[Online, NEW] Preparation of Capital Statement and Tax Audit
Course Information
  • 09-Sep-2022
  • Online
  • Thilles Wary
  • English
  • RM 700
  • 9:00am - 5:00pm

When businesses and professionals are subject to income tax audits or investigations, many are unprepared for the scrutiny they would be subject to.  In this regard, capital statement has become one of the most common investigation methods used by the Inland Revenue Board (IRB) to detect under-reporting of income.  By reviewing an individual’s Capital Statement, the IRB is able to compare the increase of one’s net assets in a particular year to the individual’s net income. Suspicion of under-reported income may arise if the two figures do not jibe, in which case, the individual may then have to pay additional taxes and penalties.

 

In this training, you will learn how to prepare a capital statement properly.  Equally importantly, you will be exposed to the greater context of tax audit and liaison/ negotiation methods with the tax officers.

 

 

[02] SEMINAR OBJECTIVES

- Understand tax audits and investigation activity that the Inland Revenue Board carries out

- Learn what makes up a Capital Statement and the key elements/ components of one

- Learn ways to prepare and complete the various forms and other documents demanded by Inland Revenue

- Be adept in presenting income determination, assets and liabilities, and estimate of living expenses

- Pick up ideas in the negotiation approach with the tax authority

- Maintain proper records, accounts, and documentation

 

 

[03] WHO SHOULD ATTEND

• Business Owners

• Partners, Directors, and LLP Partners
• Finance Directors, Accountants & Auditors

• Doctors, Lawyers, Investors and other Professionals

 

 

[04] METHODOLOGY

Interactive lectures plus exercises, case studies and group discussions

 

 

[05] DATE, TIME & FEE

 

Date:   9 September 2022 (Fri)

Time:   9.00am - 5.00pm

Mode:  Online/ Interactive

 

[HRD Corp Claimable]

 

Fee:

- Normal Fee   -    RM 700

 

>> Fee includes Course Notes & Certificate of Completion and 6% Service Tax

 

** OFFER **

- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.

 

 

[06] COURSE OUTLINE

 

8.30am            Registration

 

9.00am            [01] Capital Statements

                                - What is a Capital Statement?

                                - Why are Capital Statements Important?

                                - Common Issues when Preparing Capital Statements

                                - Methods used in Preparing a Capital Statement

 

9.30am            [02] Preparation of Capital Statement

                                - Form CP102

                                - Form CP103

                                 - Capital Statement Formula

                                 - Steps in Preparing the Capital Statement

 

10.30am          Morning Tea Break

 

10.50am          [03] How to Calculate the Net Worth of a Taxpayer

 

11.30am          [04] Assets & Liabilities

                                - List of Items to be included in a Capital Statement

 

12.30pm          Lunch Break

 

1.30pm            [05] Identifying Expenses

                                - As per the List of Expenses in CP102

                                - Incomes to be Listed – Details

                                - Who are the Target Groups?

 

2.30pm            [06] Tax Negotiation

                                - Tax Settlement – Strategies

                                - Dealing with Tax Officers

                                - Negotiation Techniques

 

3.30pm            Afternoon Tea Break

 

3.50pm            [07] Tax Audit Framework

                                - What is Tax Audit?

                                - Desk Audit/ Field Audit

 

4.30pm            [08] How is Tax Audit Carried Out?

                                - Offence and Penalties

                                - Payment Procedure

                                - Appeal

 

5.00pm            Questions & Answers

                         End of Training

 

 

[07] TRAINER PROFILE

 

THILLES WARY

Approved Tax Agent, Tax Specialist 

HRDF Certified Trainer

 

Thilles is a tax accountant and a Tax Agent approved under Section 153 (3) (c) of the Income Tax Act (ITA), as well as an associate member of CTIM, the Chartered Tax Institute of Malaysia.

Thilles graduated from HELP University in 2006 with a BA HONs in Accounting and Finance and subsequently, a Master of Business Administration (MBA) Finance, General from the University of Southern Queensland in 2013. She is also a HRDF Certified Trainer

She specialized in providing tax preparatory and advisory works, including financial accounting for her clients. Prior to starting her own firm, she worked in various capacities including being a Tax Senior and local tax firms and an oil & gas MNC.

She is known for her ability to provide specific business tax solutions to business owners. Such customized tax solutions have greatly eased the process of managing & planning tax assessment. Her ability to explain a tax issue in an easy-to-understand manner to anyone, including a lay person, has won her endorsements.

 

 

[08] ENQUIRY & REGISTRATION

 

Enquiry: Yes@sst2u.com

Contact:

- General (03 - 5888 7357)

- Teo (011 - 3178 9203)

- Logesh (012 - 503 0346)

- Siti (012 - 383 8603)

- Han (019 - 323 0507)