Business Taxation Principles & Practices

24-25 May, 2021, Webinar Classroom Training

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TAN KOK TEE
DBA, MBA-Finance, FAIA, MIPA, MCCS, ACTIM,
International Accountant (UK),
Public Accountant (Aust.)
Certified Company Secretary.
HRDF Certified Trainer
Registered GST Agent.

 

MR. TAN KOK TEE has 40 years of working experience in Accounts & Financial, Strategic and General Management field. He has held a variety of leadership and senior management roles in various organizations, starting in the Accounts & Finance Department until CFO level and the last being Group Chief Executive Officer. More than half of these times were spent in the Manufacturing, Marketing & Distribution and Services organizations.

 

He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants, Aust.; Certified Commercial Accountant, (M); Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries (M) and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s (HRDF) Train The Trainer Certificate since 2009, a GST Agent registered with MOF & Holder of the GST MyGCAP certificate from RMCD and a Life Member of the Malaysian Institute of Directors.

 

Mr. Tan has been involved in Advisory, Training and Facilitation since beginning 2009. To-date he has conducted about 400 training workshops throughout Malaysia on topics on Budgeting & Cashflow Planning; GST; SST; Practical Accounting for Accounting Staffs; Reading, Analyzing and Interpreting Financial Statement; Accounting and Finance for Non-Finance Managers; Customers Credit Evaluations and Collection Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the Strategic Planning and Management and Financial Statement Hands On Application to MBRS, for both in-house as well as public..

 

Among the organizations that Tan Kok Tee has been providing training for, include Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, CPA Australia, Malaysian Institute of Chartered Secretaries and Administrators, Selangor State Human Resource Development Centre (SHRDC), Negeri Sembilan State Skills Development Centre (NSSDC), Penang Skill Development Centre (PSDC), NGOs and many others public training providers.

 

His other clients include Shin Yang Group, MIRI, Bintulu Port, Deleum Bhd., Boustead Plantation Bhd., Takahata, FBK Manufacturing, Brothers Industries, Integrated Logistics, Mega Logistics, Chung Hwa Picture Tubes, Ohara Melaka, Safran Aerospace, NEC Corp. of Malaysia, Kobe Precisions, Tecktronic & Sons Holdings, Julie’s Biscuits, Ornapaper Melaka, Sunway University, Sime Darby Properties, Lion Group and many more.

 

To-date Mr. Tan has trained more than 15,000 Executives. He combines a wide range of practical and hands-on training experience in lively and challenging interactive training sessions.

 

He also developed and delivered an entrepreneurship program specially designed for MBA students from GC University, Pakistan in collaboration with Sunway Education Group for period 2010 to 2014 and was an invited speaker for the Asian Financial Controller’s Congress in 2009, 2010 and 2011.

Venue Details

Webinar Classroom Training

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
  • General Principles Of Income Tax
  • Taxable Income Principles
  • Deductible Expenditure Principles
  • Capital Allowance
  • Withholding Tax Concepts
  • Understand The Basic Of Transfer Pricing And Its Updates For In The 2021 Budget
  • Deferred Taxation
  • Organization Responsibilities To Compliance With Tax Legislations
INTRODUCTION

Submitting the Annual Taxable Return (ATR) entails detail taxable income computation showing clearly what the taxable incomes are and what the deductible expenditures of a business are. It also involves the reconciliation of the Audited Financial Statement to the ATR to be in line with the provisions of the Income Tax Act 1967.

 

Gaining knowledge of what income is taxable, what expenses in deductible from the taxable income in the income tax computation and how does capital and balancing allowance and charge from IRM works, is always important in the business operation planning.

 

Hence Taxable knowledge will forever be an extreme asset and vital aspects to one’s career, business and organization success. It is a “NEED TO KNOW” subject matter.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Increasing The Understanding Of The Business Tax Principles And Concepts.
  2. Gaining Knowledge On What Income Is Taxable, What Expenditure Is Deductible And Its Related Rules In The Income Tax Act.
  3. Gaining Knowledge On The Various Capital Allowances, Such As Initial Allowance, Annual Allowances, Industrial Building Allowances, Balancing Allowance & Balancing Charge, Small Value Assets Allowances, Accelerated Capital Allowances
  4. Gaining Knowledge On Withholding Tax, Compliance And Consequence Of Non-Compliance.
WHO SHOULD ATTEND
  • Entrepreneurs, SME Business owners & Directors.
  • Corporate Non-Financial Managers
  • Fresh Accountants / Accounting Graduates,
  • Accounts Executives & Accounts Supervisors,
  • All other persons who are involved in and/or interested to learn and enhance their Basic Taxation knowledge to support their business operations.
METHODOLOGY
  • Interactive Lectures
  • Participative and Active Group Discussions
  • Group Hands On Exercise And Assignments
  • Free Flow Of Questions And Answers
DAY 1
9:00

GENERAL PRINCIPLES OF INCOME TAX

  • Scope of Chargeable Income and Deductible expenditures
  • Tax Residents concept and its treatment in the Income Tax Act
  • Commencement of Business dates
  • Double Taxation Agreement
10.45

TAXABLE INCOME PRINCIPLES

  • Section 4(a) - Business Income and Badges of Trade definition by the Income Tax Act.
  • Deemed revenue / business income.
  • Section 4(b) – (e) Non Business Income:
  • Section 4(f) – other incomes and is subjectivity to withholding tax.
  • Section 13 – Employment income scope – salary, wages, bonus, angpaos, cash vouchers, perquisite, BIK., etc.
  • What Income is not subject to Tax.
  • Special class of income
  • Investment Income
    i. Interest
    ii. Rental
  • Deemed interest income
1:00

Lunch

2:00 DEDUCTIBLE EXPENDITURE PRINCIPLES
  • General provision governing deductible and non- deductible expenditure under the income tax act.
  • Deductibility test – correct accounting classification via double entry.
  • Revenue Vs. Capital Expenditure Issues
  • Treatment of entertainment expenses
  • Deductibility of certain pre-operating expenses, secretarial and tax fees.
  • What constitute non-deductible expense under the income tax act
  • What expenses is entitled for Double deduction
  • Treatment of unabsorbed loss and unabsorbed capital allowances.
  • Inter-company loss relief.
  • Treatment of interest expense and interest restrictions
  • Earning Stripping avoidance compliance.
5:00 End of Day 1
DAY 2
9:00

CAPITAL ALLOWANCE

  • Qualifying expenditure and meaning of Property, plant and equipment
  • Initial and Annual Allowances
  • Fixed Assets disposal - Balance Allowance and Balance Charge
  • Small Value Assets allowance
  • Fixed Assets control and transfer
  • Accelerated Capital Allowances
  • Industrial building allowances
10.45

WITHHOLDING TAX CONCEPTS

  • Principles and type of expenditures subject to withholding tax, such as:
    - Interest
    - Royalties and licensing fee
    - Contract fees and its workers salary
    - Installation and commissioning of plants
    - Advisory & management fee, etc.
  • Parties Involved and the concept of where does the expenditure occurred.
  • What is Permanent Establishment.
  • Allocation of HQ expenses
  • Compliance procedures and Non-compliance consequence
12.00

UNDERSTAND THE BASIC OF TRANSFER PRICING AND ITS UPDATES FOR IN THE 2021 BUDGET

  • The concept of Transfer Pricing
  • Enhance Tax compliance introduced via 2021 budget
  • Overview LHDN’s ruling on transfer pricing.
1:00 Lunch
2:00

DEFERRED TAXATION

  • Circumstances that give rise to deferred taxation
  • What are these and where does the Account capture.
  • Treatment of when fixed assets are sold.
3:45

ORGANIZATION RESPONSIBILITIES TO COMPLIANCE WITH TAX LEGISLATIONS

  • Various Form submissions
  • Annual taxable income returns
  • Annual taxable income estimate and its necessary revisions
  • Consequence of wrong returns and other non - compliances – Various offence provisions and its penalties.
5:00 End of Course