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Withholding Tax on Cross Border Transactions

Recent Changes and Developments

Expert Speaker Ravi Balakrishnan

MYR901.00 (including SST)

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Overview

Globalisation is driving corporations to explore new markets for growth opportunities and increase their cross border transactions. Are you able to confidently apply the latest withholding tax concepts in your daily business operations?

The Budget 2018 and the recent Budget 2019 and the recently updated Public Ruling have revamped the withholding tax rules by widening the ambit of income derived from non-residents subjected to withholding tax. Understand the practical issues arising from the latest changes to withholding tax to avoid non-compliance penalties and reduce the cost of doing business.

Designed specifically for finance and accounting leaders, this programme provides you with withholding tax concepts, calculations and best practices on reporting. Illustrated with practical examples and case studies, you will walk away with the knowledge to rightly apply withholding tax and key considerations for processing payments/invoices to non-residents.

What You Will Learn

At the end of the workshop, you will:

  • Obtain a comprehensive and detailed analysis of key withholding tax issues and pitfalls to avoid
  • Understand how you can improve your compliance to withholding tax laws
  • Get practical tips on how to correctly determine withholding tax payments
  • Learn how to minimise withholding tax exposure and avoid costly tax penalties

Programme Outline

  • Special Classes of Income including Technical Fee
  • Rental of Movable Properties
  • Royalty and the expanded definition
  • Interest Income
  • Contract Payment and mechanism for deduction of withholding tax from final tax
  • Public entertainer
  • Other income derived by non-residents
  • Withholding Tax impact on Reimbursements of Out-Of-Pocket Expenses
  • Derivation Rules for income of non-residents
  • Exemptions from withholding tax in certain cases
    • for companies in Less Developed Areas
    • for qualifying activities in Treasury Management Centres
  • Consequences of non-compliance of withholding tax
  • Impact on claiming Capital Allowances
  • Public ruling on Withholding Tax
  • Brief on case laws involving withholding tax on royalty and management fees
  • Recent Budget changes on withholding tax and cross border transactions
  • Brief Overview of Permanent Establishments (PE), Double Taxation Agreements and related issues
    • Procedure for reduced withholding tax rates under Double Taxation Agreements
    • Overview of Base Erosion and Profit Shifting (BEPS) project and related issues
  • Brief overview of impact of Sales and Service Tax (SST) on payments on imported services and differences with withholding tax payments

Expert Speaker

Ravi Balakrishnan is a Fellow Member of The Association of Chartered Certified Accountants (FCCA), an associate member of the Chartered Tax Institute of Malaysia (ATII) and a Chartered Accountant (CA) of The Malaysian Institute of Accountants (MIA). He has worked with a leading accounting firm specialising in taxation services and later in the commercial sector with diversified global businesses where he gained vast corporate tax experiences including cross border transactions and tax incentives.

Ravi is an associate of TraTax.

He has been teaching for many years and prepares students for professional examinations.  He conducts public and private seminars on various topics for corporate and personal tax and provides in-house training and workshops tailored for business needs. Ravi was also a representative member of the GST Technical Committee at the Federation of Malaysian Manufacturers (FMM).

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