Malaysian Individual Taxation Series 1: Practical Insights into Employers and Employees Tax Compliance

INTRODUCTION

Being an employer brings responsibilities. In this session, participants will be updated with recent employment tax developments as well as looking at recent tax issues which arise during a tax audit. IRB has how focus on employers/employee’s failure to comply with tax rules and regulations and tax audits are on the rise.

With the current stringent tax audit carried out by the Inland Revenue Board (IRB), employers have to keep abreast of changes to tax laws and regulations in order to discharge its obligations. Non-compliance will lead to substantial penalties and heavy compounds being imposed by the IRB.

Employer and Employee Tax Provision Latest Updates and Operational Procedures.

COURSE OUTLINE

FIRST SESSION

• Section 83 of the ITA and Income Tax (Deduction From Remuneration) Rules 1994, 2015 and 2017.
• Preparation of Filing Form CP 21, 22, 22A, CP8D, Form EA, Form E, Form TP 1, TP 3, Form CP 58 – the common mistakes to avoid.
• Audit framework for employers issued by IRB on 1st October 2021.
• How IRB conduct Employer’s and MTD Audit – Recent Tax Issues.

SECOND SESSION

• Rights and Responsibilities on fulfilling Employer Tax Obligations.
• Malaysian Tax Issues on Foreign Expatriates and foreign workers.
• Meaning of “Deemed” Employer under Section 83(6) ITA 1967.
• Tax incentives available for employers.
• Summary of employment source income.
• Personal tax relief/ deductions for YA 2021.

PROFILE(s)

Yong Mei Sim has served over 35 years in the Inland Revenue Board of Malaysia (“IRB”) and held the last position as the Principal Assistant Director of the Penang branch, before retiring in 2016. She obtained a Bachelor of Science Degree majoring in Economics with a Second Class Upper from the University Science of Malaysia in Penang. She was later awarded the prestigious JPA scholarship to pursue and successfully completed her Master’s of Science in Taxation from the Golden Gate University in San Francisco, USA. During her tenure in office, she has been, inter alia, an audit manager in charge of the Payroll Taxes Unit, Field Audit and Desk Audit Unit. She had actively assisted the Federal Councils of the IRB in handling tax litigation cases. Among the landmark tax litigation cases which she was directly involved are ICTSB vs DGIR, PSSB vs DGIR and Marigold (M) Sdn Bhd vs DGIR. With her vast knowledge and experience in the field of Malaysian taxation, she has been invited by the IRB and other professional bodies to speak extensively around the country and to share her valuable experience and expertise on income tax updates and all other relevant taxation matters.