With step-up enforcement - both in frequency and veracity nowadays, proper tax risk management is critical to prevent unnecessary tax penalty due to non compliance of Income Tax Acts 1967. Withholding tax is an area that companies often overlook but it cannot be
ignored because of payment to non-residents for their services or use of their properties are becoming more common. Due to the widening of the definition of royalty and various other taxable services, careful identification and correct tax treatment are crucial. Various scenarios and the practical issues arising will be discussed and clarified.
The objective of the course is to create awareness of the applicability of withholding tax to minimise tax penalty.