Malaysian Business Taxation & Effective Tax Planning For SME Companies

22-23 Jul, 2020, Renaissance Kuala Lumpur Hotel

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Mr. Santhanasamy Subbiah who has more than 35 years of experience in the corporate world started his career with Ministry of Works. With the Ministry his main task is to appraise mega project on its viability that was funded by World Bank. He was also involved in Urban Transport Study in collaboration with the Japan International Cooperation Agency (JICA). He left government services and joined Sunway University as a senior lecturer.

 

In 1990’s he joined the finance division of South East Asia Insurance and spear headed the budget team and prepared the first ever budget of the company. He joined Kris Pahlawan, a shipping company and headed their Finance, Administration and Human Resource Department. His main task was to list the company in the Kuala Lumpur Stock Exchange.

 

He later joined iCIMB, to Head the finance division of a wholly owned subsidiary of CIMB Bank that is involved in the Bank Back Office Outsourcing Operations. As a pioneer he developed the Standard Operating Procedures of the Bank Back Office Operations. He architect and designed the establishment of the Finance Division of iCMB. Later he served as a Group Financial Controller with Novabrite Lighting Sdn Bhd, a High Intensity Discharge Lamps manufacturer and later joined Mahmood Security as its Chief Financial Officer.

 

Then later he was appointed as a Dean in Binary University to spear-headed the Accounting, Finance and Taxation Faculty. He is a subject matter expert for both direct and indirect tax. He is also a tax examiner of the University and travels nationwide to lecture the latest updates on both direct and indirect tax. He has given more than 300 lectures on taxation throughout Malaysia.

 

Santhanasamy holds an MBA majoring in Finance from University Putra Malaysia. He is a member of the Chartered Accountant of Malaysia, Chartered Management Accountant of UK (CIMA), Chartered Global Management Accountant, MyGCAP and an Associate Member of the Malaysian Institute of Management. He is a Certified Trainer of HRDF.

Venue Details

Renaissance Kuala Lumpur Hotel
Corner of Jalan Sultan Ismail and Jalan Ampang, Kuala Lumpur 50450,
Phone : 03 2162 2233
Fax : 03 2161 5555

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Module 1: Overview Of Malaysia Taxation
  • Module 2: Income For Sole Proprietorship
  • Module 3: Income For Partnerships
  • Module 4: Employment Income
  • Module 5: Business Income
  • Module 6: Business Deductions
  • Module 7: Company Taxation
  • Module 8: Capital Allowances
INTRODUCTION

In today’s inflationary times, the cost of doing business is escalating at an alarming rate. Amongst other things, tax payers including companies have to manage their cash and assets reserves in an optimum and efficient manner in order to carry on business. All the efforts may come to naught if the company has not been fulfilling its obligation as a taxpayer diligently and carefully.


In some instances, as a result of tax audits or investigations carried out the inland revenue board, the additional tax and penalties that are imposed on the companies leave them facing a great dilemma as there may be insufficient funds available to settle the tax liabilities.

Tax payers should also look at mitigating their tax liabilities based on legal means that are missed out due to either lack of sufficient information or sheer ignorance. Suffice to say that knowledge gained at this course may be converted to real savings by tax payers

COURSE OBJECTIVES
  1. Understanding the contribution that taxation makes to the government’s income, outlining the various taxes imposed by the Inland Revenue Board.
  2. Discussing the scope of charge for individuals and determining the resident status for individuals.
  3. Understanding the significance of the resident status for purposes of computing income tax payable.
  4. Determining the basis period of a business source of an individual.
  5. Identifying whether an individual is in business, distinguishing between capital and revenue receipt.
  6. Computing the statutory income for each partner from a partnership.
  7. Determining the basis period when the sources of income are taxable.
  8. Identifying the business income available in business environment.
  9. Computing chargeable income for a given year of assessment.
  10. Identifying various types of business deductions available to business.
  11. Understanding the difference between capital expenditure and revenue expenditure.
  12. Advising types of capital allowances to business and finally.
  13. Formulating tax planning strategies for companies carrying on taxation.
WHO SHOULD ATTEND
This course is designed for Financial Professionals, Accounts Managers or Executives who are interested understanding the application of company income tax so that they can make some decisions on their own and can participate in the income tax decisions of their business.
METHODOLOGY
Interactive lectures, practical exercises & discussion on all relevant aspects of company income tax to ensure participants grasp clearly aspects presented.
DAY 1
9:00

Module 1: Overview Of Malaysian Taxation

  • Tax Revenue In Year 2020
  • Profile Of The Inland Revenue Board (IRB)
  • Taxes Under The Preview Of The Inland Revenue Board
  • Basis Of Malaysian Income Tax
  • Taxation System In Malaysia
10.45

Module 2: Income For Sole Proprietorship

  • Business Period And Year Of Assessment
  • Definition Of A Business
  • Wages Of Trade
  • Business Income
  • Deductions Against Business Income
  • Capital Allowances On Plant And Machinery
  • Industrial Building Allowance
  • Computation Of Statutory Income From Business
1:00 Lunch
2:00

Module 3: Income For Partnerships

  • General
  • Evidence For Existence
  • Date Of Commencement
  • Basis Period
  • Types Of Partners
  • Tax Computation
  • Sole Proprietor Admitting A Partner
  • Changes To Partnerships
  • Allocation Of Capital Allowances
3:45

Module 4: Employment Income

  • Characteristics If An Employment
  • Malaysian Derived Employment Income
  • Basis Of Assessment Of Employment Income
  • Types Of Employment Income
  • Exempted Income
  • Allowable Deductions From Gross Income
5:00 End of Day 1
DAY 2
9:00

Module 5: Business Income

  • Badges Of Trade
  • Gross Income From Business
  • Derivation Of Business Income
  • Commencement Of Business
  • Basis Period
  • Adjusted And Statutory Income From Business
10.45

Module 6: Business Deductions

  • Capital Expenditure Versus Revenue Expenditures
  • General Deduction Test
  • Statutory Prohibited Expenses
  • Specific Prohibited Expenses
  • Specific Deduction Expenses In The Act
  • Double Deductions
  • Examples Of Deductible And Non- Deductible Expenses
1:00 Lunch
2:00

Module 7: Company Taxation

  • Introduction
  • Computation Of Adjusted Income From Business
  • Approved Donations
  • Income Tax Rate
  • Section 108 Account (Dividend Franking Account)
  • Example Of Income Tax Computation
3:45

Module 8: Capital Allowances

  • Capital Allowances On Plant And Machinery
  • Capital Allowances On Industrial Building
  • Disposal Of Industrial Building
5:00 End of Course