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5th & 6th February 2024

Taxation and Planning for SMEs Companies

RM1,800.00 RM2,100.00

Companies have to be conversant with tax planning and management, specifically so since the Self-Assessment System demands that all Records and Returns have to be proper and need to comply with the requirements of the Income Tax Act. Tax planning and management is an issue that is receiving close attention from the Inland Revenue Board and its impact on the companies as taxpayers, as it is now the responsibility of the taxpayer to derive the chargeable income and pay the resultant tax thereon.
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    Duration : 14 Hours

    Trainer : Mr. Hari Ramulu

    Location : Suasana Suites Hotel Johor Bahru

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Description

Course Objectives:

By the end of this training program, participants will be able to:

  1. Understand the various types and classes of income relevant to SMEs.
  2. Identify and categorize expenses that impact the calculation of chargeable income.
  3. Explore available exemptions and incentives applicable to small and medium-sized enterprises.
  4. Gain knowledge about capital allowances and their significance in tax planning for SMEs.
  5. Learn how to use this acquired knowledge to determine the chargeable income for their respective companies.

 

Learning Outcomes:

Upon completing this training, participants will be able to:

  1. Understanding different sources of income, such as revenue, sales, interest, and dividends.
  2. Learning to categorize and account for various business expenses, including operating costs, depreciation, and interest payments.
  3. Exemptions and Incentives: Exploring tax exemptions and incentives available to SMEs, which can reduce tax liabilities.
  4. Understanding how capital allowances affect taxable income by accounting for depreciation and wear and tear of assets.
  5. Applying the knowledge gained to determine the chargeable income for SMEs, considering all relevant elements.

 

Methodology:

  • Pre – Assessment
  • Interactive lectures and presentations
  • Group discussions and activities
  • Case studies
  • Post – Assessments

 

Target Audiences:

  • Directors
  • Accountants
  • Tax Managers
  • Executives
Additional information
Date

5th & 6th February 2024
Type

Individual, Group (>2)
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Course Outline

Module 1: Basis of Malaysian Company Taxation System

  • Income Tax Act 1967
  • Taxability of Receipts and Gains
  • When is Income Taxable?
  • When is Income is not Taxable?

 

Module 2: Maximization of Tax Deduction of Expenses

  • Allowable/Deductible Expenses
  • General Deductions – S33
  • Business Deductions – S34
  • Special Deductions

 

Module 3: Double Deduction of Expenses

  • Expenditure Qualifying for Double Deductions
  • Approved Training
  • Advertising Expenditure on Malaysian Brands
  • Promotion of Export Services Rules
  • Any other area of consideration

 

Module 4: Non-Deductible Deductions S39

  • Minimize Non-Deductible Deductions
  • Capital Expenditure versus Revenue Expenditure
  • Entertainment Expenditure
  • Interest Restriction

 

Module 5: Capital Allowances and Charges on Plant & Machinery

  • What is a Plant?
  • Concept of Qualifying Expenditure
  • Allowances Available
  • Balancing Allowance & Charge
  • Timing of Assets – Acquisition and Disposal
  • Assets under Hire Purchase
  • Assets under Leasing
  • Treatment of Unabsorbed Capital Allowances

 

Module 6: Industrial Building Allowances

  • What is Industrial Building?
  • Allowances Available
  • Balancing Allowance & Charge

 

Module 7: Company Taxation Illustration

  • Adjusted Income
  • Statutory Income
  • Aggregate Income
  • Total Income/Chargeable Income

 

Module 8:

  • Budget 2024
  • Case Studies

Questions and Answers

Trainer Profile

Mr. Hari Ramulu Munusamy

Hari Ramulu Munusamy, a Chartered Certified Accountant, boasts extensive experience spanning various aspects of accounting, auditing, taxation, and finance education, dating back to October 1974. His professional journey commenced as an Audit Assistant at Messrs: F.H. Eiles & Co., a London-based Chartered Accountants firm, in October 1976, following his completion of a Diploma in Accounting from Newcastle-Upon-Tyne.

Subsequently, he advanced his career as an Audit Supervisor at Messrs: Coopers & Lybrand, now known as PricewaterhouseCoopers, in Kuantan, in May 1984. In January 1986, he joined Messrs: Senthe & Co as an Audit Manager, gaining significant experience in private practice.

In addition to his practice, Hari Ramulu served as a group accountant for FARMCO Sdn. Bhd. and lectured at various higher learning institutions from October 1988 to June 2014. He possesses a wealth of knowledge, skills, and expertise in accounting, auditing, taxation, and related services, including forensic accounting, company valuation, and tax investigation.

He is a highly regarded speaker at seminars, workshops, and conferences, with a focus on topics such as taxation, financial statement analysis, GST, and accounting standards. Professionally, he holds memberships and affiliations with various renowned institutions, including the Association of Chartered Certified Accountants (UK), Malaysian Institute of Accountants, Malaysian Chartered Institute of Taxation, and more.

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