01int_Part:0int_limit:0234FalseFalseFalseFalseFalseFalse5 FMM Webinar on Income Tax Reporting - A Guide to Employers and Employees on 2020 Income Tax Reporting
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FMM Webinar on Income Tax Reporting - A Guide to Employers and Employees on 2020 Income Tax Reporting
Date : February 22, 2021
Time : 09:00 AM - 05:00 PM
Venue : Ipoh - Zoom (Online)
Country : Malaysia

FMM Webinar on Income Tax Reporting

A Guide to Employers and Employees on 2020 Income Tax Reporting

February 22, 2021 (Monday), 9:00 AM – 5:00 PM via ZOOM


This webinar aims to provide guidance on the employer and the employees’ tax reporting requirements.  IRB has now focused on employers/employee’s failure to comply with tax rules and regulations and tax audits are on the rise.  With the current stringent tax laws and tax audit carried out by the Inland Revenue Board(“IRB”), employers have to keep abreast of changes to tax laws and regulations in order to discharge its obligations. Non-compliance will lead to substantial penalties and heavy compounds being imposed by the IRB.


Time

Programme

8.30

Registration

9:00

  • Employer and employee tax provision latest updates and operational procedures
  • Differences in the definition of wages under the Employment Act, EPF, SOCSO and Income Tax
  • Preparation of Form E and CP8D

11:30

  • Tax issues relating to compensation and benefits and being prepared for a payroll audit
  • Rights and responsibilities on fulfilling employer tax obligations
  • Malaysian tax issues on foreign expatriates
  • Meaning of “deemed” employer under section 83(6) ITA 1967
  • e-CP39
  • How to determine whether the foreign worker/expatriate is a resident or Malaysia or is a non-resident of Malaysia

13:00

Lunch Break

14:00

  • Employment Retention Program – Income Tax Exemption Order No 4 2020 (P.U. (A) 306/ 2020) and Income Tax (exemption) No 5 Order 2020 (P.U.(A) 306 / 2020 on financial assistance received by employer by an employee
  • Understanding employment income under Section 13 and exemptions with the corresponding reporting in Annual Tax Return (Form E) and Form EA
  • Perquisites – Public Ruling 5 2019
  • Benefits-in-kind – Public Ruling 11 2019
  • Value of living accommodation
  • Gratuity
  • Compensation for loss of employment
  • Can directors of controlled company enjoy medical benefits?
  • Director’s tax obligation and responsibilities

15:30

  • Common mistakes and pitfalls of income reporting often made by the payroll/HR department
  • How IRB conduct employer’s and MTD audit – common tax issues
  • Tax penalties and tax appeals
  • Q & A Session

17:00

End of Programme




  Registration Fee (Per Participant)
No. of ParticipantsMemberNon Member
1 RM 424.00 RM 500.00
Registration Deadline: February 15, 2021
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