COMPANY INCOME TAX AND GOODS AND SERVICES TAX RECORDS MANAGEMENT ( 2 DAYS)
By Mr. T. Seelan - 22 & 23 November 2017, 9:00 am To 5:00 pm,
Kuala Lumpur
(100% Claimable From HRDF/PSMB)
INTRODUCTION

Corporate Tax is a crucial expenditure in conducting business in Malaysia. Evidence is required when deductions are claimed.

With GST input tax recovery can be very challenging as the classification and recording is very important.

Maintaining records is very critical in Malaysia, with regulators emphasising on COMPLIANCE with tax regulations.

COURSE OBJECTIVES
  • Ensure compliance with IRB rulings to ensure deductibility of expenditure
  • Reduce Income tax penalties imposed by the authorities
  • Ensure that Tax audits are ‘smoothly’ conducted
  • Ensure maximum recoverability of input tax
  • Ensure appropriate classification of expenditure and supply to reduce tax impact
  • Reduce GST penalties with proper documentation
New & Revised Tax Codes and Tax Code Mapping
  • New and revised tax codes
  • Learn the new and revised recommended tax codes, and why they have been introduced
  • Mapping the new and revised tax codes to the respective GST-03 fields
  • Practical examples of everyday transactions and the application of the new and revised recommended tax codes to these transactions
  • Calculation of the Input Tax Recovery Rate (IRR) – understanding the components of the IRR formula using the new and revised tax codes
  • Common errors in the usage of correct tax codes
  • Examples of usage of tax codes and error prone areas
    • Deemed supplies
    • Imported services – understanding amendment to Section 13(4) on time of supply for imported services, omitting to account for imported services and errors in calculation of GST due to impact of IRB’s withholding tax
Duration

14 Hours, 2 Days.

COURSE OUTLINES :-
TAX ADMINISTRATION UNDER INCOME TAX AND GST
  1. Overview of INCOME TAX and GST
    • Roles & responsibilities of taxpayers
    • How INCOME TAX and GST affects your business?
    • Impact and consequences of legislation
    • Taxpayers rights / obligations under Self- assessment and GST
  2. Filing and payment procedures
    • Payment of tax under installment schemes
    • Payment under the GST system
    • Estimates of tax / revision of tax estimates
    • Penalty provision for failure to furnish estimates / submit tax returns
    • Submission of Borong C, E, CP204 and GST 03
  3. Maintaining proper accounting records under Income tax and GST
    • What constitutes sufficient records?
    • Guidelines to keeping sufficient records
    • IRB public ruling and GST guideline
    • What supporting documents need to be kept?
    • Consequences of failing to keep sufficient records
    • Area of focus by IRB and Customs
  4. Tax audit and investigations
    • Types / objectives of IRB audit
    • Trigger points for field audit
    • How taxpayers are selected for audits?t
    • Area of focus in field audit/ Indication of fraud
    • Penalty provision for omission / non-disclosure
    • The Director General’s sources of Information
  5. 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
Your Trainer

MR. T. SEELAN, C.A.(M), FCCA, specialises in designing and setting up of accounting, internal control and operational systems as well as in performing operational audits. His clients include those in the hospitality, education, manufacturing and servicebased industries. His working experience includes years at several public accounting firms, a leading hotel in Langkawi and an established manufacturing organisation. He was also attached to a large tax firm for three years. He also acts as a consultant for a number of groups on financial issues.

Mr. Seelan is also actively involved in the development and implementation of financial and management training programs for various organizations. He has trained accountance and financial advisors in Vietnam, Brunei and Uganda. These programs have produced excellent feedback. He has trained personnel from numerous companies and the public sector, including, Majlis Bandaraya Shah Alam, Permodalan Nasional Berhad, Institut Jantung Negara, Tradewind Hotel Group, Bintulu Development Authority, Ritz-Carlton Hotel, Putrajaya IOI Resort, Majlis Perbadanan Sibu, Lembaga Urusan Tabung Haji, Tenaga Cable Industries, Yeo Hiap Seng, Kobe Precision, Eon Finance, International Islamic University, Petroliam Nasional Bhd, Progressive Insurance Bhd, Subang Jaya Medical Centre, The MINT Hotel, KLIA Pan Pacific Hotel, Bank Rakyat, Toshiba Electronics, UDA Holdings Bhd, Komag USA, Bank Industri & Teknologi (M) Bhd, PPB Group and TH Plantations to name a few. He is a Member of the Malaysian Institute of Accountants, Fellow member of the Chartered Association of Certified Accountants and the Institute of Business Administration.

Course Fee
(Course fee is inclusive of 2 tea breaks, lunch, course material,Certificate of Attendance and 6% GST)
Early Bird for training in KL : ( Book Before 8 November 2017 )
1 person or more ~ RM 1295 / person
Standard
1 person ~ RM 1395 / person
2 persons or more ~ RM 1295 / person
(Course fee is inclusive of 2 tea breaks, lunch, course material, Certificate of Attendance and 6% GST)
Terms & Conditions:
1. Registration & Fees Policy
Registration is confirmed once registration form is received via fax/email/mail. All Payments/Undertaking Letters/Local Order (LO)/Letter of Approval must be made available and presented prior to the course.
2. Cancellation Policy
Any cancellation must be received in writing within 7 working days prior to the event else full payment will be imposed. Any no-show by registered delegates will be liable for full payment of the program fees.
3. Disclaimer & Program Changes Policy
Scientia Training Sdn Bhd reserves the right to amend or cancel the event due to circumstances beyond its control. We reserved the right to modify the advertised topics or course timing whenever necessary.
Registration:
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