INTRODUCTION FOR STRATEGIC TAX MANAGEMENT
The Participants able to learn the crucial facets of taxation, where the relevant law as well as the procedure necessary to comply with the requirements of the Inland Revenue Board. This course will cover the Impact of SST, Withholding tax & Corporate tax on corporate businesses.
HOW WILL YOU BENEFIT:
- Review a methodology for tax planning and develop your own tax planning approach
- Knowledge of tax systems and tax treaties of the countries involved
- Reviewing thoroughly the Sales Tax – Exemption & Facilities
- Understanding the principles in computation of Employment & Corporate Tax & Deferred Tax
- Preparing and addressing critical transition issues for businesses.
- Obtaining crucial updates on tax deductions allowance vs non-allowance expenses.
- Anti-avoidance provisions under the Income Tax Act, 1967.
WHO MUST ATTEND STRATEGIC TAX MANAGEMENT
- Tax Managers
- Accountants
- Business Advisors
- Finance Managers
- Tax Consultants
- Auditors
- Entrepreneurs
- Supervisors
- Those who are keen in updating on tax planning.
COURSE CONTENT
Topic 1 : Purpose of tax planning
- What is tax planning
- Advantage of tax planning
- Types of tax planning
- How to save taxes
Topic 2: Business & Employment
- Tax appeals
- Tax payment CP204
- Tax exemptions
- Computation of Employments
- Forms E & EA. Monthly tax deductions
Topic 3: Sales Tax – Exemption & facilities
- Special Rules
- Exemption & Facilities
Topic 4: Withholding Tax
- What is withholding tax ( WHT) in Malaysia?
- Does the WHT in Malaysia cover services rendered outside the country?
- What is royalty income in Malaysia?
- What are special classes of income?
- How to calculate the withholding tax in Malaysia?
Topic 5: Deferred Tax
- What is Deferred Tax?
- Deferred Tax Liability
- Deferred Tax Asset
- Tax paid vs tax expenses
- Accounting profit vs Taxable profit
Topic 6: Corporate Tax
- Introduction
- Computation Of Adjusted Income from Business
- Approved Donations
- Income Tax Rate
- Section 108 Account (Dividend Franking Account)
- Example Of Income Tax Computation
Topic 7: Business Deductions
- Capital Expenditure Versus Revenue Expenditures
- General Deduction Test
- Statutory Prohibited Expenses
- Specific Prohibited Expenses
- Specific Deduction Expenses in The Act
- Double Deductions
- Examples Of Deductible and Non- Deductible Expenses
Topic 8: Capital Allowances
- Capital Allowances on Plant and Machinery
- Capital Allowances on Industrial Building
- Disposal Of Industrial Building
Topic 9: Income for Sole Proprietorship
- Business Period and Year of Assessment
- Definition Of a Business
- Wages Of Trade
- Business Income
- Deductions Against Business Income
- Capital Allowances on Plant and Machinery
- Industrial Building Allowance
- Computation Of Statutory Income from Business
Topic 10 : Case Study
- Group discussion
- Tax computation & calculation – All Section
Q & A Section
End Of Program.
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