The Impact of E-Invoicing on Company Income Tax and SST Record Management

21 Jun, 2024, Remote Online Training - Public

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T.THARMASEELAN

Chartered Accountant (M)

Fellow Of The Association Of Chartered Certified

Accountant (UK)

MBA (Wales) in Marketing

HRDF certified Trainer

Certificate IV in Training and Assessment (AIM)

 

Tharmaseelan C.A (M), F.C.C.A, MIAE has vast experience in the field of Accounting, Taxation, Internal Control Systems and Finance for almost 25 years in an international accounting firm and local consultancy firms.

 

His career spanned across wide working experience and exposure in Accounting, Taxation, implementing Internal Control Systems and Finance in consultancy firms, a leading hotel in Langkawi and in a leading hotel training college. He has also developed Business, Accountancy and IT Programs with various colleges, and these programs are validated by foreign universities and professional Bodies.

 

He was attached to a medium size audit firm as a Senior Audit Assistant before he moved over to an established international tax company where he held the position as a Tax Senior. He then joined an established professional firm as the Tax Manager where he oversaw the computation, submission and resolving tax issues for clients.

 

His tenure with an established Consultancy as a Senior Consultant gave him the opportunity to designed internal control systems & implemented it. He also advised his clients on compliance with accounting standards and tax regulations. His last position prior to going into practice was as the Associate Director of The Business School where he was responsible for restructuring the Business School and identifying suitable courses and obtaining accreditation from various bodies and universities.

 

He is currently in practice offering his expertise and knowledge to corporate and professional clients, locally and worldwide. His specializations are in designing and setting up of Accounting, Taxation, Finance, Internal Control and Operational Systems as well as in performing Operational Audits. His well-esteemed clients include those in the hospitality, education, manufacturing and service-based industries.

 

As a qualified Accountant, he is actively involved in conducting audit and financial courses. His experience brings him to faraway countries such as Vietnam, Brunei, Singapore, Nepal, Uganda and Rwanda to train Accounting and Financial Professionals.

 

He is currently the principal consultant of his own consultancy firm and a director of a growing tax and secretarial firm.

 

He is also a regular training facilitator for

1. Malaysian Institute of Accountants

2. Certified Public Accountants of Australia.

Venue Details

Remote Online Training - Public

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
  • Tax Administration Under Income Tax And SST
  • E-Invoicing
  • Filing And Payment Procedures
  • Maintaining Proper Accounting Records Under Income Tax And Sales And Service Tax Returns
  • Responsibility Of Payer
OBJECTIVES

Conducting a business would inevitably involve taxation. Whether Corporate Tax or SST, proper documentation is required when dealing with the tax authorities. This includes providing documentation for deductions on Corporate Tax.

 

Failure to provide the requisite documentation when required would invite action from the authorities, which may include hefty fines. It is therefore crucial for businesses to ensure proper, adequate and systematic documentation of all transactions to comply with the tax laws and regulations.

 

Learn how you can develop an effective tax administration and maintain proper accounting records, to not only avoid penalties for non-compliance, but to also ensure you do not face difficulties with claims for deductions and input tax recovery.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding The Responsibilities And Obligations Of The Taxpayer.
  2. Ensuring Proper Documentation Is Maintained
    In Accordance With Income Tax And SST Regulations.
  3. Ensuring Proper Records Are Maintained In Accordance With Income Tax And SST Regulations.
  4. Ensuring Your Company Complies With All Submissions.
  5. Understanding How Income Tax And SST Impacts Your Business.
  6. Being Ready For Tax And SST Audits.
  7. Ensuring That Appropriate Form Is Submitted For Income Tax, SST And Withholding Tax
  8. Understand The E-Invoicing.
WHO SHOULD ATTEND
  • Financial Controllers
  • General Managers
  • Corporate Finance Advisors
  • Company Secretaries
  • Accountants
  • Auditors
  • Corporate Planners
  • Accounts, Finance, Audit and Administrative Executives
  • Internal Audit Executives
METHODOLOGY
  • Interactive Learning Session with Course Leader-Led Facilitation
  • Live Questions & Answers
  • Case Studies
COURSE CONTENT
9:00

TAX ADMINISTRATION UNDER INCOME TAX AND SST

  • Overview Of Income Tax And SST
    - Roles & Responsibilities Of Taxpayers
    - How Income Tax And SST Affect Your Business.
    - Impact And Consequences Of Legislation
    - Taxpayer Rights/Obligations Under Self- Assessment And SST
10.45

E-INVOICING

  • What Is E-Invoicing?
  • Methods Of Submitting E-Invoices
  • When Is An E Invoice Needed?
  • Details To Be Included In E-Invoices.
  • Documentation To Be Digitalized.
  • Steps Involved For Issuance Of An E-Invoice To Buyer Details To Be
    Provided By The Individual Buyers For The Issuance Of E-Invoice.
 

Case Studies Of Different Types Of Transaction

  • Sales
  • Refunds
  • Payment On Behalf.
  • Where The Buyer Does Not Require An E-Invoice
  • Self-Billing
12.00

FILING AND PAYMENT PROCEDURES

  • Payment Of Tax Under Instalment Schemes
  • Payment Under The SST System
  • Estimates Of Tax/Revision Of Tax Estimates
  • Penalty Provision For Failure To Furnish Estimates/Submit
  • Tax Returns
  • Submission Of
    - Borang C – Companies Tax Returns,
    - Borong E – Employes Return,
    - CP204 – Estimated Tax Payable, And SST02/02A Sales And Service Tax Returns
1:00 Lunch
2:00

MAINTAINING PROPER ACCOUNTING RECORDS UNDER INCOME TAX AND SALES
AND SERVICE TAX RETURNS

  • What Constitutes Sufficient Records
  • Income Tax Guidelines To Keeping Sufficient Records
  • Customs Guide On Record Keeping
  • IRB Public Ruling And SST Guideline
  • What Supporting Documents Need To Be Kept
  • Consequences Of Failing To Keep Sufficient Records
  • Area Of Focus By IRB And Customs
 

TAX AUDIT AND INVESTIGATIONS

  • Types/Objectives Of IRB Audit
  • Trigger Points For Audits
  • How Taxpayers Are Selected For Audits
  • Area Of Focus In Field Audit/Indication Of Fraud
  • Penalty Provision For Omission/Non- Disclosure
  • The Director General’s Sources Of Information
 

CONCEPT OF REASONABLE CARE [SECTION
114 (1A) ITA]

  • What Is “Providing Reasonable Care & Assistance”?
  • IRB Public Ruling No: 7/2000 On Providing Reasonable Care And
    Assistance
  • Exercising Reasonable Care In Practice To Ensure Compliance
3:45

RESPONSIBILITY OF PAYER

  • Overview Of The Scope And Rates Of Withholding Tax
  • Responsibilities Of The Payer
  • Non-Deductibility Of Expenses And Disallowed Capital Expenditure
  • Forms To Be Used In Submission:
    - Form 37 - Royalty And Interest To A Non-Resident
    - Form 37A - Contract Payment To Non- Resident Contractors
    - Forms 37D - Account Of Deductions
    From Special Classes Of Income In
    Accordance With Section 4A Income
    Tax Act 1967.
5:00 End of Course