a lunch, course material and certificate of attendance TRAINING OBJECTIVE This course is designed to: Be able to plan your business expenditure to ensure maximum tax deductions Ensure that your capital expenditures obtain maximum allowances Understand the fine points of classification and deductions Ensure that your tax estimate and liability are minimized Maximize double deduction WHO SHOULD ATTEND 1. Managing Directors/ CEO 2. Accountants 3. Financial Controllers 4. Accounts/ Finance Managers/ Executives 5. Administration Managers/ Executives 6. Personnel Managers/ Executives 7. HR Managers/ Executives 8. Entrepreneurs METHODOLOGY Lectures, Discussion, Cases & Exercise TRAINING CONTENTS 1) BASIS OF MALAYSIAN TAX Taxability of receipts and gains When is income taxable Who is taxable? When is income not taxable?

2 Scope of charge of tax 2) DEDUCTION OF EXPENSES Deductible deductions General deductions under s.33 Business deductions under s. 34 Stock adjustments under s.35 3) DOUBLE DEDUCTIONS OF EXPENSES Expenditure qualifying for double deductions Notes for approved training Advertising expenditure on Malaysian Brand name Promotion of export services rules 4) NON DEDUCTIBLE DEDUCTIONS Minimize non-deductible deductions Capital expenditure vs. revenue expenditure Entertainment expenditure Interest restriction Holding companies deductions 5) RELIEFS FOR CAPITAL EXPENDITURE When is it plant? When does plant (capital expenditure) qualify for allowances How much of the cost qualifies for allowances? What are the allowances available? When should we acquire or dispose of our assets? Assets with life span less than 2 years Assets acquired under Hire purchase Assets acquired under Leasing agreement Unabsorbed capital allowance Industrial Building allowances PROGRAM SCHEDULE Day 1 8:30 a.m. 9:00 a.m. Registration 9:00 a.m. 10:15 a.m. Training Start 10:15 a.m. 10:30 a.m. Morning Break 10:30 a.m. 1:00 p.m. Training Continue 1:00 p.m. 2:00 p.m. Lunch 2:00 p.m. 3:30 p.m. Training Continue 3:30 p.m. 3:45 p.m. Tea Break 3:45 p.m. 5:30 p.m. Training Continue 5.30pm End of Day 1 Day 2 8:30 a.m. 9:00 a.m. Registration 9:00 a.m. 10:15 a.m. Training Start 10:15 a.m. 10:30 a.m. Tea Break 10:30 a.m. 1:00 p.m. Training Continue 1:00 p.m. 2:00 p.m. Lunch 2:00 p.m. 3:30 p.m. Training Continue 3:30 p.m. 3:45 p.m. Tea Break 3:45 p.m. 5:30 p.m. Training Continue 5.30pm End of Training 6) TAX PLANNING OPPORTUNITIES WITHIN A GROUP OF COMPANIES Dealing with investment holding companies (Sect. 60F trap) Using profitable companies to borrow funds Transfer of profitable business into companies with business losses Inter company charges for services rendered Tax implication on inter-company dealings 7) OVERVIEW OF WITHHOLDING TAX PLANNING OPPORTUNITIES What is subject to withholding tax? (Sec 107, 109 & 109B) Payments that do not attract withholding tax Recent issues involving withholding tax

3 TRAINER BIODATA Mr J Selvarajah Mr J. Selvarajah CA (M), CA (NZ), PNA (Aust), A.T.I.I, B.Com.(Acc) is a practising accountant with 35 years of experience and has spent considerable time in auditing and assurance, internal audit and risk management, taxation and corporate secretarial services. He is presently a Partner of The Omar Arif group practice which comprises of 3 medium sized long established firms of chartered accountants in Kuala Lumpur. His wide range of experience includes corporate restructuring, cross border tax issues, including setting up of tax effective companies in Labuan and Hong Kong, corporate financing, conducting corporate governance and risk management training for an established medical centre, hospital and school of nursing, a resort and an educational institution. He has been instrumental in setting up standard operating and control procedures and risk management for a long and well established 5-star Hotel in Kuala Lumpur. He is also actively involved with several Audit Committees of public listed companies on Bursa Malaysia in advising on Corporate Governance and carrying out their Internal Audit functions. A keen follower in the area of development of financial reporting standards in Malaysia, he will effectively address the key areas in the Financial Reporting Standards ("FRS") and Private Entity Reporting Standards ("PERS") in the context of the Malaysian financial reporting framework. He currently conducts intensive training for his firms' staff and other interested parties and assists his clients in the preparation of their financial statements in accordance with the FRS's and PERS's.

4 Understanding Malaysian Corporate Taxation PROGRAM REGISTRATION PROGRAM DETAILS DATE: 26 & 27 May & 5 Aug 2011 *choose your preferred date VENUE: Holiday Inn Glenmarie, Shah Alam/ Concorde Hotel, Kuala Lumpur TIME: 9:00am 5.00pm TRAINING FEES: RM1, per participant TRAINING ENQUIRIES FEES: & REGISTRATION RM1, TEL: per 2180 participant FAX: cbtrasia@gmail.com WEB: TERMS & CONDITIONS Early bird fees Enjoy early bird discount of RM for registration with payment 2 weeks prior to training date. WRITTEN CANCELLATION: Registration cancelled 7 days prior to the event is subject to charge of 50% of course fee SUBSTITUTE: A substitute may be made at any time at no extra cost NOTE: CLEVERBRIDGE reserves the right to make any amendments and / or changes to the event if warranted by circumstances beyond its control COMPANY / ORGANIZATION DETAILS Company / Organization Name: Address: Name Of Contact Person: Mr/Ms Tel: Fax: Participant Details 1. Mr/Ms: Mobile No: 2. Mr/Ms: Mobile No: 3. Mr/Ms: Mobile No: 4. Mr/Ms: Mobile No: 5. Mr/Ms: Mobile No: Total Amount Payable: Payment Signature Details & Company Stamp: Cheque / Bank Draft / Credit Card (Please Specify): Payment by cheques should be crossed and made payable to: CLEVERBRIDGE TRAINING RESOURCES BANK DETAILS: CIMB CLEVERBRIDGE TRAINING RESOURCES No.9A, First Floor, Lintang Pekan Baru, Off Jalan Meru, Klang, Selangor Tel: Fax:

5 Understanding Malaysian Corporate Taxation Date : 4 & 5 Aug 2011 Concorde Hotel, Kuala Lumpur Next Date : 5 & 6 Dec 2011 Crystal Crown, Petaling Jaya Fees : RM 1, (HRDF CLAIMABLE) - Course fee includes 2 tea breaks (morning and afternoon), a lunch, course material and certificate of attendance TRAINING OBJECTIVE This course is designed to: Be able to plan your business expenditure to ensure maximum tax deductions Ensure that your capital expenditures obtain maximum allowances Understand the fine points of classification and deductions Ensure that your tax estimate and liability are minimized Maximize double deduction WHO SHOULD ATTEND 1. Managing Directors/ CEO 2. Accountants 3. Financial Controllers 4. Accounts/ Finance Managers/ Executives 5. Administration Managers/ Executives 6. Personnel Managers/ Executives 7. HR Managers/ Executives 8. Entrepreneurs METHODOLOGY Lectures, Discussion, Cases & Exercise TRAINING CONTENTS 1) BASIS OF MALAYSIAN TAX Taxability of receipts and gains When is income taxable Who is taxable? When is income not taxable?

6 Scope of charge of tax 2) DEDUCTION OF EXPENSES Deductible deductions General deductions under s.33 Business deductions under s. 34 Stock adjustments under s.35 3) DOUBLE DEDUCTIONS OF EXPENSES Expenditure qualifying for double deductions Notes for approved training Advertising expenditure on Malaysian Brand name Promotion of export services rules 4) NON DEDUCTIBLE DEDUCTIONS Minimize non-deductible deductions Capital expenditure vs. revenue expenditure Entertainment expenditure Interest restriction Holding companies deductions 5) RELIEFS FOR CAPITAL EXPENDITURE When is it plant? When does plant (capital expenditure) qualify for allowances How much of the cost qualifies for allowances? What are the allowances available? When should we acquire or dispose of our assets? Assets with life span less than 2 years Assets acquired under Hire purchase Assets acquired under Leasing agreement Unabsorbed capital allowance Industrial Building allowances PROGRAM SCHEDULE Day 1 8:30 a.m. 9:00 a.m. Registration 9:00 a.m. 10:15 a.m. Training Start 10:15 a.m. 10:30 a.m. Morning Break 10:30 a.m. 1:00 p.m. Training Continue 1:00 p.m. 2:00 p.m. Lunch 2:00 p.m. 3:30 p.m. Training Continue 3:30 p.m. 3:45 p.m. Tea Break 3:45 p.m. 5:30 p.m. Training Continue 5.30pm End of Day 1 Day 2 8:30 a.m. 9:00 a.m. Registration 9:00 a.m. 10:15 a.m. Training Start 10:15 a.m. 10:30 a.m. Tea Break 10:30 a.m. 1:00 p.m. Training Continue 1:00 p.m. 2:00 p.m. Lunch 2:00 p.m. 3:30 p.m. Training Continue 3:30 p.m. 3:45 p.m. Tea Break 3:45 p.m. 5:30 p.m. Training Continue 5.30pm End of Training 6) TAX PLANNING OPPORTUNITIES WITHIN A GROUP OF COMPANIES Dealing with investment holding companies (Sect. 60F trap) Using profitable companies to borrow funds Transfer of profitable business into companies with business losses Inter company charges for services rendered Tax implication on inter-company dealings 7) OVERVIEW OF WITHHOLDING TAX PLANNING OPPORTUNITIES What is subject to withholding tax? (Sec 107, 109 & 109B) Payments that do not attract withholding tax Recent issues involving withholding tax

7 TRAINER BIODATA Mr J Selvarajah Mr J. Selvarajah CA (M), CA (NZ), PNA (Aust), A.T.I.I, B.Com.(Acc) is a practising accountant with 35 years of experience and has spent considerable time in auditing and assurance, internal audit and risk management, taxation and corporate secretarial services. He is presently a Partner of The Omar Arif group practice which comprises of 3 medium sized long established firms of chartered accountants in Kuala Lumpur. His wide range of experience includes corporate restructuring, cross border tax issues, including setting up of tax effective companies in Labuan and Hong Kong, corporate financing, conducting corporate governance and risk management training for an established medical centre, hospital and school of nursing, a resort and an educational institution. He has been instrumental in setting up standard operating and control procedures and risk management for a long and well established 5-star Hotel in Kuala Lumpur. He is also actively involved with several Audit Committees of public listed companies on Bursa Malaysia in advising on Corporate Governance and carrying out their Internal Audit functions. A keen follower in the area of development of financial reporting standards in Malaysia, he will effectively address the key areas in the Financial Reporting Standards ("FRS") and Private Entity Reporting Standards ("PERS") in the context of the Malaysian financial reporting framework. He currently conducts intensive training for his firms' staff and other interested parties and assists his clients in the preparation of their financial statements in accordance with the FRS's and PERS's.

8 Understanding Malaysian Corporate Taxation PROGRAM REGISTRATION PROGRAM DETAILS DATE: 4 & 5 Aug & 6 Dec 2011 *choose your preferred date VENUE: Concorde Hotel, Kuala Lumpur/Crystal Crown, Petaling Jaya TIME: 9:00am 5.00pm TRAINING FEES: RM1, per participant TRAINING ENQUIRIES FEES: & REGISTRATION RM1, TEL: per 2180 participant FAX: cbtrasia@gmail.com WEB: TERMS & CONDITIONS Early bird fees Enjoy early bird discount of RM for registration with payment 2 weeks prior to training date. WRITTEN CANCELLATION: Registration cancelled 7 days prior to the event is subject to charge of 50% of course fee SUBSTITUTE: A substitute may be made at any time at no extra cost NOTE: CLEVERBRIDGE reserves the right to make any amendments and / or changes to the event if warranted by circumstances beyond its control COMPANY / ORGANIZATION DETAILS Company / Organization Name: Address: Name Of Contact Person: Mr/Ms Tel: Fax: Participant Details 1. Mr/Ms: Mobile No: 2. Mr/Ms: Mobile No: 3. Mr/Ms: Mobile No: 4. Mr/Ms: Mobile No: 5. Mr/Ms: Mobile No: Total Amount Payable: Payment Signature Details & Company Stamp: Cheque / Bank Draft / Credit Card (Please Specify): Payment by cheques should be crossed and made payable to: CLEVERBRIDGE TRAINING RESOURCES BANK DETAILS: CIMB CLEVERBRIDGE TRAINING RESOURCES No.9A, First Floor, Lintang Pekan Baru, Off Jalan Meru, Klang, Selangor Tel: Fax: