The responsibility and accountability of withholding tax deductions rest with companies making payments to non-residents. Failure to comply with withholding tax laws may lead to penalties, restrictions on tax deductions or even, civil suits filed against the company.
Designed specifically for tax and finance leaders, this one-day workshop will uncover practical strategies to minimise withholding tax. Navigate through the maze of key issues related to withholding tax and cross border transactions. Get practical pointers on how to analyse a transaction for withholding tax obligations. Learn how double tax agreement (DTA) provisions can help mitigate this tax risk. The effectiveness of using a double taxation agreement in cross border assignments and its implications in respect of withholding tax, corporate tax and individual tax obligations will be shared.
Illustrated with practical examples, you will walk away with an understanding of the tax law applicable to withholding tax and the critical issues that should be taken into consideration when entering into agreements with non-residents.
What You Will Learn
- Understand Critical Considerations: When entering into agreements with non-residents and how to mitigate withholding tax risks
- Obtain Business Impact: Develop the analytical skills needed to determine if a transaction has withholding tax obligations
- Get Planning Tips: On how to minimise foreign withholding tax or double taxation through double tax agreements
Who Should Attend
This workshop is suitable for:
- CFO’s and Financial Controllers
- Finance Directors/Managers
- Accounts Managers/Executives/Accountants
- Tax Managers/Professionals
- Business Consultants
- Incomes derived by non-residents that are subject to withholding tax
- Special classes of income (Section 4A of the Income Tax Act, 1967) on services performed in or outside Malaysia and rental of moveable property
- Income from contract payments on projects carried in Malaysia
- Interest & royalty (expansion to the definition)
- Entertainment income (redefinition of public entertainer)
- Other income (Section 4f of the Income Tax Act, 1967)
- Service Fee vs Contract Payments, etc.
- Public Rulings (PR) and Addendums on withholding taxes
- Tax planning and exemptions available on withholding tax
- Compliance issues and penalties
- Practical issues faced by taxpayers
- Inbound and Outbound investments
- Workflow of how to deal with local and overseas tax authorities in regards to withholding taxes
- Sample letter to local and overseas tax authorities on withholding tax matters will be provided
Double Tax Agreements
- The concept of Permanent Establishment – Corporate and Individual tax issues
- Purposes of other relevant articles in DTA
- Business Income vs Non-Business Income
- Reliefs available under DTA
- Case laws and latest developments on withholding tax and updates on existing and new DTAs (including other changes from Budget 2018) and Public Rulings, where applicable will also be covered
- Possible tax audit issues
Sivaram Nagappan has more than 20 years of tax experience and is currently with Deloitte Malaysia. Prior to Deloitte, he headed the tax department of a Group of Malaysian listed companies and also served with 2 other Big Four accounting firms where he gained extensive experience from servicing clients which included large local corporations and multinationals in a wide spectrum of industries.
His involvement in tax engagements with local and foreign companies encompassed various aspects of tax planning strategies/schemes, restructuring of companies, mergers and acquisitions, cross border transactions, repatriation of profits, investment incentives, remuneration packages, tax audit and tax investigation.
He has presented seminars, workshops and training for regulatory bodies and organizations both locally and overseas. His passion for knowledge sharing also extends to conducting lectures in taxation papers for professional examinations in various colleges, institutes and local universities. He is an Associate Member of the Chartered Tax Institute of Malaysia (CTIM), a Chartered Accountant of the Malaysian Institute of Accountants (MIA) and was a Fellow Member of the Association of Chartered Certified Accountants (FCCA).
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