Tax Planning For Malaysian SME Companies

Learn From The Best

Introduction

Who Should Attend

Directors, Accountants, Tax Managers, Executives

Methology

Power-point presentation, Lectures, Interactive Discussions

After Attending, You Will Return To Your Job

Participants should be able to acquire sufficient knowledge on the types or classes of income, expenses, exemptions, incentives, capital allowances, which needs to be considered in deriving at chargeable income, for their respective companies.

Learn From The Best

Mr. Hari Ramulu A/L Munusamy, FCCA [UK], CA [M], CMIIA, ACTIM, Associate of ACFE [USA], Associate of MACFE, Member of MATPRO, Member of IMA, Member of MIHRM, Member of MAPS, MBA [Accounting] 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 (after Diploma in Accounting, Newcastle-Upon-Tyne). 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 lectured at various institutions of higher learning, as a part-time and full-time lecturer, from October 1988 till June 2014.


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. 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 and GST (pre and post implementation).


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, associate member of MACFE, member of MATPRO, member of IMA and a member of MAPS. His academic excellence is in the form of (a) Diploma in Accountancy (Newcastle-Upon-Tyne, England), and (b) Master of Business Administration (Accounting) from University of Newcastle, USA.

Tax Planning For Malaysian SME Companies

21 & 22 October 2020

Introduction

Income Tax may be the least favorite topic for small business owners, but it's one of the most important. Income tax is a major cost of doing business in Malaysia. Therefore, tax planning to reduce the tax cost is very essential for companies. This workshop will provide participants with practical guide in various tax planning tools for companies.


The facilitator will also share his vast experience with participants on the practical issues that may be encountered in individual corporate tax planning.


Companies have to be conversant with tax planning and management, specifically so since the Self Assessment System demands that all Records and Returns have to be proper and need to comply with the requirements of the Income Tax Act. Tax planning and management is an issue that is receiving close attention from the Inland Revenue Board and its impact on the companies as taxpayers, as it is now the responsibility of the taxpayer to derive the chargeable income and pay the resultant tax thereon.

Program Outlines

DAY 1


BASIS OF MALAYSIAN COMPANY TAXATION SYSTEM

  • Income Tax Act 1967

  • Taxability of Receipts and Gains

  • When is Income Taxable?

  • When is Income not Taxable?

MAXIMIZATION OF TAX DEDUCTION OF EXPENSES

  • Allowable/Deductible Expenses

  • General Deductions – S33

  • Business Deductions – S34

DOUBLE DEDUCTION OF EXPENSES

  • Expenditure Qualifying for Double Deductions

  • Approved Training

  • Advertising Expenditure on Malaysian Brands

  • Promotion of Export Services Rules

  • Any other area of consideration

NON DEDUCTIBLE DEDUCTIONS S39

  • Minimize Non-Deductible Deductions

  • Capital Expenditure verses Revenue Expenditure

  • Entertainment Expenditure

  • Interest Restriction

DAY 2


CAPITAL ALLOWANCES AND CHARGES ON PLANT & MACHINERY

  • What is a Plant?

  • Concept of Qualifying Expenditure

  • Allowances Available

  • Balancing Allowance & Charge

  • Timing of Assets – Acquisition and Disposal

  • Assets under Hire Purchase

  • Assets under Leasing

  • Treatment of Unabsorbed Capital Allowances

INDUSTRIAL BUILDING ALLOWANCES

  • What is Industrial Building?

  • Allowances Available

  • Balancing Allowance & Charge

COMPANY TAXATION ILLUSTRATION

  • Adjusted Income

  • Statutory Income

  • Aggregate Income

  • Total Income/Chargeable Income

[1] Budget 2020

[2] Case Study

Questions and Answers

Register Here - Copy.png
PDF Brochure Icon.jpg

Who Should Attend

Directors, Accountants, Tax Managers, Executives

Methology

Power-point presentation, Lectures, Interactive Discussions

After Attending, You Will Return To Your Job

Participants should be able to acquire sufficient knowledge on the types or classes of income, expenses, exemptions, incentives, capital allowances, which needs to be considered in deriving at chargeable income, for their respective companies.

Course Fees

Normal Fee ~ RM 1378 / person

Group Discount (for 3 or more participants) ~ RM 1240.20/ person

(Incl. 6% Service Tax)

Copyright © 2020 Scientia Training Sdn Bhd