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Concession + Exemption + Taxation
foreign sourced income
2022
Dr Choong Kwai Fatt | HRDF Claimable
Quick Facts
HRDF CLAIMABLE
We bring you 1 Day Special Malaysia Foreign Sourced Income Tax Planning Seminar featuring Dr Choong Kwai Fatt as the Speaker.
7 CPD
Limited seats available, subject to first come first-served basis.
Upon completion of Foreign Sourced Income seminar, participants would be thoroughly equipped. Able to advise on FSI matters and confidently make a wise, informed decision on bringing back FSI, including applying the special remittance scheme.
2022 is an important year for every Malaysian to make a wise and informed decision. Whether to bring your FSI back into Malaysia to reap a high exchange sum, also to be eligible for the newly revised tax exemption.
Extend exemption for Individual
The Government has acted promptly to extend the income tax exemption to Malaysian individuals to withdraw the earlier 3% tax rate on FSI received in Malaysia.
However, uncertainties remained as to whether the Government would be hard-pressed by the global tax development, particularly the EU and OECD countries, in preventing harmful tax practices on the FSI regime.
Unique Remittance Scheme
On the interim period of 1.1.2022 – 30.6.2022, the Government has mooted a unique remittance scheme that allowed the repatriation of Malaysian derived income which has not been reported but wrongly diverted to overseas (foreign income).
An income tax rate of 3% would be imposed, with the remittance supported by a declaration on 1.7.2022. The special remittance scheme only applies to Malaysian derived income underreported, wrongly reported for prior years of assessment 2021. IRB promises no tax audit, no tax investigation and no enquiries on the sum remitted.
A tax seminar that extends beyond the classroom
The continuing changes and development on FSI in 2022 is evolving. With great important, impactful embedded with fatal complications. Analysis of tax updates, changes of FSI through Synergy TAS’s close-group bulletin provided via email to participants with notification of the tax implications on a real-time basis until year ends (31 December 2022).
Participants would be additionally supported via email individually with a personal 6 questions until the year ended.
This seminar is a must to attend. It deliberates the law on FSI, explains the conceptual framework, quantifies the tax implication with pragmatic solutions.
Hot Topics Covered
This practical tax seminar on Malaysia's NEW Foreign Sourced Income divides into FIVE key components:
It is a complete practical workshop that provides an in-depth explanation on:
- the Right conceptual + documentation of the foreign source income;
- The Special Remittance Program by Ministry of Finance;
- Dr Choong will reveal his New tax planning on FSI especially for individual & dividend;
- The company’s new structure to receive the overseas dividend in Malaysia;
- The conversion of partnership to LLP is a must to ride on dividend income exemption, from 1.1.2022.
#PS: Also includes documentation for capital and income receipts.
"The fastest route to absorb new tax skills is through Q & A." 2 hours allocated for Q & A.
Foreign Sourced Income is here to stay. FSI is here, know what you need to do and how to response and provide right advice.
The year 2022 is a critical year to determine and make a sound judgement as to:
- to remit or not remit the fund into Malaysia;
- if remit, whether:
- To go for exemption; or
- Participation in the special remittance program with a tax of 3%.
Tax is Not Forgiving.
Ignorance in Tax come with a very Pricey price tag.
Updated QUICK and IMMEDIATELY.
All in one Foreign Sourced Income 2022 tax seminar.
Get Most Up to Date Tax Planning.
Covers all Aspect of Foreign Sourced Income.
We are eager and look forward to seeing you in this Live Zoom Session.
Stay safe and healthy!
What you will learn ?
CONTENT INCLUDES...
The contents of this seminar include but are not limited to: –
#1 Boundaries and Impact
- Scope and ambit of FSI
- “Ring-fence” procedure
#2 Malaysian derived business income
- The myth
- The confusion
- Its scope
- Foreign income but Malaysian deemed derived – what you need to know
#3 Buying and selling forex and shares
- The boundary between investment and trading and its tax impact
- Be clear on the dividing line between Malaysian derived and foreign source income
#4 Labuan as an option for everything?
- mechanism of Labuan trading company
- application of Labuan non-trading company
- pure investment holding company
- tax implications, complications and application
#5 Commission income derived outside Malaysia
- Justification on foreign source income
- The danger being marked as business income [s 4(a)]
- Advantages of commission income as other income [s 4(f)]
#6 Malaysian employment, overseas employer
- Malaysian deemed derived income – applications and scope
- tax implication on the restrictive stock unit (RSU) subscription
- Dividend income arose from RSU – foreign income or Malaysian income?
- Tax planning on overseas assignment – the implementation steps
#7 Common reporting and sharing of bank accounts
- IRB power to access bank accounts in 108 countries
- taxpayer’s duties to disclose foreign bank accounts in tax return
- IRB to access Malaysian bank accounts for tax recovery – the new law (s 106A)
#8 Special remittance scheme
- The mechanism and procedure
- Tax audit, investigation and enquiry
- Documentation needed or not?
#9 Foreign source income for individuals is now all exempt
The new fatal complication as to documentation
Evidential value and documentation to support foreign source income
the types and categories of documentation neede
The crucial demarcation period
– pre 2015
– post 2015
#10 Individual at tax crossroad
Guideline in making an informed decision on repatriation of foreign income
Succession planning to the beneficiaries – now or never
#11 Divided income is now exempt to company/LLP
scope and meaning of dividend
tax structure to optimize dividend payment
#12 Tax planning especially for individuals – noting points..👍👍
non-resident bringing in foreign source into Malaysia is no tax – bring the money in now or later?
gift to parents, children and spouse – cash now or by will?
Malaysian tax resident working in Singapore – the tax efficiency consideration
#13 Partnership transformation into LLP
noting points
step by step guidance
JOIN THIS SEMINAR.
Grab these rare Malaysia Foreign Sourced Income 2022 Tax Planning Opportunities.
WHAT PAST PARTICIPANT THINKS
ABOUT OUR SEMINAR LAST YEAR
REVIEW
Part 1
Part 2 (Questions & Answer) 12:30 AM to 1:30 PM
Part 3
Part 4 (Questions & Answer) 5:00 pm to 6:30 pm
…. More content may be added as changes where relevant changes related to Foreign Sourced Income prior to event date.
Want to see a detailed list of content discussed in this seminar? Click on this button.
How the seminar is conducted?
Live Zoom Seminar
FSI 2022 – An Important Date with Dr Choong
We will send you :
- The reference book prior to the seminar,
- The Zoom link with instruction within one day before the seminar date;
- the pdf version of the slides too so that you can make relevant notes to ease studying of the materials,
- The Q & A link to submit your questions: Prior, During and Post seminar.
JOIN THIS SEMINAR.
Grab these rare Malaysia Foreign Sourced Income 2022 Tax Planning Opportunities.
PRICING
Choose the right category based on the number of participants.
Group of
1 - 2 Pax
RM1300
RM
930
REGISTER 1 - 2 PAX
Seat are limited and subject to first come, first served basis.
Group of
3 - 4 Pax
RM1300
RM
850
-
(RM 930 - RM 80 (Group Discount) = RM 800 per pax)
REGISTER 3 - 4 PAX
Seat are limited and subject to first come, first served basis.
Group of 5 Pax
& more
RM1300
RM
750
-
(RM 930 - RM 180 (Group Discount) = RM 750 per pax)
REGISTER 5 PAX & MORE
Seat are limited and subject to first come, first served basis.
Popular
JOIN THIS SEMINAR.
Grab these rare Malaysia Foreign Sourced Income 2022 Tax Planning Opportunities.
wHO IS
IT FOR?
Foreign source income changes and applications significantly impact the country.
FSI affects business entrepreneurs, company directors, auditors, tax agents, legal counsel, and every Individual having overseas bank accounts. This is a must to attend a seminar in 2022.
ACCOUNTANTS, FINANCIAL CONTROLLERS, SENIOR EXECUTIVES
SHAREHOLDERS AND DIRECTORS
BUSINESS AND FINANCIAL DECISION MAKERS
COMPANY SECRETARY, AUDITORS, AND TAX AGENTS
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 arising from the slashing of foreign sourced income exemption. It don’t just affect cash flow, there is a huge compliance risk.
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.
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 special amnesty available. Using tax planning to ensure your foreign income are not subject to unnecessary tax risk. (Applicable to all industry)
BUSINESS AND FINANCIAL DECISION MAKERS
(CEO, CFO, General Manager and Financial Controller)
Decision need to know with certainty what is the consequence of your foreign bank accounts.
The foreign sourced income exemption has been around for more than 20 years. With crystal clear understanding we can make the right and timely decision.
Being Decision Makers need to 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 Foreign Sourced Income 2022 Seminar in view of this ongoing Covid-19 pandemic that is happening locally as well as internationally.
Get the Latest Malaysia Approach to foreign souced Income and review its risk for your client and New Action Plan needed.
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 :
Practical ways to save tax
Experienced Senior Management appreciate the fact that the more they legally slash from Tax, the more Profit they can easily retain in the company.
Manage 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 Foreign Sourced Income 2022 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 Foreign Sourced Income 2022 Tax Planning Opportunities.
faq
Most frequent questions we received.
Our Foreign Sourced Income seminar is popular because we cover TAX PLANNING.
Conventional 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 new tax panning 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 HRD Corp Fund.
The procedures for HRDF claim is no longer the same.
It is now a 3 stages process.
Stage 1 : Register + Get pre-approval
Stage 2 : Attend Seminar
Stage 3 : Training provider makes claim & submit documents.
JOIN THIS SEMINAR.
Grab these rare Malaysia Foreign Sourced Income 2022 Tax Planning Opportunities.
Need a copy of the
We provide both. View them online or the download pdf version.
