TAX Planning For Hr Managers

• Types of Benefits in Kind (BIK) and perquisites that attract tax for employees
• Can the employer claim full tax deductions for all monetary and non-monetary benefits?
• Knowing the duties and responsibilities of both employer and employee with regard to tax
• Identify and explore the various tax benefits for employees
• Planning a tax efficient remuneration package for executives
• Knowing the various tax reliefs and rebates given to employees
• Tax treatment of gratuity and compensation paid to employees
• Knowing how to compute personal income tax
• Latest tax developments and case laws relevant to treatment of income tax

• CEOs.
• Directors.
• Senior Managers.
• HR Managers & Executives.
• Tax Agents/Advisors.
• Tax Specialists.
• Tax Accountants.
• Finance and Administrative Managers.
• Financial Controllers and Planners.
• Company Secretaries.
• Bankers.
• Advocates & Solicitors.
• Entrepreneurs.

DAY 1: 9:00 AM – 5:00 PM

9.00AM - 10.30AM 
A. WHAT CONSTITUTES TAXABLE BENEFITS FOR EMPLOYEES

• Gross salaries / wages / leave pay
• Fees / commission / bonus / allowances / overtime / gratuity / etc
• Perquisites
• Benefits in kind (BIK)
• Living accommodation provided by employer
• Refunds from unapproved pension funds
• Compensation for loss of office

10.30AM - 10.45AM Break

10.45AM - 1.00PM 
B. WHAT ARE DUTIES AND RESPONSIBILITIES OF BOTH THE EMPLOYER AND EMPLOYEE WITH REGARD TO INCOME TAX COMPLIANCE

• Recruitment / Retirement of employees
• Monthly tax deductions scheme (PCB)
• Dealing with foreign workers / non-residents
• Determining resident status for employees
• Procedures for withholding payments
• Types of return forms / How to fill up the forms?
• (Form EA/E/BE)
• Non-compliance consequences
• Overview of Self-Assessment system for individual taxpayers (including dealing with tax audit & tax investigation).

1.00PM - 2.00PM Lunch

2.00PM - 3.30PM 
C. TAX TREATMENT OF EMPLOYMENT INCOME

• Planning for tax efficient remuneration package
• Pitfalls / traps to be avoided when planning remuneration for executives /directors
• Valuing non monetary and monetary benefits provided to employees
• Maximizing tax reliefs and rebates given to employees
• Tax treatment of gratuity and compensation paid to employees
• Designing an effective tax computation system

3.30PM - 3.45PM Break

3.45PM - 5.00PM
D. TAX IMPLICATION ON BENEFITS IN KIND (BIK) PROVIDED TO EMPLOYEES

• What is meant by BIK?
• Ascertainment of the value of BIK
• Computing value of BIK (Formula method and prescribed value method)
• Company car and other related benefits (Driver, petrol, etc)
• Household furnishings, apparatus & appliances
• Other taxable benefits
• Tax exempt benefits
• Treatment of mobile telephone / leave passage

DAY 2: 9:00 AM – 5:00 PM

9.00AM - 10.30AM
E. PERQUISITES PROVIDED TO EMPLOYEES

• The distinction between perquisites and BIK
• Types of perquisites and the tax treatment
• Employees pecuniary liabilities
• Credit card facilities
• Loan interest
• Recreational club membership
• Tuition or school fees of child
• Insurance premiums
• Gardener, driver, domestic help or guard
• Scholarship
• Waiver of loan or advance
• Assets provided free of charge or sold at discounted prices
• Gift vouchers
• Gift of personal computers
• Excellent Public Service award
• Professional subscriptions
• Income Tax of the employee borne by the employer

10.30AM - 10.45AM Break

10.45AM - 1.00PM
F. LIVING ACCOMMODATION BENEFIT PROVIDED BY THE EMPLOYER

• Tax treatment of living accommodation benefit provided to employees and service directors
• Computation of value of living accommodation
• Circumstances in which the value of benefit can be reduced.

1.00PM - 2.00PM Lunch

2.00PM - 3.30PM
G. COMPENSATION FOR LOSS OF EMPLOYMENT

• Under what circumstances compensation for loss of employment arises?
• Distinction between payment for compensation and payment for gratuity
• Computation of taxable benefits

3.30PM - 3.45PM Break

3.45PM - 5.00PM
H. BUDGET 2022

• Finance Act 2022

I. QUESTIONS & ANSWERS SESSION

Power-point presentation, Participants’ interaction, questions & answers

HARI RAMULU A/L MUNUSAMY

FCCA[UK], CA[M], CMIIA, ACTIM, MMIM, Associate of ACFE[USA], Associate of MACFE, Member of MATPRO, Member of IMA, Member of MIHRM, Member of MAPS, Member of MAPTaC, MBA [Accounting]

Hari Ramulu a/l Munusamy is a Chartered Certified Accountant, with wide experience in audit private practice and in financial/management/public sector accounting, auditing and taxation educational process, having been in the profession and industry since October 1974.

He started his career with Messrs: F.H.Eiles & Co., a firm of Chartered Accountants in London as an Audit Assistant in October 1976 (after Diploma in Accounting, Newcastle-Upon-Tyne). Subsequently, he continued his career as an Audit Supervisor with Messrs: Coopers & Lybrand (now known as PricewaterhouseCoopers), Kuantan in May 1984. In January 1986 he joined Messrs: Senthe & Co (a firm of Chartered Accountants in private practice in Petaling Jaya), as an Audit Manager, till December 2006. He had also worked as a group accountant for FARMCO Sdn. Bhd. He had lectured at various institutions of higher learning, as a part-time and full-time lecturer, from October 1988 till June 2014.

Over the years, he gained knowledge, experience, skills and expertise in accounting, auditing and taxation related services including tax investigation, forensic accounting and company valuation and floatation.

He is deemed to be a prolific speaker/presenter with excellent commendations from participants, at seminars, workshops, conferences. He has several public appearances relating to taxation, costing, budgeting, financial statements analysis, accounting standards, preparation of financial statements, financial statements fraud, forensic accounting, GST (pre and post implementation), Sales Tax 2018 and Service Tax 2018.

Professionally, he is a Fellow member of the Association of Chartered Certified Accountants of UK, a Chartered Accountant of the Malaysian Institute of Accountants, an Associate member of the Malaysian Chartered Institute of Taxation, a Chartered member of the Institute of Internal Auditors of Malaysia (affiliate of USA), an Associate member of the Association of Certified Fraud Examiners of USA, an Associate member of MACFE, member of MATPRO, member of IMA, a member of MAPS, a member of MAPTaC, and a member of Malaysian Institute of Management.

His academic excellence is in the form of (a) Diploma in Accountancy (Newcastle-Upon-Tyne, England), and (b) Master of Business Administration (Accounting) from University of Newcastle, USA.

ACADEMIC QUALIFICATION

1976 - Diploma in Accountancy, Newcastle-Upon-Tyne Polytechnic, UK

2007 - Masters in Business Administration (Financial Accounting), University of Newcastle, Delaware, USA, through Asian Institute of Management Science 

Upon successful completion of this program, you will receive a Certificate of Achievement.

1. By Credit card: You can opt to register and pay online with our latest payment integration system through our website.
2. Bank Transfer- You can also opt to bank transfer payment via local / international banks. Please send payment slip as proof of payment.
3. HRD Corp Claimable Courses Skim Bantuan Latihan Khas - Applicable to Malaysian Employer Only

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