The submission of Return Forms is more than just the declaration of income and the Director General does more than merely verifying the tax chargeable. The data provided by the taxpayer enables Revenue to determine the accuracy of all that is stated and helps him identify areas that require more scrutiny.
This workshop guides the participant through two important aspects of the forms B, C, and E. First, the actual details that need to be stated and what each particular section demands will be explained. Secondly, the impact of the information furnished, the relationship of one detail with another, and how Revenue would harness such information for possible tax audits or investigation will also be explored.
KEY TOPICS COVERED
Completion of Form B
• Income details
• Claims and reliefs
• Computation of liability
• Details of accounts; reconciliation of data
Completion of Form C and Form R
• Summary of liability and payment position
• Group relief for losses
• Analysis of financial and accounting position
• Related party transactions
• Directors, shareholders and shareholdings
• Section 108, impact of Single-Tier Tax System
Employers and Forms E & EA
• Remuneration categories
• Exempt income and benefits
• MTD as the final liability
• Section 83 and employers’ duties
• Working overseas and special employer categories
Highlights of Budget 2016
AGREED BY LEMBAGA HASIL DALAM NEGERI MALAYSIA (LHDNM)
The topic discussed in the workshop was agreed upon by LHDNM and the CPD hours are recognised by Ministry of Finance as Continuing Professional Development (CPD)/Continuing Professional Education (CPE) points for the application and renewal of tax agent license.
At the end of the workshop, participants will:
• understand the basis and the implications behind completing the returns
• be able to appropriately complete their submission
• recognise the challenges and learn how to deal with it
Mr Vincent Josef
Vincent began his career with the Inland Revenue Board (IRB) in 1968 and for the past 35 years’ has served in various branches. Prior to his retirement, he was with the operations division of the board headquarters where he held the position of assistant director general.
In addition, he has broad experience in lecturing at IRB events and Malaysian professional institutions including the CPA Australia, Chartered Tax Institute of Malaysia, Malaysian Institute of Accountants, Federation of Investment Managers Malaysia, MAICSA and Commerce
Clearing House (CCH) Malaysia.
Accountants, tax practitioners, company directors and managers, financial controllers and company secretaries