Tax Planning For HR Managers

27-28 Jul, 2022, Remote Online Training - Public

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HARI RAMULU MUNUSAMY is a Chartered Certified Accountant, with wide experience in audit private practice and in financial/management/public sector accounting, auditing and taxation educational process, having been in the profession and industry since October 1974.

 

He started his career with Messrs F. H. Eiles & Co., a firm of Chartered Accountants in London as an Audit Assistant in October 1976. Subsequently, he continued his career as an Audit Supervisor with Messrs Coopers & Lybrand (now known as PricewaterhouseCoopers), Kuantan in May 1984. In January 1986 he joined Messrs Senthe & Co (a firm of Chartered Accountants in private practice in Petaling Jaya), as an Audit Manager, till December 2006. He had also worked as a group accountant for FARMCO Sdn. Bhd. He had also lectured at various institutions of higher learning, as a part-time and full-time lecturer.

 

Over the years, he gained knowledge, experience, skills and expertise in accounting, auditing and taxation related services including tax investigation, forensic accounting and company valuation and floatation.

 

Between 1993 and 2006, he had conducted seminars and courses in financial accounting, internal auditing, external auditing, and taxation to practitioners and
general public. Notable and worthy of mention are taxation seminars for Permodalan Nasional Berhad (PNB), auditing for FELDA, forensic accounting for ROYAL CUSTOMS MALAYSIA, and executive accounting and financial statements analysis course for Pahang ADUNs through Yayasan Pahang. He was the unofficial Consultant to the State Secretary and Chief Minister of Pahang from 1997 to 2000.

 

He is deemed to be a prolific speaker/presenter with excellent commendations from participants, at seminars, workshops, conferences. He has several public appearances relating to taxation, costing, budgeting, financial statements analysis, accounting standards, preparation of financial statements, financial statements fraud, forensic accounting, GST (pre and post implementation), Sales Tax 2018 and Service Tax 2018.


 

Professionally, he is a Fellow member of the Association of Chartered Certified Accountants of UK, a Chartered Accountant of the Malaysian Institute of Accountants, an Associate member of the Malaysian Chartered Institute of Taxation, a Chartered member of the Institute of Internal Auditors of Malaysia (affiliate of USA), an Associate member of the Association of Certified Fraud Examiners of USA, an Associate member of MACFE, member of MATPRO, member of IMA, a member of MAPS, a member of MAPTaC, and a member of Malaysian Institute of Management.

 

His academic qualifications are Diploma in Accountancy (Newcastle-Upon-Tyne, England), and Master of Business Administration (Accounting) from University of Newcastle, USA.

Venue Details

Remote Online Training - Public

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Phoebe,
M - 019 363 7822
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
yvonne@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
  • What Constitutes Taxable Benefits For Employees
  • What Are Duties And Responsibilities Of Both The Employer
    And Employee With Regard To Income Tax Compliance
  • 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

WHAT CONSTITUTES 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

WHAT ARE DUTIES AND RESPONSIBILITIES OF BOTH THE EMPLOYER AND EMPLOYEE WITH REGARD TO INCOME TAX COMPLIANCE

  • 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 EA/E/BE)
  • Non-compliance consequences
  • Overview of Self-Assessment system for individual taxpayers (including dealing with 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