Self-Rescue:

Taxability of Employment Income & Managing Payroll Tax Audit Risks

Attending this webinar and learn how to reduce mistake in preparing Form E & Form EA and minimize the risk during payroll (PCB) tax audit

Every February and March is the time that Human Resource department or Finance department of business organisation is always busy on preparing the Form E and Form EA that to be issued to employees for their income tax declaration. However, the challenges that they always faced are they are unsure the tax treatment of those allowances, perquisites, benefits e.g. car allowances, car maintenance cost that fully paid by employers, petrol cost fully paid by employer etc and are required to be disclosed in the Form EA and many employees may request the employers not to disclose that so they do not need to pay tax. But the employers who doing so must be aware of the risks and consequences to the company’s tax audit.

In fact there are some tax exempt perquisite and benefits that employers can structure the remuneration package of the employees to maximise the tax benefits.

Other than that, there are also other Statutory Forms like CP22, CP21 and CP22A that the employers are also required to prepare and submit to IRB. But many employers are not aware of that compliance requirement and may overlook of that.

Who Should Join? 

1. Manager/ Executive who are preparing Form E and Form EA
2. Manager/ Executive who are calculating PCB
3. Directors
4. Anyone who are in relation to payroll and/ or account

Who is at risk of IRB scrutiny?

1. Complex payroll package including non-monetary benefits provided by employer
2. Monetary and non-monetary benefits provide to non-company staff
3. Payroll record does not synchronize with account
4. Non-taxable income declared
5. Company who are using or not using payroll system

What You’ll Gain

TIPS #1 Taxability of employment income

  • Highlight the tax treatment of the type of employment income
  • Highlight the tax-exempt perquisite and benefits in kind that are provided under the tax laws
  • Highlight the tax risks and implication of non-disclosure of perquisites and benefits in kind in the Form EA
  • Perquisites and benefits in kind subject to PCB deduction?
  • Provide some tax advise and recommendation for the solution
  • What is Form PCB/TP1 and PCB/TP3?

TIPS #2 Form CP22, CP21 & CP22A

  • Briefly explain what are the Form CP22, CP21 & CP22A and in what circumstances that employers are required to prepare and submit to IRB
  • What is the submission timeline that required by tax laws?

Speaker

Jack Wong

Senior Tax Manager

 

Ms Jack Wong joined Cheng & Co in year 2011. She was graduated from University Tunku Abdul Rahman in year 2006. Besides, she is trained by the GST Division of Royal Malaysia Customs. Before she joined Cheng & Co, she was working in Deloitte KassimChan Tax Services Sdn Bhd. She is having more than 10 years of working experience is taxation, Her tax experience is on wide range of businesses such as manufacturing, trading, hotels, agriculture and etc. she is now mainly involved in tax compliance cases.

Izzah Nur Fatimah

Tax Assistant Manager (Pandan Indah)

 

  • Member of Malaysian Institute of Accountants (MIA)
  • Member of Chartered Tax Institute of Malaysia (CTIM)
  • 6 years of working experience in taxation

Ms Izzah, has 6 years of working experience in taxation. By having working experience in both audit and tax line, it helps to enhance her knowledge when performing taxation, GST and SST task. Her tax experience is on wide range of businesses and personal tax such as manufacturing, trading, hotels, agriculture, airline, expatriate cases and etc. She is now mainly involved in tax advisory and compliance cases.

Lau Hui Xian

Tax Assistant Manager

 

Ms Lau Hui Xian has joined Cheng & Co Taxation Sdn Bhd (CCT) since Year 2018. She graduated from Multimedia University, as a degree holder in Bachelor of Accounting (Honors) in Year 2012. With previous working experiences of four years in Audit and Tax department, and additional of two years’ experience in accounting sector, these assist her to have clearer picture on corporate operation and enhance her to apply knowledge when performing service.

During the years of working in CCT, she has developed knowledge from wider industries and more specialized in corporate tax and personal tax.

Executive Team, Management & Representative_Tai Chai inn

Tai Chai Inn

Tax Assistant Manager

 

Ms Tai Chai Inn joined Cheng & Co Taxation Sdn Bhd in 2006. She has 15 years of working experiences in tax and accounting services. In her current role, she mainly involved in tax advisory, compliance cases, tax planning , tax investigation and tax incentive application. Her tax experiences are on wide range of business tax and personal tax such as manufacturing, trading, hotel, developer and etc.

Register Now

KNOW-HOW-TO-SELF-RESCUE from Cheng & Co Taxation Team by joining the webinar on:

Date

Time

Venue

Language

Speaker

Register

24th February

10am – 12pm

Online Zoom

Mandarin

Jack Wong

24th February

3pm – 5pm

Online Zoom

English

Izzah Nur Fatimah

25th February 

10am – 12pm

Online Zoom

English

Lau Hui Xian

26th February

10am – 12pm

Online Zoom

Mandarin

Tai Chai Inn