WITHHOLDING TAX IN IN MALAYSIA Understanding the Law and Practice

Transcription

1 WITHHOLDING TAX IN IN MALAYSIA Understanding the Law and Practice Date Time Venue Fees : 19 April 2017 (Wednesday) : 9.00am to 5.00pm (registration starts from 8.00am) : Nusantara Ballroom II, Sheraton Imperial Hotel, Kuala Lumpur : RM530 per participant RM424 per participant for a group of 3 or more BDO Asean BDO Malaysia bdomalaysia1

2 PROGRAMME Time Topic 8.00am 9.00am 9.15am 10.45am 11.15am 12.30pm 2.00pm 2.30pm 3.45pm 4.15pm 4.45pm 5.00pm Registration and breakfast Overview of withholding tax Types of payment subject to withholding tax Special classes of income (Section 4A) Discussion on PR No.1/2014 withholding tax on special classes on income Impact of recent changes Coffee break and networking Types of payment subject to withholding tax Contract payments Interest Royalty Other gains or profits under Section 4(f) Lunch and networking Withholding tax administrative aspects Overview of Double Taxation Agreements Concept of Permanent Establishment Business profits Dividend /interest / royalties / technical fees Tea break and networking Implications of GST and Transfer Pricing on technical service fee payments to non-residents Question and Answer session Closing remarks

3 Budget 2017 announced important changes to the withholding tax regime in Malaysia, significantly widening the scope of Section 109 withholding tax on royalty payments to nonresidents and Section 109B withholding tax on special classes of income paid to non-residents. Following the 16 January 2017 gazetting of the Finance Act, the definition of royalty payments has been extended to include, among others, payments for the use of or the right to use any software. As a consequence, from 17 January 2017, such payments made to nonresidents may be subject to Section 109 withholding tax at a rate of 10%. The scope of Section 109B has been widened. Prior to the gazetting of the Finance Act, to the extent that services were rendered outside Malaysia, payments for such services would not be deemed derived from Malaysia and therefore would not be subject to withholding tax. From 17 January 2017, the proviso that in order to be deemed derived from Malaysia the services must be performed in Malaysia has been removed and services rendered overseas may now be subject to withholding tax under Section 109B at a rate of 10%. The above changes may have an impact on your business. Join us for our workshop session on Withholding Tax in Malaysia to have a better understanding of the law (including the recent changes to the withholding tax sections in the Income Tax Act 1967) and its application in practice. REGISTRATION FEES Registration fee (per participant) Fee (inclusive of GST) (RM) Normal rate 530 Group registration (group of 3 and more under the same company/group) 424 RESERVATION Reservation can be made by telephone or , but will only be confirmed upon receipt of the completed registration form and full payment. CANCELLATION AND SUBSTITUTION POLICY Workshop fee is non-refundable once reservation has been confirmed. If you are unable to attend, a substitute delegate is welcomed when advised in writing prior to the workshop. No refund is given for cancellation or withdrawal. HRDF/SBL The workshop is eligible for HRDF (Human Resource Development Fund) claims under the SBL Scheme (Skim Bantuan Latihan). Closing date for registration: 12 April 2017

4 SPEAKERS Dato Khoo Chin Guan Executive Director Tax Dato Khoo has more than 3 decades of experience in a wide range of industries including energy and natural resources, plantation, manufacturing and services. He has been involved extensively in tax advisory work, tax planning and tax audits for clients ranging from Malaysian conglomerates to multinational companies. His tax advisory work includes those relating to mergers and acquisitions, tax structuring for in-bound as well as out-bound investments. Dato Khoo has previously served as the President of the Chartered Tax Institute of Malaysia as well as the Chairman of the Institute s Technical and Public Practice Committee. Currently, he is a Trustee of the Malaysian Tax Research Foundation, the sole foundation in Malaysia dedicated to the promotion, encouragement and advancement of tax research. Koo Kian Ming Executive Director Tax Kian Ming has over 17 years of experience in corporate tax compliance and advisory serving multinational and local companies in diversified industries such as financial services, oil and gas, property development and construction, property investment manufacturing, retail and plantation. He has advised clients on various tax issues such as inbound and outbound investments, group re-organisation, tax efficiency structures, tax incentives and has also been involved in many tax due diligence exercises due to M&A activities. He liaises with government bodies in Malaysia such as the Ministry of Finance, Inland Revenue Board, Royal Malaysian Customs Department, MIDA and MDeC on tax issues, tax disputes, applications for tax rulings and tax incentives.

5 REGISTRATION FORM Please register the following person(s) for the event No Full Name Designation Vegetarian meal (kindly tick if required) Contact person s details Name: Company: Designation: Tel: Fax: Address: PAYMENT DETAILS Please ensure that all cheques should be crossed and made payable to BDO Tax Services Sdn Bhd. Kindly indicate the company s name and Withholding Tax in Malaysia workshop on the back of the cheque. Alternatively, the cheque could be banked into our account, details as follows: Beneficiary (bank account name): BDO Tax Services Sdn Bhd Bank: Hong Leong Bank Berhad Account Number: Swift Code: HLBBMYKL Address: Raja Laut Branch Ground Floor, Menara Raja Laut 288 Jalan Raja Laut Kuala Lumpur (please include a copy of the bank transfer or bank-in slip with the completed registration form) Should you need further clarification, please call May Kin at or her at limmk@bdo.my BDO Tax Services Sdn Bhd ( K), a Malaysian Limited Liability Company, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO International network and for each of the BDO Member Firms.