BUDGET
2024
3 DAYS . 33 tOPICS . 3 q & a SESSIONS
WHERE
The Gardens Hotel, mid valley, kuala lumpur
WHEN
13, 14 & 15 December 2023 (Session 2)
9 AM TO 6 PM
(21 cpd)
4, 5 & 6 December 2023 Session 1 (Very Limited Seats Available)
SPEAKER
DR CHOONG KWAI FATT
Budget 2024: Latest Business Approach and Substantial Tax Changes for the New Economic
Madani Economy: Empowering the People Amid Global Economic Uncertainty
Amidst the tension between the USA and China, which has greatly impacted the global economy, the Malaysian Government is taking proactive measures to empower its people and stimulate the local economy. In the upcoming Budget 2024, there will be likely no announcement or suggestion of the Goods and Services Tax (GST). Instead, the Government is focusing on attracting high-impact Foreign Investments through Strategic Tax Incentives and promoting Transparency in Business Operations through the Implementation of e-Invoicing.
Boosting Domestic Companies, Fostering Innovation and Sustainability
As part of the 12th Malaysia plan, the Government is extending Manufacturing Incentives, Green Incentives, and Artificial Intelligent Technology Incentives to support domestic companies & foreign direct investment. These incentives aim to boost the local economy and indirectly benefit the workforce employees. By encouraging innovation and investment, the government aims to create a thriving business ecosystem and improve the welfare of its citizens.
E-Invoicing: Transforming Business Operations for Greater Transparency
To ensure transparency in business transactions and accurate reporting of revenue and expenses, the Malaysian government is implementing an e-invoicing system. Having a five point model, it enables IRB to collect direct Real-Time Data from Companies and utilising Big Data Analysis able to accurately identify Tax Issues. This digitalization of the economy ecosystem will revolutionize the Tax Framework and enhance the efficiency of the overall Business Environment. The implementation will be carried out in stages starting from 2024, and it is crucial for Businesses NOW to understand the impact of e-Invoicing as early as possible and the SOLUTION to Overcome this NEW Challenges that will be covered in depth during this Budget 2024 seminar.
Special Voluntary Disclosure Programme (SVDP) 2.0: Seize the LAST Opportunity
The COVID-19 pandemic has accelerated the adoption of e-Payment Mechanisms, making it easier for authorities to detect underreported income and non-deductible Expenses. With the implementation of the e-Invoicing System, Fictitious Claims and Double Claiming of Expenses will be exposed, leading to Potential Tax Undercharging. To address this, the Government is offering the LAST Opportunity to participate in the SVDP 2.0, which allows Taxpayers to rectify their Tax Affairs WITHOUT Penalties and provides Flexible Payment Options. However so many have misunderstood the approach to SVDP, too many have done it wrongly and it has caused substantial Tax Damages. this need to be done in a specific manner, the Right Approach will be delivered during the Seminar.
Luxury Tax and Unlisted Shares: Targeted Measures for Balanced Taxation
To mitigate the impact of tax hikes on the Domestic Business rebound, the Government is considering introducing Luxury Goods Tax and Capital Gains Tax on Sales of Unlisted Shares. These targeted measures aim to minimize adverse effects on selected consumers and the business community.
Skilled Employee and Retirement Age: Embracing Experience and Nurturing the Future
Recognising the value of experienced employees, the Government is extending the retirement age to 65 and introducing a Lower Tax Rate for mid-range income employees. This will enable skilled employees to guide and mentor the younger generation, fostering a stronger economy and knowledge transfer.
Real Property Gains Tax Change: Balancing Ownership and Taxation
Foreign citizens, overseas companies, and local companies with substantial foreign ownership may face a higher rate of Real Property Gains Tax (RPGT). This measure aims to strike a balance between encouraging investments and ensuring fair taxation.
Sales and Services Tax: Streamlining for Efficiency
The Government is considering merging the Sales and Service tax (SST) into a single legislation to optimize efficiency and enhance the effectiveness of Tax Collection. This streamlined approach aims to simplify the Tax System and improve compliance for businesses.
Hot Topics Covered
- New Tax Incentives
- New Company Structure
- Double deductions
- Tax Relief for individuals
- RPGT Changes
- FSI (Foreign Sourced Income)
- Green Taxes
- Manufacturer : Tax Incentives
- Agricultures: Tax Incentives
- Exporters : Tax Incentives
- Investors: Tax Incentives
- Luxury Tax
- Tax on Unlisted Shares
- Foreign Sourced Income
- individual tax relief
- Company Tax Restructuring
- Tax Rebate RM20,000
Content Exclusive to This seminar
Why our Budget Seminar ?
Because of these 5 Reasons.
01. Complete Tax Coverage
Tax Changes not just from Budget Announcements. Tax Law Changes due to Gazette Orders and New Tax Cases too.
02. Practical Tax Planning
Get more than just information on tax changes – understand their impact, learn about the latest tax planning strategies, and avoid common tax traps.
03. Stay Ahead with E-Invoicing and SVDP 2.0
Discover how E-Invoicing will revolutionize tax audits and learn how to adapt your accounting structure. Dr. Choong will provide expert guidance on making the necessary adjustments before year-end.
04. Interactive Q&A with Post-Support
Join a community of 200 experienced peers to ask questions, clarify confusing points, and gain insights into expected challenges. You won't be alone in navigating tax issues.
05. Convenient Location
Attend the seminar at Mid Valley, where you can enjoy abundant shopping and dining options. Make the most of the festive season and sales after the event.
this year is special : WE COVERS FIVE AREAS THIS BUDGET 2024
The Tax Family all under one roof. Completely updates on all three aspect of taxation: Income Tax, RPGT and Sales & Service Tax. Plus two IMPORTANT time sensitive tax planning opportunities: E-invoicing and SVDP 2.0.
be ready for your 2023 and 2024 tax filing
.
Other than compliance update, there are so many tax planning waiting for you, they are part of the long list of exciting changes you should look out for in this Budget 2024 tax seminar!
Malaysia is Fighting for FDI
Learn to Utilise the tax planning opportunities created by Government.
Know how to benefit from the changes.
All in one Budget 2024 tax seminar.
Avoid E-invocing's heavy tax traps
Easily avoided if you know what to "Update" in your accounts
Get Most Out of Uncertainty.
Cover all FIVE areas of taxation.
Tax Audit Game Experiencing Substantial Changes in 2024
With e-invoicing and going cashless by 2027, the Tax Audit game changed irreversibly. Knowing how to put in the right accounting changes has never been this important ever before. There are so much preparation needed prior to 2024. You don’t just know the changes, you know what are the action plan required.
Budget 2024 Seminar : Business & Employee Tax Planning
Post Covid-19, it brought lot of changes in our life. It also reflected on one glaring fact: those who are able to response fast prosper.
This Budget 2024 has created lots of Opportunities. This Year’s Unique BUDGET 2024 is super crucial. It will set the momentum for Malaysia for the next 10 years.
With opportunities there come high risk too. Therefore, Tax Updates and Tax Planning with Dr. Choong Kwai Fatt is a MUST ATTEND for you. Place in your hand those URGENTLY NEEDED Business and Employee Tax Planning for your Budget 2024.
Be benefited from the eager push by government, with three day spent with Dr Choong be laser focus on tax changes which matter.
You don't just know what are the tax updates, you need to know what change to make in your business now.
We are eager and look forward to seeing you in The Gardens Hotel. Network with peers and client, while getting the latest Tax Planning.
JOIN THIS SEMINAR.
Grab these rare Malaysia Budget 2024 Latest Tax Changes + Opportunities.
what’s covered
Practical Tax
Planning
Contents includes Tax Updates & Tax Planning but are not limited to just the following:
DAY ONE
- Staying up-to-date with the latest deduction rules
- exciting tax incentives designed to boost: manufacturer and services industries
- Domestic companies: o Deductions, special deductions, and tax planning
- Micro, Small and Medium Enterprises (MSME): o Expansion of tax base and new tax booster incentive
- Tax incentives on the Manufacturing Sector: o Expansion of reinvestment allowance and automation allowance
- High-Impact Investment Incentives: o Complete exemption or 10% tax and incentives for C-suite employees
- Tax incentives for Export Base Industries: New incentives and deductions
- Agricultural Base Incentives: o Extension of approved food projects and incentives for aquaculture and agriculture with AI features
- Real Property Gains Tax (RPGT): Changes and planning aspects
- Luxury Goods Tax: Conceptual framework, applications, and deductibility of luxury goods as promotional gifts
- Capital Gains Tax on sales of unlisted shares: Shareholder categories, computation, and integration with income tax
- RPGT switch to income tax for property developers and traders
Advanced Tax
Planning
DAY TWO
** Exclusive Tax Planning content only available in this Budget 2024 Physical Live seminar.
- Individual reliefs and income exemption: New scope of tax relief and income exemption categories
- Special exemption on foreign sourced income: Substance requirements and computation of relief on foreign-sourced income
- Sales and Service Tax (SST): Merger, expansion, and new tax rates
- Company tax restructuring and formulation: Optimized structure, treatment of intellectual property rights, and formulation of
- Transfer pricing: Interpretation, application, and complications
Also with the changes in tax case law decided by the court and gazette order published by tax authorities.
E-INVOICING + SVDP 2.0
DAY THREE
** Exclusive Tax Planning content make the required changes prior to YA 2024.
Discover the practical application, implications, and complications of e-invoicing, including:
- Conceptual framework and working mechanism
- Model structure and integration with IRB
- Transition and migration into e-invoice mechanism with IRB approval
- Deduction of expenses not supported by e-invoice
- Impact on revenue due to non-generation or delay of e-invoice approval
- Preparation and review of account coding, settlement with trade payables, refinancing property, and more
- E-banking and e-transmission
- Special Voluntary Disclosure Programme (SVDP) 2.0: Last call for attractive benefits
SVDP 2.0 Considerations:
- Differentiating income receipt and capital receipt
- Deducting business expenses within uncertainty
- Intelligent use of circumstantial evidence for expense deduction without invoice
- Special situations for foreign-source but Malaysian-derived income
- Scope and boundaries of deemed Malaysian-derived business income
- The SVDP 2.0 procedures and requirements
- Computation of underreporting income – option or compulsory
- The documentation needed to support voluntary disclosure.
- The complete success of SVDP disclosure at ease and certainty
- IRB will not reopen cases on SVDP – extensiveness of this assurance and its certainty.
Don't miss this opportunity to enhance your tax planning expertise and stay ahead of the game in 2024. Act now and secure your spot at this must-attend event.
JOIN THIS SEMINAR.
Grab these rare Malaysia Budget 2024 Latest Tax Changes + Opportunities.
WHAT PAST PARTICIPANT THINKS
ABOUT OUR SEMINAR LAST YEAR
Actual REVIEW
DAY ONE
Part 1
12:30 PM TO 1:30 PM BUFFET LUNCH BREAK
Part 2
Part 3 (Questions & Answer) 5:00 PM TO 6:00 PM
…. More content may be added as changes where relevant from Budget 2023 prior to event date.
DAY TWO
Part 1
12:30 PM TO 1:30 PM LUNCH BREAK
Part 2
Part 3 (Questions & Answer) 5:00 PM TO 6:00 PM
…. More content may be added as changes where relevant from Budget 2023 prior to event date.
DAY THREE
Part 1
12:30 PM TO 1:30 PM LUNCH BREAK
Part 2
Part 3 (Questions & Answer) 5:00 PM TO 6:00 PM
…. More content may be added as changes where relevant from Budget 2023 prior to event date.
Venue
Conducted in the ballroom within the relaxation of The Gardens Hotel, 5-star heaven within The Gardens Mall in Mid Valley. Love for its strategic location and the direct access to shopping mall, eateries and parking (Premium and Zone U).
Address:
The Gardens Hotel
The Gardens, Lingkaran Syed Putra, Mid Valley City, 59200 Kuala LumpurG
What you will get :
- The reference books and printed slides,
- The Q & A link to submit your questions: Prior, During and Post seminar.
- e-Certificate of Attendance
Plus, lots and lots of practical Tax Planning Strategies for easy implementation.
e
JOIN THIS SEMINAR.
Grab these rare Malaysia Budget 2024 Latest Tax Changes + Opportunities.
PRICING
Choose the right category based on the number of participants. The price stated below is for 3 days seminar.
Group of
1 - 2 Pax
RM4800
RM
4,200
-
Enjoys RM 600 off as Early Bird Discount when you registered Now.
REGISTER 1 - 2 PAX
Seat are limited and subject to first come, first served basis. Early Bird Ends on 10.11.2023
Group of
3 - 4 Pax
RM4500
RM
3,900
-
Here’s how the math works :
RM 3,460 - RM 160 group registration discount = RM 3,300
REGISTER 3 - 4 PAX
Seat are limited and subject to first come, first served basis. Early Bird Ends on 10.11.2023
Group of 5 Pax
& more
RM4200
RM
3,600
-
Here’s how the math works :
RM 4,800 - RM 600 Early Bird Discount - RM 600 group registraon discount = RM 3,600.
REGISTER 5 PAX & MORE
Seat are limited and subject to first come, first served basis. Early Bird Ends on 10.11.2023
Popular
This program is HRDC Claimable.
When you apply for HRDC please ensure “30% up front payment” is selected.
JOIN THIS SEMINAR.
Grab these rare Malaysia Budget 2024 Latest Tax Changes + Opportunities.
wHO IS IT FOR?
Created for Business Owners, Accountants, Financial Personnel, Company Directors and you of course.
SHAREHOLDERS AND DIRECTORS
BUSINESS AND FINANCIAL DECISION MAKERS
COMPANY SECRETARY, AUDITORS, AND TAX AGENTS
ACCOUNTANTS, FINANCIAL CONTROLLERS, SENIOR EXECUTIVES
SHAREHOLDERS AND DIRECTORS
(Personnel involved in Managing the Company)
Shareholders and Directors are exposed to Personal Risk of Travel Restriction, Personal Liability to pay for “Tax Undercharged” and Company Bankruptcy. Therefore Shareholders and Directors must have personal understanding of what are the latest risks they are facing and ensure the right safeguard is in place. Especially to take advantage of available Tax Incentives, Business Recovery, Corporate Restructuring ideas and Tax Planning Opportunities. (Applicable to all industry)
BUSINESS AND FINANCIAL DECISION MAKERS
(CEO, CFO, General Manager and Financial Controller)
To ensure the company continue to prosper and remain relevant, be ready for Malaysia Budget 2022 and get to know what are the major changes in Government’s direction which impact Businesses Direction. Where Economy, Taxation and Business Direction need to be known. The Decision Makers must be well advised and comprehend the significance and be able to plant the right seeds and direction for the company.
COMPANY SECRETARY, AUDITORS, AND TAX AGENTS
The Advisors need to gear up and patch up your dose of Know-How from this Annual Malaysia Budget 2022 Seminar in view of this ongoing Covid-19 pandemic that is happening locally as well as internationally.
Get the Latest Malaysia Budget 2022 Approach implemented by ruling Government, latest KNOW HOW and New Action Plan needed.
ACCOUNTANTS, FINANCIAL CONTROLLERS, SENIOR EXECUTIVES
Applying a MFRS and SST are tough enough, plus Transfer pricing changes which is bringing Malaysian Business Structure change and cut across all industries in your accounting work. NOW there is another wave of change in New Government Business Direction with the regards of Covid-19 that you MUST BE READY FOR.
How will it affect your Business Direction, Accounting Entries, Documentation from now onwards and all the compliance requirements and thresholds involved. There are ample work to PATCH UP on the missing UPDATES.
INTERESTING FACT
93% of our Participants consist of Senior Management and Key Decision Makers.
Here's 2 main reasons why Management Level love our seminar :
Concise & Packed with practical "How to"
Experienced Senior Management appreciate the fact that the more they legally slash from Tax, the more Profit they can easily retain in the company.
We Cover Risk Management
Tax Risk Management is on the shoulder of Senior Management (especially Directors), compliance and right documentation free them from lots of Tax Headache and be confident when they faced with Tax Audit and Investigation.
[One Last Secret: We notice most of our frequent attendees get promoted Very Fast in their respective Company. I suppose, those who can create high impact on company's $$$ will tend to get priority to be headhunted for promotion when it is available.]
JOIN THIS SEMINAR.
Grab these rare Malaysia Budget 2024 Latest Tax Changes + 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
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faq
Most frequent questions we received.
Our budget seminar is popular because we cover TAX PLANNING.
Conventional Budget seminar are created with the objective of just updating participants on latest changes.
Knowing tax changes help you to remain compliance.
Knowing tax planning provides substantial TAX SAVING.
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.
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.
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). However do note that HRDF has new guideline on the claiming of HRDF on online training. Where there is restriction of RM 500 per day (with minimum of 4 hours training conducted over 2 days).
This applies to Company that is contributing to HRDF Fund.
Usually for live training 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, kindly email the preapproval for our record.
Post seminar we will submit the claim from PSMB after participants attended the event.
For Online training, HRDF do impose additional criteria. Such as the minimum number of hours and the minimum number of days and maximum number of participants per session. Do check with HRDF for more information on this.
If you have the latest updates as to how to claim HRDF, please do share with us via event@synergytas.com.
Thank you for sharing!
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Grab these rare Malaysia Budget 2024 Latest Tax Changes + Opportunities.
Need a copy of the
We provide both. View them online or the download pdf version of Budget 2024 Session 2.
