A detailed tax training programme that aims to help entrepreneurs, expats and other individuals to learn and understand about the fundamental tax treatments of individual income that are subjected to tax in Malaysia, the roles and responsibilities of employers & employees in preparing and remitting those taxes to the IRB and how to account the taxes for foreign nationals working in Malaysia.
In addition, participants will also be exposed to the scope of charge and derivation of a Malaysian Income, situations where a person can be deemed to be a Malaysian tax resident and the distinction of the tax treatments between a resident person and a non-resident person.
Brochure
— Course Fee: RM 790.00 (Inclusive of 8% Service Tax) —
Module 1 : Employers’ Tax Compliance
- Introduction
[A brief introduction to Income tax for foreign nationals working in Malaysia] - Scope of Charge
[Discover the circumstances where an income will be subjected to tax in Malaysia]
- Residence Status of Individuals
[Learn the criteria that determines an individual’s liability to Malaysian Income Tax, as well as the distinctions of the tax treatments - Tax Treatments for Foreigners
[Identify the treatments for foreigners working in Malaysia, how to deal with the Immigration Department and apply for Visa, etc] - Open discussions, Q&A
Module 2 : Tax Planning for Individuals
- Introduction to Individual Income
- Identify the differences between a Sole Proprietorship, Persons receiving employment income, Partnership and Limited Liability Partnerships and their respective tax treatments
- Personal Reliefs
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- Understand the types of reliefs available to claim for an individual taxpayer
- Latest Tax Updates & Rulings
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- Learn the latest updates and changes on personal tax, reliefs and incentives
- Tax Planning
- Learn the most tax efficient method for an individual to minimize his or her tax liabilities by maximizing tax reliefs and incentives available
- Open discussions, Q&A
Module 3 : Tax Treatment on Employment Income
Introduction
[A general overview to the employment income]
S4(b) Employment Income
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- S13(1)(a)- Perquisites
- S13(1)(b)- Benefit-in-kind
- S13 (1)(c)- Living Accommodation
- S13 (1)(d)- Contributions to Unapproved Funds
- S13 (1)(e)- Compensation for loss of Unemployment
[Identify the key differences between perquisites vs BIKs, what to declare in the EA Form, CP58 and Form E, as well as the tax treatments of S13(1)(a) – S13(1)(e)]
Tax Treatment on Leave Passage
[Learn the tax treatment of leave passages as well as local & overseas travelling expenses]
Loan or Advances to Director
[Understand the tax implications for a loan or advances provided to the director and the situation where it could be taxable as a deemed interest]
Professional Indemnity & Key Man Insurance
[Learn the types of insurances that can and cannot be tax deductible for a director and the reasons why]
Module 4 : Employers and Employees Tax Compliance
- The responsibilities of Employers
- Notification on employees commencing and ceasing employment
- Notification on employees leaving Malaysia
- Procedure of Tax Clearance
- Withhold money due to employees
- Tax deduction from employee’s remuneration
- The obligation in relation of TP 1 & TP3
- Disclosure of income in the Form EA/Form CP21/Form CP22A
- Completion Form E via e-filing
- The responsibilities of Employees
- Declaration in Tax Return
- Submission of Form TP 1 or TP3
- Payment of tax
- Open discussions, Q&A