TAX How to Effectively Manage Employer’s Obligations 10 December 2013 One World Hotel, Petaling Jaya kpmg.com/my How to Effectively Manage Employer’s Obligations Workshop Objective Our tax law requires employers to discharge certain obligations relating to employees. Thus, it is pertinent that their HR personnel or personnel tasked with payroll matters be kept updated or refreshed with sufficient tax knowledge to discharge such obligations. For instance, as announced in the recent budget, effective from 2014, Monthly Tax Deduction (“MTD”) remitted by an employer could be deemed as the final tax of employees and the employees could elect not to file returns. Consequently, there is a need for the employer to review their current procedures on MTD compliance. This workshop is designed to share the knowledge in completing statutory documents to be compliance with the Income Tax Act, 1967 (“the Act”), Income Tax (Deduction from Remuneration) Rules 1994 and the relevant Public Rulings issued by the Inland Revenue Board (“IRB”). As the emphasis on penalty for non-tax compliance increases, so does the burden on employers to understand and manage the myriad tasks involved in complying with their tax obligations. Hence, it is crucial for their HR personnel or personnel tasked with payroll matters to gain a good understanding of the tax obligations as non-compliance can lead to severe penalties being imposed by the IRB. Workshop Highlights This workshop helps the participants to have a better understanding of an employer’s tax obligations in relation to:• • • • • • Newly joined employees and resigning/seconded employees Disclosure of income reporting in the Form EA/Form CP21 Types of Perquisite and Benefit-in-Kind (“BIK”) Identify and explore the various tax exempt benefits for employees Completion of Form E Monthly Tax Deductions (“MTD”) - Distinction between Normal and Additional Remuneration • Penalties for non-compliance • Impact of 2014 Budget Proposals on personal tax The following Public Rulings (“PR”) will also be discussed during the workshop • • • • PR No. 2/2013 PR No. 3/2013 PR No. 1/2012 PR No. 8/2013 : : : : Perquisites From Employment Benefits In Kind Compensation for Loss of Employment Gratuity There will be case studies for participants to apply the understanding on the major issues covered. Who Should Attend Personnel who handles payroll, process reimbursement of claims or in possession of information relevant for the calculation of MTD, preparation of Form EA/Form CP21/CP22A and Form E. Workshop Details Details of the workshop are as follows:Date : Tuesday, 10 December 2013 Time : 8.30 a.m. to 5.30 p.m. Venue : One World Hotel, Petaling Jaya Speaker’s Profile Details of the workshop are as follows:Wee Chong Eng, Associate Director Chong Eng has 15 years of experience in providing personal tax compliance and advisory services to local and multinational companies which range from trading, manufacturing and oil and gas company (including those operating in Malaysia-Thailand Joint Development Area). She is engaged in dealing with issues relating to inbound and outbound assignees and employer’s and employee’s tax obligations. Her tax advisory assignments include advising clients on equity based compensation, restructuring of tax remuneration package, tax reimbursement policies as well as payroll compliance review. Chong Eng also conducts in-house tax training. Cecilia Jovita Paul, Manager Cecilia has 9 years of experience in providing personal tax compliance and advisory services to local and international clients. Her Malaysian tax engagements involve the preparation of personal tax returns, tax equalization calculations, Form E, calculation of MTD and liaising with the IRB on contentious tax issues. She also has experience in Partnership Tax Return (“Form P”), Estate Tax Return (“Form TP”) preparations and provides advice to her clients on Malaysian personal tax implications. Facilitator’s Profile Datin Pauline Tam, Executive Director Datin Pauline has 30 years of professional experience with 26 years spent in tax. Some of Datin’s key areas of expertise include corporate and personal tax compliance and also advisory, personal tax planning, immigration related matters, payroll tax compliance reviews, advice on stock option plans, corporate tax due diligence reviews, corporate tax audit and investigation, evaluation of tax incentives for foreign/local investments, advise on tax incentives and implications on foreign investment in Malaysia. She has provided tax services to a diversified portfolio of clients including public listed companies and multinational corporations in a wide range of industries including airlines, oil and gas, infrastructure, manufacturing, trading, investment holding, financial services, educational services, plantation, construction and property development. Agenda 8.30 a.m. – 9.00 a.m. Breakfast and Registration 9.00 a.m. – 10.30 a.m. Newly joined employees Resigning / seconded employees MTD 10.30 a.m. - 10.45 a.m. Tea break 10.45 a.m. - 12.30 p.m. MTD (cont’d) and Form EA/BIK/Perquisites 12.30 p.m. - 2.00 p.m. Lunch 2.00 p.m. - 3.30 p.m. Form EA/BIK/Perquisites (cont’d) 3.30 p.m. - 3.45 p.m. Tea break 3.45 p.m. - 4.45 p.m. Form E Penalties for non-compliance 2014 Budget Proposals 4.45 p.m. - 5.30 p.m. Case Studies Questions and Answers This workshop is limited to only 35 participants to ensure interactive discussions. Registration is on a ‘first come first served’ basis. For further inquiries, please contact Ms Katherine Subramaniam at 03-7721 7348 or email her at katherinesubramaniam@kpmg.com.my. Registration | How to Effectively Manage Employer’s Obligations Please mail your completed form and cheque to: KPMG Tax Services Sdn Bhd, 10th Floor, KPMG Tower, No. 8, First Avenue, Bandar Utama City Centre, 47800 Petaling Jaya, Selangor or fax it to 03-7721 7288/7388. For online registration, please visit www.kpmg.com.my (Please photocopy the registration form for more delegates) Salutation: Name: Designation: Organisation: Postal Address: Tel: Fax: E-mail: For participants who are vegetarians, please indicate in the box. For participants who are alumni members, please indicate in the box. CPD Certificate of attendance will be issued for 7 CPD hours. Fee & Payment • • • • RM850 per participant. 10% discount is given for registration of two or more participants. KPMG Alumni members are entitled to 10% discount Registration fee is to be settled on or before 29 November 2013 to confirm your participation. Registration fee is inclusive of seminar materials, breakfast, tea break and lunch. Cheques should be crossed and made payable to KPMG Tax Services Sdn Bhd. I/We enclose payment of RM _____________ via Cheque/Bank Draft no. _________________ payable to KPMG Tax Services Sdn. Bhd. Cancellation • A substitute delegate is welcomed at no extra charge if you are unable to attend. • No refund will be given for cancellation received less than 7 working days before the workshop date. KPMG reserves the right to change the speaker, facilitator, venue, date and to vary/cancel the programme should circumstances beyond its control arise. KPMG also reserves the right to make alternative arrangements without prior notice should it be necessary to do so. You are deemed to have read and understood the terms and conditions upon signing the registration form. © 2013 KPMG Tax Services Sdn. Bhd., a company incorporated under the Malaysian Companies Act 1965 and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.