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(MC) Tax Compliance & Statutory Changes affecting Payroll Administration

04 Aug, 2022, Remote Online Training - Public

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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
  • Definition
  • Benefits In Kind (BIK) versus Perquisites
  • Tax Exemptions versus Tax Rebates
  • Allowable Tax Relief And Other Deductions
  • Tax Residence and Tax Rates
  • Gratuity versus Pension
  • Various Income Tax Forms
  • Understanding PCB/ MTD 2022
  • Year End Duties & Responsibilities Of Employers
  • Employer-Paid Tax (Tax Majikan)
  • Employees Provident Fund Act 1991
  • Social Security Act (SOCSO) 1969
  • Employment Insurance System Act (EIS) 2017
  • HRDF ACT 2001
INTRODUCTION

An overview of the entire scope of managing salary effectively, this course is a “MUST” for any Human Resources practitioners involved in Salary Administration.

COURSE LEARNING OUTCOMES (CLO)
  1. Explain the legal & statutory issues of wages
  2. Explain the overall components of payroll
  3. Identify the strategies on how to handle issues and problems relating to payroll
  4. Choose and learn the actual case studies from over 40 industries.
  5. Understanding the special section on treatment of BIK and Public Rulings by Tax Office.
  6. Describe on the changes in 2022 by Tax Office
WHO SHOULD ATTEND

The course emphasizes on Tax Compliance.

  • HR Managers & Executives
  • Payroll Managers & Executives
  • C&B Managers & Executives
  • Finance Managers & Executives
METHODOLOGY
  • Interactive Learning Process
  • Lectures
  • Analysis of Cases
  • Practical Exercises
  • Group Work & Discussions
COURSE CONTENT
9:00

DEFINITION

  • The various Legislations Affecting Wages in Malaysia
    - Computing Ordinary Rate of Pay (ORP)
    - Policies & Practices Affecting Wages
    o Leave & Unpaid Leave
    o Maternity Leave Benefit
    o Public Holiday Benefit
    o Short Notice/ Pay-in-lieu-of Notice
  • Recent Changes In 2022 on Employment Act Affecting Payroll
  • Breaking down the various components of Income under Malaysian Income Tax Act

 

BENEFITS IN KIND (BIK) VERSUS PERQUISITES

  • BIK & OTHER INCOME TAX PUBLIC RULING
  • Examples & Exercises on Difference between Benefits-In-Kind & Perquisites
  • Public Rulings Affecting Employee Payroll
 

TAX EXEMPTIONS VERSUS TAX REBATES

 

ALLOWABLE TAX RELIEF AND OTHER DEDUCTIONS

  • Compulsory Deductions
  • Optional Deductions
  • Authorized Deductions under the Employment Act

 

TAX RESIDENCE AND TAX RATES

  • Resident and Non-Resident Tax
  • Tax Residents – Criteria & Benefits
  • Other Tax Resident Types: REP and Iskandar
  • Case Studies involving Tax Residence
1:00

Lunch

2:00

GRATUITY VERSUS PENSION

  • Termination
  • Retirement
  • Compensation for Loss of Employment
  • Other Lump Sum Payments
  • Leaving the Country
 

VARIOUS INCOME TAX FORMS

  • BORANG TP1
  • TP3 FORM & MTD
 

UNDERSTANDING PCB/ MTD 2022

  • Components in PCB Formula
  • Understanding Normal and Additional Wages
  • Fixed Income and Non-Fixed Income
  • Computing Tax on Previous Year’s Income
  • Concept of Tax-free Benefits as part of Monthly Income
 

YEAR END DUTIES & RESPONSIBILITIES OF EMPLOYERS

  • Borang EA
  • Slip Jawapan
  • Tax Exemption Listing
  • Year-End Reconciliation
 

EMPLOYER-PAID TAX (TAX MAJIKAN)

  • Tax Treatment for Employer-Paid Tax
  • Case Studies
 

BRIEFLY

 
  • EMPLOYEES PROVIDENT FUND ACT 1991
    o Definition of Wages under EPF Act
    o Latest Changes in the EPF Act
 
  • SOCIAL SECURITY ACT (SOCSO) 1969
    o Latest Changes in the SOCSO Act
    o Coverage of Foreign Workers
    o Expatriate Staff & SOCSO
 
  • SOCIAL SECURITY ACT (EIS) 2017
    o Coverage & Exemptions
    o Rate of Contribution
    o Benefits

 
  • HRDF ACT 2001
    o Coverage & Exemptions
    o Rate of Contribution
    o Benefits
5.00 End Of Course