Income Tax Compliance Required of Employers

Transcription

1 TAX Income Tax Compliance Required of Employers kpmg.com/my

2 Workshop Objective The Income Tax Act, 1967 requires employers to comply with certain tax obligations. The obligations include notifying Inland Revenue Board ( IRB ) on commencement of employment, paying the correct amount of Monthly Tax Deductions ( MTD ), notifying IRB on cessation of employment etc. Noncompliance will lead to severe penalties being imposed by the IRB. As you may be aware, the IRB has been actively conducting MTD audit. The implementation of electronic filing of Form E on a mandatory basis effective 2016, will facilitate the IRB to detect any non-compliance of the MTD. Under-deduction of MTD may result in a fine ranging from RM200 to RM20,000 per offence. It is therefore important for HR personnel or personnel tasked with payroll matters be kept updated with the recent tax developments to discharge the employer s tax obligations fully. Our two experienced speakers will cover the following topics during the workshop: Requirement to notify the IRB relating to newly joined employees, resignees, seconded employees and retirees New guidelines on Tax Clearance Monthly Tax Deductions ( MTD ) - Distinction between Normal and Additional Remuneration - MTD as a final tax Disclosure of income in the Form EA/Form CP21/Form CP22A - Types of Perquisite and Benefit-in-Kind ( BIK ) 9.00 a.m p.m. - Identify and explore various tax exempt benefits for employees Completion of Form E vide e-filing Penalties for non-compliance of employer s obligations Impact of 2017 Budget Proposals on Personal tax The following Public Rulings ( PR ) will also be discussed in tandem with the above: PR No. 3/2005 : Living Accommodation Benefit Provided for the Employee by the Employer PR No. 1/2012 : Compensation for Loss of Employment PR No. 2/2013 : Perquisites From Employment PR No. 3/2013 : Benefits In Kind PR No. 8/2013 : Gratuity There will be case studies for participants to apply their understanding on the above topics.

3 Speaker s Profile Fong Chooi Lian, Associate Director Chooi Lian has been with the Global Mobility Services ( GMS ) practice of KPMG Tax for more than 10 years. Apart from her experience in tax compliance for inbound and outbound assignees, she also has extensive experience in advisory assignments including tax planning, restructuring of remuneration packages, payroll compliance review. She also has experience in Partnership Tax Return ( Form P ) and conducts in-house tax training as well as tax briefings to clients. Cecilia Paul, Associate Director Cecilia has more than 10 years of experience in providing personal tax compliance and advisory services to local and international clients. Her Malaysian tax engagements involve the preparation of personal tax returns, tax equalization calculations, Employer s Tax Return ( Form E ), calculation of Monthly Tax Deduction ( MTD ) and liaising with the IRB on contentious tax issues. She also has experience in Partnership Tax Return ( Form P ) preparation and provides advice to her clients on Malaysian personal tax implications. Who Should Attend Personnel who handles payroll, process reimbursement of claims or in possession of information relevant for the calculation of MTD, preparation of Form EA/Form CP21/CP22A and Form E. Workshop Details Details of the workshop are as follows:- Date : Wednesday, 16 November 2016 Time : 8.30 a.m. to 5.30 p.m. Venue : One World Hotel, Petaling Jaya

4 Agenda 8.30 a.m a.m. Breakfast and Registration 9.00 a.m a.m. Newly joined employees Resignees / seconded employees / retirees MTD a.m a.m. Tea break a.m p.m. MTD (cont d) and Form EA/BIK/Perquisite p.m p.m. Lunch 1.30 p.m p.m. Form EA/BIK/Perquisite (cont d) 3.00 p.m p.m. Tea break 3.15 p.m p.m. Form EA/BIK/Perquisite (cont d) Form E Penalties for non-compliance of employer s obligations Impact of 2017 Budget Proposals on Personal Tax 5.15 p.m p.m. Questions and Answers There will be related brief case studies after each topic This workshop is limited to only 35 participants to ensure interactive discussions. Registration is on a first come first served basis. For further inquiries, please contact Ms Carmen Yong or Ms Katherine Subramaniam or or them at carmenyong@kpmg.com.my or katherinesubramaniam@kpmg.com.my.

5 Registration Income Tax Compliance Required of Employers Please mail your completed form and cheque to: KPMG Tax Services Sdn Bhd, 10th Floor, KPMG Tower, No. 8, First Avenue, Bandar Utama, Petaling Jaya, Selangor or fax it to /7388. For online registration, please visit (Please photocopy the registration form for more delegates) Name: Salulation: Organisation: Tel: Postal Address: Designation: Fax: KPMG Alumni Vegetarian meal Name: Salulation: Organisation: Tel: Postal Address: Designation: Fax: KPMG Alumni Vegetarian meal Name: Salulation: Organisation: Tel: Postal Address: Designation: Fax: KPMG Alumni Vegetarian meal

6 CPD Certificate of attendance will be issued for 7 CPD hours. Fee & Payment RM848 (inclusive of 6% GST) per participant. 10% discount is given for registration of two or more participants. KPMG Alumni members are entitled to 10% discount. Registration fee is to be settled on or before 11 November 2016 to confirm participation. Registration fee is inclusive of seminar materials, breakfast, tea break and lunch. Cheques should be crossed and made payable to KPMG Tax Services Sdn Bhd. I/We enclose payment of RM via Cheque/Bank Draft no. payable to KPMG Tax Services Sdn. Bhd. Cancellation A substitute delegate is welcome at no extra charge if the registered participant is unable to attend. No refund will be given for cancellations received less than 14 working days before the workshop date. KPMG reserves the right to change the speaker, facilitator, venue, date and to vary/cancel the programme should circumstances beyond its control arise. KPMG also reserves the right to make alternative arrangements without prior notice should it be necessary to do so. You are deemed to have read and understood the terms and conditions upon signing the registration form KPMG Tax Services Sdn. Bhd., a company incorporated under the Malaysian Companies Act 1965 and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved.