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From: "Tax Planning Issues for Employers and HR Personnel"
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Subject: Tax Planning Issues for Employers and HR Personnel
Date: Fri, 30 Mar 2012 14:56:52 +0800
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Content preview: Malaysian Export Academy (PSMB Registered Class A - Training
Provider No. 1804) Presents TAX PLANNING ISSUES FOR EMPLOYERS AND HR PERSONNEL
16 & 17 April 2012, Mon & Tues, 9 am to 5 pm, Eastin Hotel, Petaling Jaya
[...]
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Malaysian Export Academy
(PSMB Registered Class A - Training Provider No. 1804)
Presents=20
TAX PLANNING ISSUES FOR EMPLOYERS AND HR PERSONNEL
16 & 17 April 2012, Mon & Tues, 9 am to 5 pm, Eastin Hotel, Petaling =
Jaya
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.. Gross salaries / wages / leave pay=20
b.. Fees / commission / bonus / allowances / overtime / gratuity / etc =
c.. Perquisites=20
d.. Benefits in kind (BIK)=20
e.. Living accommodation provided by employer=20
f.. Refunds from unapproved pension funds=20
g.. Compensation for loss of office
B. WHAT ARE DUTIES AND RESPONSIBILITIES OF BOTH THE EMPLOYER AND =
EMPLOYEE WITH REGARD TO INCOME TAX COMPLIANCE.
a.. Recruitment / Retirement of employees=20
b.. Dealing with foreign workers / non-residents=20
c.. Determining resident status for employees=20
d.. Procedures for withholding payments=20
e.. Tax clearance procedures for leaving employees =20
f.. Types of return forms / How to fill up the forms? (Form EA / E / =
BE)=20
g.. Non-compliance consequences=20
h.. Self-Assessment system for individual taxpayers =20
i.. Tax audit on individual tax cases - Current IRB's position=20
C. TAX TREATMENT OF EMPLOYMENT INCOME
a.. Tax treatment of various components of employment income=20
b.. Derivation of Malaysian employment income =20
c.. Duties performed outside Malaysia =20
d.. Pitfalls / traps to be avoided when planning remuneration for =
executives / directors=20
e.. Valuing non monetary and monetary benefits provided to employees=20
f.. Tax exempt allowances, benefits in kind and perquisites (Budget =
updates) =20
g.. Maximizing tax reliefs , rebates and tax exempt benefits given to =
employees=20
h.. Tax treatment of gratuity and compensation paid to employees=20
i.. Tax issues relevant to cross border postings=20
j.. Designing an effective tax remuneration system - win win formula
D. PAYROLL AND NEW PCB MECHANISM (LATEST UPDATES)
a.. New PCB Mechanism ( 2009 onwards =20
b.. Deduction rules =20
c.. Distinction between Normal and Additional Remuneration - Impact =
on PCB calculation =20
d.. Disclosing the taxable and tax exempt benefits - designing an =
effective reporting format =20
e.. Exploring the practical issues faced by HR in implementing the new =
rules =20
f.. Non compliance of PCB rules / PCB tax audit - How IRB view issues =
raised ? =20
g.. A short discussion on how the PCB mechanism can be further =
improved to avoid under or over tax deductions
E. TAX IMPLICATION ON BENEFITS IN KIND (BIK) PROVIDED TO EMPLOYEES
a.. What is meant by BIK?=20
b.. Ascertainment of the value of BIK=20
c.. Computing value of BIK (Formula method and prescribed value =
method)=20
d.. BIK administrative concessions =20
e.. Company car and other related benefits (Driver, petrol, etc)=20
f.. Free petrol usage - Current IRB's position =20
g.. Household furnishings, apparatus & appliances =20
h.. Employers own goods / services provided FOC or at discounted value =
=20
i.. Other taxable benefits =20
j.. Tax exempt benefits (Budget updates)=20
k.. Treatment of telephone / individual leave passage / yearly company =
event
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.. Under what circumstances compensation for loss of employment =
arises? =20
b.. Distinction between payment for compensation and payment for =
gratuity=20
c.. Computation of taxable benefits
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's position on selected tax issues with examples
J. QUESTION & ANSWER SESSION =20
Trainer's Profile
=20
Mr. Krishnan KSM, a Chartered Accountant by profession is a fellow =
member of the Chartered Institute of Management Accountants (CIMA - 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's.
=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's 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
=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
Contact : Hj. Moh'd Ali - / H/p 010 50 88 900=20
Tel: 03-7806 5595 / 96 | Fax: 03-7806 5913 | Email : =
jinna1427@gmail.com
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 =
for any inconveniences caused. Thank you for your time.
Anti-SPAM Policy Disclaimer: Mail cannot be considered spam as long as =
we include contact information and a remove link for removal from this =
mailing list. If this e-mail is unsolicited, please accept our =
apologies. Further transmissions to you by the sender may be stopped at =
NO COST to you.
------=_NextPart_001_0D85_01CD0E85.57B5E4B0
Content-Type: text/html;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
Malaysian=20
Export Academy
(PSMB Registered=20
Class=20
A -=20
Training Provider No. 1804)
Presents
TAX PLANNING ISSUES FOR EMPLOYERS AND HR=20
PERSONNEL
16 & 17 April 2012, Mon =
& Tues,=20
9 am to 5 pm, Eastin Hotel, Petaling =
Jaya
Certificate of attendance awarded for those =
who=20
complete the course
(Claimable under the SBL=20
Scheme)
Introduction
The =
increasing cost=20
of doing business has prompted many organizations to critically look at =
the=20
staff related costs and its impact on the bottom line. Understanding and =
taking=20
advantage of the various tax provisions can create additional value by=20
optimizing tax savings for both employers and employees. Employee =
remuneration=20
structure should be periodically reviewed to ensure that it is both tax=20
effective and motivational.
The course focuses on =
exploring the=20
various practical issues in structuring a tax effective remuneration =
package=20
which will provide comfort and satisfaction for both employers and =
employees.=20
The course will also provide an opportunity for you to =
learn,=20
understand, apply and manage the various tax planning issues relevant to =
an=20
employment situation. The program will cover the budget 2011 and the =
latest=20
developments and their impact on the =
business.
What you will=20
gain?
o Knowing the =
duties=20
and responsibilities of both employer and employee with regard to=20
tax
o Can employer claim full deductions for all =
monetary=20
and non-monetary benefits provided to employees?
o =
Types of=20
BIK, allowances and perquisites that attract tax for=20
employees
o Identify and explore the various tax =
exempt=20
benefits for employees
o Knowing the various tax =
reliefs=20
and rebates given to employees
o Understanding the =
new PCB=20
mechanism and its related implementation issues
o =
Tax=20
considerations for cross-border postings
o =
Designing a=20
statement of remuneration incorporating taxable and tax exempt=20
benefits
o Latest tax developments relevant to =
employment=20
Who Should=20
Attend?
HR Managers & =
Executives
Company=20
Directors
Managers
Accountants / Auditors
Tax Agents /=20
Advisors
Finance & Administrative Executives / Assistants =
Business=20
Entrepreneurs
Course =
Outline
A. =20
WHAT CONSTITUTES TAXABLE BENEFITS FOR EMPLOYEES=20
Gross salaries / wages / leave pay=20
Fees / commission / bonus / allowances / overtime / gratuity / etc =
Perquisites=20
Benefits in kind (BIK)=20
Living accommodation provided by employer=20
Refunds from unapproved pension funds=20
Compensation for loss of office
B. WHAT ARE DUTIES AND RESPONSIBILITIES OF BOTH THE =
EMPLOYER AND=20
EMPLOYEE WITH REGARD TO INCOME TAX COMPLIANCE.
Recruitment / Retirement of employees=20
Dealing with foreign workers / non-residents=20
Determining resident status for employees=20
Procedures for withholding payments=20
Tax clearance procedures for leaving employees =20
Types of return forms / How to fill up the forms? (Form EA / E / =
BE)=20
Non-compliance consequences=20
Self-Assessment system for individual taxpayers =20
Tax audit on individual tax cases - Current IRB=92s =
position
C. TAX TREATMENT OF EMPLOYMENT =
INCOME
Tax treatment of various components of employment =
income=20
Derivation of Malaysian employment income =20
Duties performed outside Malaysia =20
Pitfalls / traps to be avoided when planning remuneration for =
executives /=20
directors=20
Valuing non monetary and monetary benefits provided to employees=20
Tax exempt allowances, benefits in kind and perquisites (Budget=20
updates) =20
Maximizing tax reliefs , rebates and tax exempt benefits given to=20
employees=20
Tax treatment of gratuity and compensation paid to employees=20
Tax issues relevant to cross border postings=20
Designing an effective tax remuneration system =96 win win =
formula
D. PAYROLL AND NEW PCB MECHANISM (LATEST=20
UPDATES)
New PCB Mechanism ( 2009 onwards =20
Deduction rules =20
Distinction between Normal and Additional Remuneration - =
Impact on=20
PCB calculation =20
Disclosing the taxable and tax exempt benefits =96 designing an=20
effective reporting format =20
Exploring the practical issues faced by HR in implementing the new =
rules =20
Non compliance of PCB rules / PCB tax audit =96 How IRB view =
issues=20
raised ? =20
A short discussion on how the PCB mechanism can be further =
improved to=20
avoid under or over tax deductions
E. TAX IMPLICATION ON BENEFITS IN KIND (BIK) PROVIDED TO=20
EMPLOYEES
What is meant by BIK?=20
Ascertainment of the value of BIK=20
Computing value of BIK (Formula method and prescribed value =
method)=20
BIK administrative concessions =20
Company car and other related benefits (Driver, petrol, etc)=20
Free petrol usage =96 Current IRB=92s position =20
Household furnishings, apparatus & appliances =20
Employers own goods / services provided FOC or at discounted=20
value =20
Other taxable benefits =20
Tax exempt benefits (Budget updates)=20
Treatment of telephone / individual leave passage / yearly company =
event
F.TAX IMPLICATION ON PERQUISITES PROVIDED TO=20
EMPLOYEES
- The distinction between perquisites and BIK=20
- Types of perquisites and the tax treatment (Budget=20
updates)
o Employees pecuniary=20
liabilities
o Credit card=20
facilities
o Loan interest
o =
Recreational club membership
o Tuition or school =
fees of=20
child
o Insurance premiums
o =
Gardener, driver, domestic help or guard
o =20
Scholarship
o Waiver of loan or=20
advance
o Interest subsidies on housing, =
passenger motor=20
vehicle and educational loans (Budget updates)
o =
Monetary=20
/ Non Monetary gift vouchers
o Personal =
computers,=20
telephone, mobile phone, PDA, pager (Budget =
updates)
o =20
Broad band / internet fees (Budget updates)
o =
Excellent /=20
Long Service / Past Achievement awards
o =
Professional=20
subscriptions
o Income Tax of the employee borne =
by the=20
employer
G. LIVING ACCOMMODATION BENEFIT PROVIDED BY THE=20
EMPLOYER
- Tax treatment of living accommodation benefit provided to =
employees and=20
service directors=20
- Computation of value of living accommodation=20
- Circumstances in which the value of benefit can be =
reduced.
H. COMPENSATION FOR LOSS OF =
EMPLOYMENT
Under what circumstances compensation for loss of =
employment=20
arises? =20
Distinction between payment for compensation and payment for =
gratuity=20
Computation of taxable benefits
I. LATEST TAX UPDATES ( INCLUSIVE OF =
BUDGET 2011=20
HIGHLIGHTS )
- New IRB rulings and guidelines on existing tax exempt =
benefits.=20
- Exploring Budget 2010 / 2011 highlights and their relevance =
to HR=20
- Proposed GST and its impact on fringe benefits provided by =
employers =20
- Current IRB=92s position on selected tax issues with =
examples
J. QUESTION & ANSWER SESSION =20
Trainer=92s=20
Profile
Mr. Krishnan KSM, a Chartered=20
Accountant by profession is a fellow member of the Chartered Institute =
of=20
Management Accountants (CIMA =96 UK) and a member of the Malaysian =
Institute of=20
Accountants (MIA).
He is currently a partner of a firm =
providing=20
financial training and consulting for firms in public practice .He is =
also an=20
approved tax consultant and trainer with extensive experience with =
International=20
accounting firms and MNC=92s.
He has over 30 years of =
experience in=20
public practice, commerce and industry, working in various financial and =
non-financial disciplines in multi-national companies, including =
extensive=20
overseas exposures. His broad business experience covers corporate =
and=20
international tax planning, tax review, audit and investigation and =
related tax=20
issues.
He has successfully developed effective tax =
planning=20
strategies for several MNC=92s and has numerous research materials and =
case=20
studies to be shared with the seminar participants. Mr. Krishnan KSM is =
a=20
seasoned speaker and has presented papers at numerous national and =
international=20
conferences, seminars and workshops.
Course Fees
RM =
1080.00 per=20
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=20
5913
Organiser/ =
Contact=20
Persons
Malaysian Export=20
Academy 305, Block A, Glomac Business Centre,
Jalan SS =
6/3,=20
Kelana Jaya,
47301 Petaling Jaya, Selangor
Contact : Hj. Moh'd Ali - / H/p 010 50 88 900 =
Tel: 03-7806 5595 / =
96 | Fax:=20
03-7806 5913 | Email : jinna1427@gmail.com
=
Disclaimer: If this mail has been sent to you by mistake or if =
you prefer=20
not to receive any future emails on Training Program from us, please =
reply this=20
e-mail with "REMOVE" in the =
subject line.=20
We apologize for any inconveniences caused. Thank you for your=20
time.
Anti-SPAM Policy Disclaimer: Mail cannot be considered =
spam as long=20
as we include contact information and a remove link for removal from =
this=20
mailing list. If this e-mail is unsolicited, please accept our =
apologies.=20
Further transmissions to you by the sender may be stopped at NO COST to=20
you.