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From shareen@professionaltrainer.org Thu Apr 12 14:49:18 2012
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Subject: Tax Planning Issues for Employers and HR Personnel
Date: Thu, 12 Apr 2012 14:48:28 +0800
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Content preview: Malaysian Export Academy presents TAX PLANNING ISSUES FOR
EMPLOYERS AND HR PERSONNEL 16 & 17 April 2012, Mon & Tues, 9 am to 5 pm, Eastin
Hotel, Petaling Jaya For your training needs, visit www.exportacademy.net
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Malaysian Export Academy=20
presents
TAX PLANNING ISSUES FOR EMPLOYERS AND HR PERSONNEL
16 & 17 April 2012, Mon & Tues, 9 am to 5 pm, Eastin Hotel, Petaling =
Jaya
For your training needs, visit www.exportacademy.net=20
Certificate of attendance awarded for those who complete the course
(Claimable under the SBL Scheme)
Introduction
=20
The increasing cost of doing business has prompted many organizations to =
critically look at the staff related costs and its impact on the bottom =
line. Understanding and taking advantage of the various tax provisions =
can create additional value by optimizing tax savings for both employers =
and employees. Employee remuneration structure should be periodically =
reviewed to ensure that it is both tax effective and motivational.=20
=20
The course focuses on exploring the various practical issues in =
structuring a tax effective remuneration package which will provide =
comfort and satisfaction for both employers and employees.=20
=20
The course will also provide an opportunity for you to learn, =
understand, apply and manage the various tax planning issues relevant to =
an employment situation. The program will cover the budget 2011 and the =
latest developments and their impact on the business.
=20
What you will gain?
=20
o Knowing the duties and responsibilities of both employer and =
employee with regard to tax
o Can employer claim full deductions for all monetary and =
non-monetary benefits provided to employees?
o Types of BIK, allowances and perquisites that attract tax for =
employees
o Identify and explore the various tax exempt benefits for employees
o Knowing the various tax reliefs and rebates given to employees
o Understanding the new PCB mechanism and its related implementation =
issues
o Tax considerations for cross-border postings
o Designing a statement of remuneration incorporating taxable and tax =
exempt benefits
o Latest tax developments relevant to employment=20
=20
Who Should Attend?
HR Managers & Executives
Company Directors
Managers
Accountants / Auditors
Tax Agents / Advisors
Finance & Administrative Executives / Assistants=20
Business Entrepreneurs
Course Outline
=20
A. WHAT CONSTITUTES TAXABLE BENEFITS FOR EMPLOYEES=20
a..=20
Gross salaries / wages / leave pay=20
a.. Fees / commission / bonus / allowances / overtime / gratuity / etc=20
a.. Perquisites=20
a.. Benefits in kind (BIK)=20
a.. Living accommodation provided by employer=20
a.. Refunds from unapproved pension funds=20
a.. Compensation for loss of office=20
B. WHAT ARE DUTIES AND RESPONSIBILITIES OF BOTH THE EMPLOYER AND =
EMPLOYEE WITH REGARD TO INCOME TAX COMPLIANCE.
a..=20
Recruitment / Retirement of employees=20
a.. Dealing with foreign workers / non-residents=20
a.. Determining resident status for employees=20
a.. Procedures for withholding payments=20
a.. Tax clearance procedures for leaving employees =20
a.. Types of return forms / How to fill up the forms? (Form EA / E / BE) =
a.. Non-compliance consequences=20
a.. Self-Assessment system for individual taxpayers =20
a.. Tax audit on individual tax cases - Current IRB=92s position =20
C. TAX TREATMENT OF EMPLOYMENT INCOME
a..=20
Tax treatment of various components of employment income=20
a.. Derivation of Malaysian employment income =20
a.. Duties performed outside Malaysia =20
a.. Pitfalls / traps to be avoided when planning remuneration for =
executives / directors=20
a.. Valuing non monetary and monetary benefits provided to employees=20
a.. Tax exempt allowances, benefits in kind and perquisites (Budget =
updates) =20
a.. Maximizing tax reliefs , rebates and tax exempt benefits given to =
employees=20
a.. Tax treatment of gratuity and compensation paid to employees=20
a.. Tax issues relevant to cross border postings=20
a.. Designing an effective tax remuneration system =96 win win formula=20
D. PAYROLL AND NEW PCB MECHANISM (LATEST UPDATES)
a..=20
New PCB Mechanism ( 2009 onwards =20
a.. Deduction rules =20
a.. Distinction between Normal and Additional Remuneration - Impact on =
PCB calculation =20
a.. Disclosing the taxable and tax exempt benefits =96 designing an =
effective reporting format =20
a.. Exploring the practical issues faced by HR in implementing the new =
rules =20
a.. Non compliance of PCB rules / PCB tax audit =96 How IRB view issues =
raised ? =20
a.. A short discussion on how the PCB mechanism can be further improved =
to avoid under or over tax deductions=20
E. TAX IMPLICATION ON BENEFITS IN KIND (BIK) PROVIDED TO EMPLOYEES
a..=20
What is meant by BIK?=20
a.. Ascertainment of the value of BIK=20
a.. Computing value of BIK (Formula method and prescribed value method)=20
a.. BIK administrative concessions =20
a.. Company car and other related benefits (Driver, petrol, etc)=20
a.. Free petrol usage =96 Current IRB=92s position =20
a.. Household furnishings, apparatus & appliances =20
a.. Employers own goods / services provided FOC or at discounted value =
a.. Other taxable benefits =20
a.. Tax exempt benefits (Budget updates)=20
a.. Treatment of telephone / individual leave passage / yearly company =
event=20
F.TAX IMPLICATION ON PERQUISITES PROVIDED TO EMPLOYEES
a.. The distinction between perquisites and BIK=20
b.. Types of perquisites and the tax treatment (Budget updates)
o Employees pecuniary liabilities
o Credit card facilities
o Loan interest
o Recreational club membership
o Tuition or school fees of child
o Insurance premiums
o Gardener, driver, domestic help or guard
o Scholarship
o Waiver of loan or advance
o Interest subsidies on housing, passenger motor vehicle and =
educational loans (Budget updates)
o Monetary / Non Monetary gift vouchers
o Personal computers, telephone, mobile phone, PDA, pager (Budget =
updates)
o Broad band / internet fees (Budget updates)
o Excellent / Long Service / Past Achievement awards
o Professional subscriptions=20
o Income Tax of the employee borne by the employer
G. LIVING ACCOMMODATION BENEFIT PROVIDED BY THE EMPLOYER
a.. Tax treatment of living accommodation benefit provided to =
employees and service directors=20
b.. Computation of value of living accommodation=20
c.. Circumstances in which the value of benefit can be reduced.
H. COMPENSATION FOR LOSS OF EMPLOYMENT
a..=20
Under what circumstances compensation for loss of employment arises? =20
a.. Distinction between payment for compensation and payment for =
gratuity=20
a.. Computation of taxable benefits=20
I. LATEST TAX UPDATES ( INCLUSIVE OF BUDGET 2011 HIGHLIGHTS )=20
a.. New IRB rulings and guidelines on existing tax exempt benefits.=20
b.. Exploring Budget 2010 / 2011 highlights and their relevance to HR =
c.. Proposed GST and its impact on fringe benefits provided by =
employers =20
d.. Current IRB=92s position on selected tax issues with examples
J. QUESTION & ANSWER SESSION =20
Trainer=92s Profile
=20
Mr. Krishnan KSM, a Chartered Accountant by profession is a fellow =
member of the Chartered Institute of Management Accountants (CIMA =96 =
UK) and a member of the Malaysian Institute of Accountants (MIA).=20
=20
He is currently a partner of a firm providing financial training and =
consulting for firms in public practice .He is also an approved tax =
consultant and trainer with extensive experience with International =
accounting firms and MNC=92s.
=20
He has over 30 years of experience in public practice, commerce and =
industry, working in various financial and non-financial disciplines in =
multi-national companies, including extensive overseas exposures. His =
broad business experience covers corporate and international tax =
planning, tax review, audit and investigation and related tax issues.
=20
He has successfully developed effective tax planning strategies for =
several MNC=92s and has numerous research materials and case studies to =
be shared with the seminar participants. Mr. Krishnan KSM is a seasoned =
speaker and has presented papers at numerous national and international =
conferences, seminars and workshops.
=20
Course Fees=20
=20
RM 1080.00 per person (includes Lunch, Tea-Breaks, Course Notes and =
Certificate of Completion)=20
To register, please complete the enclosed form and fax it to 03 7806 =
5913
=20
Organiser/ Contact Persons
=20
Malaysian Export Academy=20
305, Block A, Glomac Business Centre,=20
Jalan SS 6/3, Kelana Jaya,=20
47301 Petaling Jaya, Selangor
=20
Tel : 03 7806 5595 / Fax: 03 7806 5913
Email : shareenshasha@gmail.com
Contact Person: Shareen
Disclaimer: If this mail has been sent to you by mistake or if you =
prefer not to receive any future emails on Training Program from us, =
please reply this e-mail with "REMOVE" in the subject line. We apologize =
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Anti-SPAM Policy Disclaimer: Mail cannot be considered spam as long as =
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=20
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