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MALAYSIA BUDGET

2021

Latest Updates on Income Tax RPGT Sales & Services Tax With Comprehensive Tax Planning

Quick Facts

We bring you Annual Malaysia Budget 2021 Tax Planning Seminar featuring Dr Choong Kwai Fatt as the speaker. 

20 CPD

HRDF Claimable*

(*subject to employer obtaining prior approval from HRDF)

Limited seats available, subject to first come first served basis. 

Budget 2021 Important tax planning + updates

Business Tax Planning, Transformation and Restructuring- incorporating Budget 2021 latest changes, development and updates

Malaysian business must act promptly and immediately to reposition, align, restructure and transform completely in order to be able to head on with the COVID pandemic era. The mantra of success and survival would be ‘do thing differently’ and ‘do different thing’. 

The Government employed extensively macroeconomic policy tools to spearhead economy growth with public expenditure of RM322.5b followed by RM11.2b to B40 to boom domestic consumption, all in all would be able to lead the rebound Malaysia economy beginning 2021.

The two days seminar is a must to attend as it would completely reveal on the ‘how to’ eligible, to utilize the tax incentives as proposed in Budget Proposal 2021, PENJANA stimulus packages and the Finance Bill 2020. Only with tax efficiencies coupled with incentives and grants, Malaysian business able to sustain, to retain employees and to contribute growth. 

 

Other than compliance update, here's part of the list of exciting changes you should look out for in this Budget 2021 !

2021 is the Year of Tax Audit and Investigation.

You hear it right! Tax audit and investigation is back “furiously”. 

Various tax gaps will be patched up by issuing New Ruling and changes in law via this Malaysia Budget 2021 announcement. Businesses, Accounting and Tax Professionals need to revise the Action Plan and equip themselves with the Right Know-How based on Malaysia Budget 2021 Latest Key Changes.

Take advantage of the Attractive Incentives

With the ongoing intense trade war between China and America lies a business gap, The countries in South East Asia is hoping to benefit from this business gap. To win this Malaysia is throwing attractive Incentives and Fiscal Policy to attract Foreign Direct Investment where we needed most.

TIME TO CHANGE YOUR BUSINESS STRATEGIES.

Tax need to follow facts ! It is time to UTILISE MOST UP-TO-DATE TAX PLANNING OPPORTUNITIES FROM THIS ANNUAL MALAYSIA BUDGET 2021.

Budget 2021 is important as various Tax Planning Opportunities will be made available to allow Businesses to REFORMULATE its Business Strategies to push the Malaysian Economy up to Rise as Asian Tiger.

Malaysia is seeing an upward trend towards economy boom. Businesses will surely benefit from the comprehensive yet unique Tax Planning Strategies presented in this unique Malaysia Budget 2021 Tax Planning Seminar and the highlighting of various Tax Compliance Risks. 

SO MANY RARE TAX PLANNING OPPORTUNITIES! This is not conventional Budget Seminar. Be safe by knowing how to correctly apply latest change in tax rules. ALSO have in hand Latest Exciting Tax Planning you want to grab immediately!

Join this seminar.
Grab these rare Malaysia Budget 2021 Tax Planning Opportunities.

We are HRDF claimable. 

Timeline

The estimated timeline for Budget 2021

Day 1 (Income Tax & RPGT)
26 January 2021 (Tues)

8:30 AM

REGISTRATION & BREAKFAST (BREAKFAST PROVIDED)

Come early get a good seat. 

9:00 AM

A. Tax rebate of RM20,000 for 3 YAs for new SME/LLP

  • Incorporation
  • Acquisition of business
  • Development of new business
  • LLP or SME – the choosing consideration

B. Business Expansion and Reformulation

  • Renovation and refurbishment incentive
  • Relocation to new location – deduction and prohibition
  • Flexible work arrangement incentive and application

C. Human Resource Alignment:

    • Retrenchment with new employment
    • New employees with IT talent
    • Compensation for loss of employment or gratuity payment – now or never
    • IT gadgets to employees
    • Aging employees with improved remuneration
    • Repackage employees’ salaries with
      1. share of profit
      2. tax exempt benefits
      3. outsource functions and possibility
      4. flexible work arrangement

10:15 AM

  • TEA BREAK
    (SUMPTUOUS MEALS PROVIDED)

10:30 AM

D. Plant and machinery

  • the new ‘plant’ definition in para 70A, Sch 3
  • review and planning
  • refinance – fatal consideration
  • accelerated capital allowance – inclusion and exclusion rules
  • disposal now or later

E. Stock in trade

  • Disposal for charity
  • Exchange with investment
  • Payment in lieu as remuneration
  • Withdrawal stock for own use – application and implication

F. Trade debtors

  • maximise deduction consideration
  • bad debts provision – action and implementation
  • bad debts written off – ‘how to’ approach
  • contra debt – the working mechanism</li?

12:30 PM

LUNCH
(SUMPTUOUS AND DELICATE BENTO PROVIDED BY HOTEL) 

While being in compliance with COVID’s SOP, rest assured you will still be served with beautiful and sumptuous meals. 

1:30 PM

G. Investment Holding Company

  • transform or reform?
  • eligibility of preferential tax rate of 17% – the last resort

H. Real Property Gains Tax Planning

  • individual exemption with disposal of 3 units
  • IRB action to switch RPGT to income tax – the mitigation factor
  • RPC shares – updates and development
  • disposal of property to director or shareholder
  • remission of penalty – cause of reason
  • acquirer’s risk and responsibility – the retention sum [s 21B amendment]
  • Finance Bill 2020 changes and development

I. Operating expenses – deduction consideration

  • theft and defalcation by employee
  • legal expense deduction
  • loan to employees, service director, director with shareholding ≥ 20%

3:30 PM

TEA BREAK
(SUMPTUOUS MEALS PROVIDED)

4:00 PM

J. tax incentives – applications and complications

  • private healthcare incentives
  • relocation to Malaysia incentives
  • approved incentive scheme [new ss 6(1A), 65B read with part XVII and part XVIII]
  • expansion of reinvestment allowance
  • global trading centre
  • principal hub
  • research & development – double deduction or single deduction
  • group relief – new restriction
  • crowdfunding equity incentive
  • bionexus package
  • industrialised building system – investment tax allowance application

K. Personal tax relief and rate

  • RM200 tax reduction to M40 group
  • computer, laptop acquisition
  • child care relief
  • upskill with new skill
  • medical treatment
  • many others as tabled in Finance Bill 2020

L. Tax administration

  • tax filing – new duties
  • notification from employer – mandatory items
  • collection and recovery by IRB

5:00 PM

Exciting Q & A Session
The most exciting part of this whole seminar! Tax is a private matter for all companies, it is rare for companies to open up with their questions and get answered by Dr Choong personally. It is very hot, practical and intense learning session. No worries your identify will always be kept anonymos.

…. More content will be added as changes from Budget
2021, Gazette Orders and Guidelines issued prior to event date.

Day 2 (Transfer Pricing, Sales & Services Tax)
27 January 2021 (Wed)

8:30 AM

REGISTRATION & BREAKFAST (BREAKFAST PROVIDED)

Come early get a good seat. 

9:00 AM

A. Transfer Pricing
  • conceptual framework
  • controlled transactions – scope and ambit
  • IRB’s discretion to disregard and recharacterize group structure
  • the new s 140A(3A), (3B) application
B. Transfer Pricing Methodology
  • applications
  • complications
  • trading company for sales tax planning
  • basis of profit allocation
C. Transfer Pricing Documentation
  • format and scope
  • contents coverage
  • penalty for non compliance [the new s 113B]
  • surcharge on transfer pricing adjustment [the new s 140A(3C), (3D), 124(3)]

10:15 AM

  • TEA BREAK
    (SUMPTUOUS MEALS PROVIDED)

10:30 AM

D. Withholding tax compliance and applications
  • advertisement in Google, Facebook
  • online training – royalty or s 4A(ii) income?
  • withholding tax absorbed – complications
  • penalties computation and application
  • service tax entanglement
E. Stamp Duty
  • changes and development by Finance Bill 2020
  • PENJANA incentives on exemption
  • penalties – computation and applications
  • IRB recovery action
  • Minister of Finance to exempt – the new amendment [s 80(1A), new s 80B]
F. Labuan Company
  • changes and development by Finance Bill 2020
  • restriction on deduction [s 39(1)(r) amendment]
  • chargeable profit – the new scope
  • assessment and appeal – the new way
  • irrevocable election on chargeability – new scope
  • alignment with income tax regime – the scope
 

12:30 PM

LUNCH
(SUMPTUOUS AND DELICATE BENTO PROVIDED BY HOTEL) 

While being in compliance with COVID’s SOP, rest assured you will still be served with beautiful and sumptuous meals. 

1:30 PM

G. Sales tax – changes and development
  • exemption and facilities – application
  • subcontract manufacturing – C5 exemption and application
  • approved major exporter scheme
  • sales tax deduction – computation and application
  • sales tax refund
  • buy local, export overseas – sales tax exemption facilities

3:30 PM

TEA BREAK
(SUMPTUOUS MEALS PROVIDED)

4:00 PM

H. Service tax – Budget changes and updates
  • Scope and ambit

  • Imported taxable services
    1. the far fetch effect
    2. service tax exemption
    3. IT exemption application
  • Digital service tax
    1. Application and its scope
    2. Crossline with imported taxable service: demarcation point
    3. Group relief
  • Business to Business (B2B) exemption
    1. application and complication
    2. exclusion list
    3. advertising company dilemma
  • Intragroup service tax relief
    1. With overseas companies
    2. With Malaysian company only
    3. Provision of services to non related parties
    4. Safe harbour rule of 5%
  • Reimbursement is now taxable service
    1. Exclusion from service tax
    2. Demarcation with disbursement
  • Training, coaching and mentor guidance
    1. Online
    2. Face to face
    3. From overseas
    4. Within Malaysia
    5. The service tax complications

5:00 PM

Exciting Q & A Session
The most exciting part of this whole seminar! Tax is a private matter for all companies, it is rare for companies to open up with their questions and get answered by Dr Choong personally. It is very hot, practical and intense learning session. No worries your identify will always be kept anonymos.

…. More content will be added as changes from Budget
2021, Gazette Orders and Guidelines issued prior to event date.

Join this seminar.
Grab these rare Malaysia Budget 2021 Tax Planning Opportunities.

We are HRDF claimable. 

Who is this for?

Created for Business Owners, Accountants, Financial Personnel, Company Directors and you of course.

Join this seminar.
Grab these rare Malaysia Budget 2021 Tax Planning Opportunities.

Dr Choong Kwai Fatt

Dr Choong Kwai Fatt is an acknowledged tax authority and a leading tax specialist in Malaysia, highly sought after speaker and provided tax consultancy services to listed companies, audit firms, legal firms and the Malaysian Government for more than 25 years.

Like a diamond with multiple façade, Dr Choong shines for his depth of tax knowledge, rare combination of skill and experience derived from being a speaker, writer, researcher, advocate and solicitor, consultant and his passion towards tax education.

Collectively this has resulted in his outstanding presentation skill and charming persona as a speaker and advisor.

5/5

Join this seminar.
Grab these rare Malaysia Budget 2021 Tax Planning Opportunities.

We are HRDF claimable. 

Pricing

Choose the right category based on the number of participants. 

Group of
1 - 2 Pax

RM2976
RM 2,776 2 Days Tax Planning Seminar
  • 2 Days Tax Planning and Complete Latest Tax Update Seminar by Dr Choong Kwai Fatt.

Group of
3 - 4 Pax

RM2976
RM 2,576 2 Days Tax Planning Seminar
  • Since you register in group of 3 to 4 participants, you enjoy extra RM 200 off each participant.

Group of
5 Pax or more

RM2976
RM 2,376 2 Days Tax Planning Seminar
  • Want RM400 off ? Easy, just register together in group of 5 or more.
Popular

tax planning seminar is rare to come by.

Need a copy of the 

We provide both. The view online or the download pdf version. 

More information about the Venue

Venue

Sheraton Petaling Jaya

Stylishly located within the heart of Klang Valley, the Seminar will be held in safe & compliance venue.

Klang Valley is easily accessible vide Federal Highway, LRT, KTM, monorail and KLIA Express.

Join this seminar.
Grab these rare Malaysia Budget 2021 Tax Planning Opportunities.

FAQ

Most frequent questions we received.

No. The CPD stated on the Certificate of Attendance is as awarded by the Training Provider in recognition of the hours spent learning with the respective Speaker/ Trainer.

Unfortunately, it is subject to the discretion of the respective institution whether or not to accept the point or otherwise.

Yes, we do understand plans are always subject to change. Do provide us the name 10 Days prior to the event date. If change of name were to notify after we have printed the Certificate of Attendance, reprinting of cert can be done with a Certificate Reprinting Administrative Fees of RM 100.

No. We wish we can answer yes to this. Our Seminar is based on latest and most up to date information, rules and regulations, with a cut off point of 1 to 2 weeks before the event. The earliest date for us to get the seminar materials from the Trainer/ Speaker is 1 – 2 days prior to event date. In this regards, we will have to turn down all request to deliver materials prior to event date.

Unfortunately, most of the sessions will not be repeated. Should there be a similar session, you can change to other session of the same event, subject to availability.

Refund is not possible as all seating arrangement with venue and printing of materials have been arranged and put in place. However, we can accept replacement by informing us via email 10 days prior to the event.

Yes. This seminar does not just cover the surface Updates or Latest Developments, it covers the most crucial question : “How to implement and embed them into my Company System?”

Join Us and Expect to take away How Practical Solutions and Implementation Pointers.

We distinguish ourselves based on three areas. We are specialist in arranging effective and quality seminars.

We are also reputable event organising company set up to organise Advanced Tax Planning event. Our motto is to encourage the policy of “Plan Your Tax, Do NOT Evade Tax.”

 

Our Participants mainly consist of Corporate Leaders, Practitioners and Senior Executives, we hold firm to the view that we must do all it takes to maximise learning and impact in a minimum amount of time. We take pride in providing the most updated and well researched information.

Yes, our events are HRDF Claimable*
(*Subject to PSMB’s approvals by Participants)

This applies to Company that is contributing to HRDF Fund.

Usually as per the information we gather from Participants over the years, register and get the Invoice first.

Then, together with the Brochure, submit both Invoice and Brochure to HRDF for pre-approval (usually takes about 3 to 5 working days).

Once pre-approved, please proceed to to make payment to Synergy TAS PLT.

Company can claim back the money from PSMB after participants attended the event by submitting both the Certificate of Attendance and Official Receipt from us.

If you have the latest updates as to how to claim HRDF, please do share with us via event@synergytas.com.
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