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(MC) Tax Planning For HR Managers

21-22 Nov, 2022, Remote Online Training - Public

IPA Training is Registered with

Venue Details

Remote Online Training - Public


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
  • Gross Employment Income & Taxable Benefits For Employees
  • Duties And Responsibilities Of Both The Employer And Employee
  • Tax Treatment Of Employment Income
  • Tax Implication On Benefits In Kind (BIK) Provided To Employees
  • Perquisites Provided To Employees
  • Living Accommodation Benefit Provided By The Employer
  • Compensation For Loss Of Employment
  • Budget Update on Individual Taxation
  • Questions & Answers Session
INTRODUCTION

Understanding and taking advantage of the various tax provisions can create additional value by optimizing tax savings for both employers and employees.

Any tax efficient remuneration package should provide comfort and satisfaction for both employers and employees. A ‘Win-Win’ tax benefit model is the solution. The course will cover the latest tax developments and their impact on the business.

COURSE LEARNING OUTCOMES (CLO)
  1. Identify the Types Of Benefits In Kind (BIK) And Perquisites That Attract Tax For Employees.
  2. Identify the Full Tax Deductions For All Monetary And Non- Monetary Benefits Available to the Employer
  3. Distinguish The Duties And Responsibilities Of Both Employer And Employee With Regard To Tax.
  4. Identify And Exploring The Various Tax Benefits Available For The Employees.
  5. Choose An Efficient Tax Remuneration Package For The Employees.
  6. Knowing The Various Tax Reliefs And Rebates Given To Employees.
  7. Tax Treatment Of Gratuity And Compensation Paid To Employees
  8. Knowing How To Compute Personal Income Tax
  9. The Latest Tax Developments And Case Laws Relevant To Treatment Of Income Tax
WHO SHOULD ATTEND
CEO’s, Directors, Senior Managers, HR Managers & Executives, Tax Agents/Advisors, Tax Specialists, Tax Accountants, Finance and Administrative Managers, Financial Controllers Company Secretaries Bankers Financial Planners Advocates & Solicitors, Business Entrepreneurs
METHODOLOGY
Interactive Lectures, Discussion and Questions & Answers
DAY 1
9:00

GROSS EMPLOYMENT INCOME & TAXABLE BENEFITS FOR EMPLOYEES

  • Gross salaries / wages / leave pay
  • Fees / commission / bonus / allowances / overtime / gratuity / etc
  • Perquisites
  • Benefits in kind (BIK)
  • Living accommodation provided by employer
  • Refunds from unapproved pension funds
  • Compensation for loss of office


10.45

DUTIES AND RESPONSIBILITIES OF BOTH THE EMPLOYER AND EMPLOYEE

  • Recruitment / Retirement of employees
  • Monthly tax deductions scheme (PCB)
  • Dealing with foreign workers / non-residents
  • Determining resident status for employees
  • Procedures for withholding payments
  • Types of return forms & how to fill up the forms - Form E/EA/BE/B
  • Non-compliance consequences
  • Overview of Self-Assessment System (SAS) for individual taxpayers
  • Tax Audit & Tax Investigation


1:00 Lunch
2:00

TAX TREATMENT OF EMPLOYMENT INCOME

  • Planning for tax efficient remuneration package
  • Pitfalls / traps to be avoided when planning remuneration for executives /directors
  • Valuing non-monetary and monetary benefits provided to employees
  • Maximizing tax reliefs and rebates given to employees
  • Tax treatment of gratuity and compensation paid to employees
  • Designing an effective tax computation system

3:45

TAX IMPLICATION ON BENEFITS IN KIND (BIK) PROVIDED TO EMPLOYEES

  • What is meant by BIK?
  • Ascertainment of the value of BIK
  • Computing value of BIK (Formula method and prescribed value method)
  • Company car and other related benefits (Driver, petrol, etc)
  • Household furnishings, apparatus & appliances
  • Other taxable benefits
  • Tax exempt benefits
  • Treatment of mobile telephone / leave passage
5:00 End of Day 1
DAY 2
9:00

PERQUISITES PROVIDED TO EMPLOYEES

  • The distinction between perquisites and BIK
  • Types of perquisites and the tax treatment
    - Employees pecuniary liabilities
    - Credit card facilities
    - Loan interest
    - Recreational club membership
    - Tuition or school fees of child
    - Insurance premiums
    - Gardener, driver, domestic help or guard
    - Scholarship
    - Waiver of loan or advance
    - Assets provided free of charge or sold at discounted prices
    - Gift vouchers
    - Gift of personal computers
    - Excellent Public Service award
    - Professional subscriptions
    - Income Tax of the employee borne by the employer

10.45

LIVING ACCOMMODATION BENEFIT PROVIDED BY THE EMPLOYER

  • Tax treatment of living accommodation benefit provided to employees and service directors
  • Computation of value of living accommodation
  • Circumstances in which the value of benefit can be reduced.
1:00 Lunch
2:00

COMPENSATION FOR LOSS OF EMPLOYMENT

  • Under what circumstances compensation for loss of employment arises?
  • Distinction between payment for compensation and payment for gratuity
  • Computation of taxable benefits
3:45

 BUDGET UPDATE ON INDIVIDUAL TAXATION

  QUESTIONS & ANSWERS SESSION
5:00 End of Course