Capital Gains Tax – Understanding the Technicalities

INTRODUCTION

Capital Gains Tax (CGT) is one of the largest tax reforms in Malaysia since beginning of this century. CGT applies on both gains arising from domestic transactions and overseas transactions. It is important for tax agents and tax practitioners to be equipped with the technical knowledge of this new tax regime to be able give right inputs to taxpayers. This full day workshop is an opportunity to dive into the details of CGT

COURSE OUTLINE

• Overview of CGT

• High-level comparison with other jurisdictions

• Covered persons

• Covered assets

• Acquisition price & computation of gain for CGT purposes

• Date of disposal

• Compliance mechanism

• Transitional provisions

• Exemptions for domestic transactions

• Understand CGT on foreign transactions

• Time at which tax is imposed for foreign gains

• Economic substance requirement

• Implication of double tax agreements (DTAs).

PROFILE(s)

Key Speaker

Thenesh Kannaa is an Executive Director of TRATAX Sdn Bhd (WTS Malaysia) who advises on both international tax and indirect tax matters to clients from diverse industries including manufacturing, services, distribution, retail, construction, property development, healthcare, financial services, shipping, automotive, telecommunications, societies, GLCs, and statutory bodies. Thenesh is a Council Member of CTIM, chair of the Technical Committee on Direct Tax I, and member of other technical committees. He is also a member of ACCA’s expert panel on taxation, a member of the Industry Advisory Panel for Taylor’s School of Professional Studies, and an exco member of the International Fiscal Association’s Malaysian branch. Thenesh is also the author of various books and articles on taxation.

Guest Speaker

Anil Kumar Puri has over 20 years of tax experience and leads the EY International Corporate Tax Advisory and Tax technical teams in Malaysia. He has been involved in numerous cross border advisory engagements (both inbound and outbound), particularly in relation to tax and regulatory issues that companies investing in Malaysia and abroad face. These issues include the impact of the OECD’s BEPS action plans and the BEPS 2.0 project on holding and transactional structures, regulatory and licensing approvals, withholding taxes, tax incentives, the structuring of operations in a business-focused and tax-efficient manner and exit strategies.