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Pioneer Status, Investment Tax Allowance, Export Allowances and Better Management of Tax Exposure

Expert Speaker Vincent Josef

MYR901.00 (including SST)

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EARLY BIRD SPECIAL:  Enjoy 10% Savings if you Register by 22 February 2019 Use code FEB22 at checkout.

Overview

The Government’s focus over recent years has not only been the stimulation and expansion of the national economy but also to raise the country’s activities to a higher technological and industrial plane. Various opportunities have been made available to enable companies reduce their tax exposure through additional deductions or exemptions including avenues that do not require further capital commitment. 

Some of these benefits may not be commonly known and this advanced-level seminar will guide participants through the entire related range from eligibility, conditions, application, and utilisation.  Despite the topic-complexities involved, issues will be explored in an easily understood manner with supporting case studies and computations.  The comparative advantages and differences will also be explained.  

What You Will Learn

At the end of the workshop, you will:

  • Learn how to optimize exposure to tax liability, the avenues may not be as complicated as feared
  • Discover that there are tax-reduction opportunities apart from common expenses charged to the P & L Account
  • Know how to compute the benefits and incentives available and to apply them against income that would be brought to tax
  • Learn how to apply for these benefits from the relevant authorities

Who Should Attend

This workshop is suitable for:

  • Directors and Senior Corporate Officers
  • Payroll and Human Resource Managers
  • Accountants and Finance Managers
  • Tax Practitioners

Programme Outline

1) Activities of National and Strategic Importance‚Äč

  • What are some of these activities
  • What are the tax benefits available to them

2) Pioneer Status and Investment Tax Allowance

  • Both the Promotion of Investments Act and the Income Tax Act will be examined, together with the qualifying conditions necessary to enjoy either
  • A comparison to see which is more beneficial since Pioneer Status is time-based and Investment Tax Allowance is related to capital expenditure

3) Double Deductions for Promotion of Exports

  • Understand how expenses that already are permissible as deductions in the Profit & Loss Account can be granted additional deduction
  • The various items that could enjoy this benefit
  • The difference between Further Deductions and Double Deductions

4) Increase in Exports Allowance

  • Why this is particularly attractive to exporters since it is dependant solely on enhanced performance without need for qualifying expenditure
  • Exploring the relevant conditions and method of computation

5) Reinvestment allowance

  • Exploring how certain capital expenditure can enjoy this allowance in addition to the usual Schedule 3 deductions
  • What the crucial D.A.M.E. qualifying conditions are
  • Computing Reinvestment Allowance and setting it off against Statutory Income

6) Transfer Pricing

  • While not an allowance, Transfer Pricing is a method employed in determining transaction-pricing.  This relatively complex topic is one that often attracts attention from Inland Revenue resulting in painful results

7) Other Topics

  • Highlights of Finance Act 2018
    • Restrictions regarding Losses, Group Losses, and Capital Allowance
    • A person’s accounts or financial statements
    • Impact of defining “Research and Development
  • Special Voluntary Declaration Programme
    • The benefits and reduced penalties this programme offers
    • The relevant procedure for application
    • Consequences of not accepting the offer

Expert Speaker

Vincent Josef began his career with the Inland Revenue Board in 1968 and over the next 35 years, he served in various Branches, earning himself a wide command of the numerous demands of Malaysian taxation. Prior to his retirement in 2003, he was with the Operations Division of the Board Headquarters where he held the position of Assistant Director General. With his 47-year presence in taxation, Vincent Josef manages his own practice providing taxation consultancy services on Tax Audits and Investigation matters and “Problem Resolution”. He recently wrote a book “Tax Audit and Investigation Guide – Malaysia” published by Wolters Kluwer and also serves as a Consultant Editor for the Malaysian Master Tax Guide series

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