Withholding tax is an important tax collection mechanism within the Malaysian income tax system. Understanding the implications of the recent Budget 2017 changes in relation to withholding tax is crucial in ensuring proper compliance with the Income Tax Act. This workshop will cover the practical aspects, penalty provisions and the relevant public rulings issued by IRB in relation to withholding tax.
At the end of the workshop, participants will be able to understand:
• The latest developments on withholding tax in Budget 2020
• The types of payments subjected to withholding tax
• How and when payment to non-residents are subjected to withholding tax
• What the penalties are for non-compliance
• The scope of the new tax audit framework
WHO SHOULD ATTEND
• Tax Practitioners
• Accountants and Auditors
• Finance Directors, Chief Financial Officers, Managers and Executives
• Compliance Officers and Business Advisors
Remote Online learning – interactive virtual classroom, with discussions
Session 1: INTRODUCTION, RESPONSIBILITY OF PAYER
• Overview of the scope and rates of withholding tax
• Responsibilities of the payer
• Non-deductibility of expenses and disallowed capital expenditure
Session 2: ROYALTY S109, INTEREST S109C
• Withholding tax for royalty payments - with focus on the thin lines in interpreting the statutory definition of royalty
• Withholding tax for interest payments to non-residents
Session 3: SPECIAL CLASSES OF INCOME (109B), CONTRACT PAYMENTS (S107A)
• Withholding tax for special classes of income (section 4A) - the wide statutory definition, and withholding tax on the related disbursements and reimbursements
• Withholding tax for contract payments & the non-finality. Public Entertainer fee (S109A), Public Ruling 11/2018 & Practice Note 1/2018. Practice Note 1, 2, and 3, Exemption Order (No.9) Order 2017.
Session 4: OTHER GAINS OR PROFITS, RE-GROSSING, RESIDENCE STATUS OF THE PAYEE
• Withholding tax for payments in respect of other gains or profits (S109F) - the scope and its practical implications, Public Ruling 1/2010
• Permissibility of re-grossing of payments. What is Permanent Establishment?
• Rules for determination of residence status of the payee
• Additional tax or tax refund for the payee (tax overpaid/underpaid due to misunderstandings over residence status)
• Brief overview of the role of tax treaties
Mr. Santhanasamy Subbiah
Santhanasamy Subbiah has more than 30 years of experience in corporate world on accounting and finance practices. His experiences in various industries include that of Banking, Manufacturing, Education, Insurance, Security, Plantation, Shipping, Shared Services and Freight Forwarding. He was also with the Ministry of Works engaged in special projects funded by the World Bank.
Besides being in the corporate world he has lectured MBA programmes for the following Universities:- Open University Malaysia, University of New Castle Australia, Herriot Watt University UK, Asia Pacific International University and was a Dean for the School of Accounting and Finance with a local University.
As a self-starter with his vast experience in numerous industries he is today a trainer and a principal consultant on GST for numerous of companies. He is no novice to GST. He has worked closely with Price WaterHouse Coopers on matters pertaining to GST since 2005 and contributed valuable inputs during the meeting with Ministry of Finance on matters pertaining to the implementation of GST in Malaysia.
His specializes on the Understanding, Implementation and Hands-On training programs on Goods and Services Tax for numerous industries such as manufacturing, oil and gas, construction, logistic, retail, airlines, IPTA and many others. He is a GST trainer of Malaysian Institute of Accountants, Malaysian Institute of Insurance and Malaysia Institute of Corporate Governance. Santhanasamy holds an MBA majoring in Finance from University Putra Malaysia. He is a member of the Chartered Accountant of Malaysia, Chartered Management Accountant of UK, and an Associate Member of the Malaysian Institute of Management. He is a Certified Trainer of HRDF. He is a certified GST Tax Agent of Ministry of Finance.
Digital Certificate of Attendance will be provided by the Malaysian Export Academy
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