Conducting a business would inevitably involve taxation. Whether Corporate Tax or SST, proper documentation is required when dealing with the tax authorities. This includes providing documentation for deductions on Corporate Tax.
Failure to provide the requisite documentation when required would invite action from the authorities, which may include hefty fines. It is therefore crucial for businesses to ensure a proper, adequate and systematic documentation of all transactions to comply with the tax laws and regulations.
Learn how you can develop an effective tax administration and maintain proper accounting records, to not only avoid penalties for non-compliance, but to
also ensure you do not face difficulties with claims for deductions and input tax recovery.
[B] COURSE OBJECTIVES
• Understand the responsibilities and obligations of the taxpayer
• Ensure proper Documentation is maintained in accordance with Income Tax and SST regulations
• Ensure proper Records are maintained in accordance with Income Tax and SST regulations
• Ensure your company complies with all submissions
• Understand how Income Tax and SST impacts your business
• Be ready for Tax and SST audits
[C] WHO SHOULD ATTEND
• Financial Controllers
• General Managers
• Corporate Finance Advisors
• Company Secretaries
• Corporate Planners
• Accounts, Finance, Audit and Administrative Executives
• Internal Audit Executives
[D] DATE, TIME & FEE
DATE: 5 - 6 January 2021 (Tue - Wed)
TIME: 9am - 5pm
MODE: Online/ Interactive
- Early Bird Offer (before 14 Dec 2020) - RM 800
- Special Offer (before 29 Dec 2020) - RM 900
- Normal Fee - RM 1000
>> Fee includes IAAP Certificate Assessment, Course Notes, Exercises, Assignments, Certificates, Transcript & 6% Service Tax
(i) 15% overriding discount for SST2u Loyalty Card members
[E] COURSE OUTLINE
TAX ADMINISTRATION UNDER INCOME TAX AND SST
• Overview of Income Tax and SST
- Roles & responsibilities of taxpayers
- How Income Tax and SST affects your business
- Impact and consequences of legislation
- Taxpayer rights/obligations under Self-assessment and SST
• Filing and payment procedures
- Payment of tax under instalment schemes
- Payment under the SST system
- Estimates of tax/revision of tax estimates
- Penalty provision for failure to furnish estimates/submit tax returns
- Submission of Borang C, E, CP204 and SST02/02A
• Maintaining proper accounting records under Income Tax and SST
- What constitutes sufficient records
- Income tax guidelines to keeping sufficient records
- Customs guide on record keeping
- IRB public ruling and SST guideline
- What supporting documents need to be kept
- Consequences of failing to keep sufficient records
- Area of focus by IRB and Customs
• Tax Audit and Investigations
- Types/objectives of IRB audit
- Trigger points for audits
- How taxpayers are selected for audits
- Area of focus in field audit/Indication of fraud
- Penalty provision for omission/non-disclosure
- The Director General’s sources of Information
• Concept of Reasonable Care [Section 114 (1A) ITA]
- What is “providing reasonable care & assistance”?
- IRB public ruling no: 7/2000 on providing reasonable care and assistance
- Exercising Reasonable Care in practice to ensure Compliance
[F] SPEAKER PROFILE
C.A. (M), FCCA, FFA
Tharmaseelan C.A (M), F.C.C.A, MIAE has vast experience in the field of Accounting, Taxation, Internal Control Systems and Finance for almost 15 year in an international accounting firm and local consultancy firms.
His career spanned across wide working experience and exposure in Accounting, Taxation, implementing Internal Control Systems and Finance in consultancy firms, a leading hotel in Langkawi and in a leading hotel training college. He has also developed Business, Accountancy and IT Programs with various colleges, and these programs are validated by foreign universities and professional Bodies.
He was attached to a medium size audit firm as a Senior Audit Assistant before he moved over to an established international tax company where he held the position as a Tax Senior. He then joined an established professional firm as the Tax Manager where he oversaw the computation, submission and resolving tax issues for clients.
His tenure with an established Consultancy as a Senior Consultant gave him the opportunity to designed internal control systems & implemented it. He also advised his clients on compliance with accounting standards and tax regulations. His last position prior to going into practise was as the Associate Director of The Business School where he was responsible for restructuring the Busines School and identifying suitable courses and obtaining accreditation from various bodies and universities.
He is currently in practice offering his expertise and knowledge to corporate and professional clients, locally and worldwide. His specializations are in designing and setting up of Accounting, Taxation, Finance, Internal Control and Operational Systems as well as in performing Operational Audits. His well-esteemed clients include those in the hospitality, education, manufacturing and service-based industries.
He has trained personnel from numerous private sector companies and the public sector, including MK Land Berhad, KULIM HI TECH Berhad, including, Majlis Bandaraya Shah Alam, Permodalan Nasional Berhad, Institut Jantung Negara, Tradewind Hotel Group, Bintulu Development Authority, Ritz Carlton Hotel, Putrajaya, IOI Resort, Majlis Perbadanan Sibu, Lembaga Urusan Tabung Haji, Tenaga Cable Industries, Yeo Hiap Seng, Kobe Precision, Eon Finance, International Islamic University, Petroliam Nasional Bhd, Progressive Insurance Bhd, Subang Jaya Medical Centre, The MINT Hotel, KLIA Pan Pacific Hotel, Bank Rakyat, Toshiba Electronics, UDA Holdings Bhd, Komag USA, Bank Industri & Teknologi (M) Bhd, PPB Group and TH Plantations to name a few.
As a qualified Accountant, he is actively involved in conducting audit and financial courses. His experience brings him to faraway countries such as Vietnam, Brunei, Nepal, Uganda and Rwanda to train Accounting and Financial Professionals.
He is also a regular training facilitator for
1. Malaysian Institute of Accountants
2. Certified Public Accountants of Australia
3. Malaysian Institute of Management
[G] ABOUT IAAP
The International Association of Accounting Professionals (IAAP) has been established to provide internationally recognised qualification for accounting professionals and, through that recognition, to enhance their status in the financial and business communities. Holders of a current IAAP membership certificate can enjoy the benefits of this international recognition in their careers. The IAAP ‘Accounting Professional’ also enjoys the prestige and status that is
conferred by this title.
IAAP is a wholly owned subsidiary of the prestigious International Association of Bookkeepers which is headquartered in the UK. The International Association of Bookkeepers (IAB) has over 10,000 members across 60 countries, and is one of the most prestigious not-for-profit organisations for professional bookkeepers in the world.
Regulated in England by Ofqual (the Office of Qualifications and Examinations Regulation - a non-ministerial government department that regulates qualifications, exams and tests), the IAB is both a government-approved and a statutory supervisory body. Setting world-class standards, IAAP and the IAB offer students worldwide the chance to gain the very best financial qualifications – as well as lifelong skills.
[H] ENQUIRY & REGISTRATION
Teo (011 - 3178 9203)
Logesh (012 - 503 0346)
Siti (012 - 383 8603)
Han (019 - 323 0507)