2021 Budget & SST Pitfalls To Avoid

10 Dec, 2020, Webinar Classroom Training

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Venue Details

Webinar Classroom Training


Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

FOCUSING ON
  • Introduction
  • Key Budget Touchpoints
  • Key SST Implementation Areas To Focus & Pitfalls To Avoid
INTRODUCTION

Budget 2021 has been delivered on 6/11/2020 already under the theme “Stand United, We Shall Prevail”. This course is to provide participants with fundamental understanding of the key tax changes presented in the budget.

 

At the same time this course will also highlight the budgeted increase of RM4.3b requirements in indirect tax, of which RM0.5b is budgeted to come from the increase in import duties and the balance of RM3.8b may have to come from SST and excise.

 

In view of this tall order on the increase, this course will also highlight to you on the key implementation areas to focus and pitfalls to avoid as discovered during audit.

COURSE OBJECTIVE
The objectives of this course are to help you to:
  • Increase your understanding on the 2021 Budget.
  • Manage your tax efficiently
WHO SHOULD ATTEND
  • Business Owners and Company Directors
  • CEO, COO, CFOs, Financial Controllers and Finance Managers,
  • Accountants, Accounts Executives, Accounts Assistants.
  • Business Advisors, Auditors and Internal Audit Staff
  • Freelance Accounting Professionals,
  • Procurement/Purchasing/Sales/Logistics and other functional Managers
  • Other functional staff engaged in SST implementation matters.
METHODOLOGY
Interactive Lectures, Participative & Active Group Discussions, Exercises and Q & A Sessions
COURSE CONTENT
9:00

INTRODUCTION

  • Economic condition
  • Strengthening of Multi Agency Task Force.
10.00

KEY BUDGET TOUCHPOINTS FOR:

  • Personal Tax
  • Business Tax
  • Investment and Stamp Duties
11.00

KEY SST IMPLEMENTATION AREAS TO FOCUS & PITFALLS TO AVOID:

  • Sales Tax Exemption Management:
    i. Determination of taxable products
    ii. Exemption for machinery spare parts
    iii. Treatment of Raw Material and Packing Material Scraps
    iv. Exemption under Schedule C item 5 requirements to comply
    v. Imported Services
    vi. Correction of Error on you SST02 submission
  • Service Tax Focus:
    i. Group G – Profession services:
    - Rental services
    - Management services
    - IT services
    - Imported Services
    - Digital tax refund
    - Person exempted from paying service tax
  • Implementation & Pitfalls To Avoid.
1:00 End of Course