Research & Development: Exemptions and Deductions and Selected Industries

INTRODUCTION

Research and Development is a science which is playing increasing relevance in the Malaysian Economy as it progresses into High Technology. Government’s objective is that through the adoption of Research and Development, new approaches in the manufacture of materials, devices, and products may be achieved. This in turn will lead to Malaysian products being more attractive and thus boosting our economy.

Research and Development offers wide taxation opportunities for both those entities that perform R & D Services and those which wish to claim expenses incurred in carrying out related operations within their business activities. The resultant benefits could take the form of either exemption from tax liability or qualifying expenditure against income.

Further, participants will be guided through exploring related Investment Incentives and also options for claiming Single or Double Research and Development expenditure.

COURSE OUTLINE

PROFILE(s)

Vincent Josef began his career with the Inland Revenue Board in 1968 and over the next 35 years, he served in various Branches. Prior to his retirement, he was with the Board Headquarters where he held the position of Assistant Director General. In addition, he has wide experience in lecturing at IRB events and Malaysian professional institutions including Chartered Tax Institute of Malaysia, Malaysian Institute of Accountants, CPA Australia, MAICSA and Commerce Clearing House (CCH) Malaysia. With his more than 55 years’ experience in the field of taxation, Mr. Josef also manages his own practice providing taxation consultancy services focusing on Tax Audits and Investigations, Appeals, and MIDA applications for Investment Incentives. He has written a book “Tax Audit and Investigation Guide – Malaysia” published by CCH Malaysia and served as their Consultant Editor in respect of the Malaysian Master Tax Guide for eight years.