MIDA Tax Exemptions under Section 14(2) Customs Act 1967 and Related SST Rules

  • 19-04-2024
  • Dorsett Grand Subang

OBJECTIVES

The Royal Malaysian Customs Department (RMCD) provides various tax incentives to the business community to lower their cost of doing business in Malaysia in order to be competitive globally. The manufacturing sector in particular is granted tax exemptions under the Customs Act 1967 and Sales Tax Act 2018 on imported and locally purchased raw materials / components, packing / packaging materials, manufacturing aids, machineries, equipment & spare parts used in the manufacturing process.

It is surprising that organizations which are entitled to claim the tax exemptions are not doing so. This course caters primarily for manufacturers registered under the Sales Tax Act 2018 and non-registered manufacturers located in Special Areas (FIZ and LMW). Manufacturers will be exposed to the facilities and incentives available to them, application procedures, documentation and the conditions required to be satisfied.

 

BENEFITS

  • Understanding of the guidelines, regulations and procedures related to duty / tax exemption on raw materials / components and machinery / equipment;
  • Self-declaration mechanism applicable to sales tax exemption on purchase of machinery, equipments and spare parts used in manufacturing.
  • Application of Approved Major Exporter Scheme (AMES) a recent introduction on the acquisition of raw materials, components, packing and packaging materials by non registered manufacturers.
  • Claiming of tax exemptions under Customs Duties (Exemption) Order 2017 (CDEO 2017) and Sales Tax (Persons Exempted from Payment of Tax) Order 2018
  • Treatment of sales tax on sales to  PCA / LMW / FIZ / DA / Overseas under Sales Tax Act 2018;
  • Application for sales tax exemption under Schedule A, B & C of the Sales Tax (Persons Exempted from Payment of Tax) Order 2018 (STEO 2018)

 

WHO SHOULD ATTEND?

This course is suitable for manufacturers (registered and non registered), forwarding agents, logistics companies and accounting / finance manages.   

 

METHODOLOGY

Remote online training – Power Points Presentation, Discussions and Case Studies.

 

KEY CONTENTS

  1. OVERVIEW OF TAX EXEMPTIONS UNDER CUSTOMS LEGISLATIONS
  2. INTRODUCTION TO  MIDA EXEMPTIONS AND SECTORS ELIGIBLE
  3. ORGANIZATIONS QUALIFIED FOR TAX EXEMPTIONS
  4. GUIDELINES ON TAX EXEMPTIONS FOR MANUFACTURING SECTOR:
  5. CHANGES IN TAX EXEMPTION POLICY
  6. TYPES OF TAX EXEMPTIONS
  7. APPLICATION PROCEDURES FOR TAX EXEMPTIONS (Form SPM / SPM1)
  8. CONDITIONS IMPOSED BY MIDA/ RMCD ON TAX EXEMPTIONS
  9. IMPLEMENTATION, ENFORCEMENT AND SUPERVISION BY RMCD ON EXEMPTION HOLDERS
  10. RESPONSIBILITIES OF EXEMPTION HOLDERS
  11. COMMON MISTAKES / NON-COMPLIANCE BY EXEMPTION HOLDERS 
  12. TAX EXEMPTIONS UNDER CUSTOMS DUTIES EXEMPTION ORDER 2017 and SALES TAX (PERSONS EXEMPTED FROM PAYMENT OF TAX) ORDER 2018
  13. TREATMENT OF MISCELLANEOUS ITEMS
  14. BRIEF OUTLINE SALES TAX CONCEPT
  15. APPLICATION FOR SALES TAX EXEMPTIONS
  16. SALES TAX EXEMPTIONS ON SUBCONTRACT WORKS & RELATED PROCEDURES
  17. OFFENCES AND PENALTIES
  18. REMISSION OF CUSTOMS DUTY AND SALES TAX
  19. REVIEW AND APPEAL PROCEDURES

 

CERTIFICATE OF PARTICIPATION

 

LINKS

Register Here
Download Brochure

 

Organizer:

Robert Siva

  • Time : 9:00 am - 5:00 pm (Asia/Kuala_Lumpur)

Registration Deadline Expired!!

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