Tax Issues of SMEs

INTRODUCTION

Tax laws are constantly being updated on a yearly basis to tighten tax loopholes, as well as to ensure that tax laws are reflective of the government’s policies. Despite making up the largest group of tax payers, individually, SMEs face the big challenge in ensuring full compliance of changes to tax legislations due to their size and limited resources at their disposal. Many face the conundrum between survival and ensuring full tax compliance, therefore adopt the strategy of surviving the business first and worry about tax compliance later. This programme aims to highlight the latest developments in tax laws, which, give rise to these tax issues, methods to ensure compliance as well as the consequences of ignoring these tax compliance issues.

COURSE OUTLINE

• Treatment and documentation of Commission Expenses

• Illegal and “Grey Area” Transactions

• Software in the definition of Royalty

• E-Commerce transactions and Digital Advertising

• Limited Liability Partnerships vs Sdn Bhd

• Deductibility of Tax Agent Fees and Secretarial Fees

• Relief for Error or Mistake under Section 131

• Directors’ Accounts

• Audit Exemption

• Assessment under Section 90(3) and late filing of Audited Financial Statement

• Taxation of Foreign Source Income received by Tax Resident

• Eligibility of SME income tax rate

• Interest on related party transactions

• E-Invoicing

• Capital Gains Tax

PROFILE(s)

Jesudason Arulsamy has over 15 years experience in the area of taxation specializing in the area of tax audit and tax investigations. He has advised many local and international clients on taxation and other business compliance matters. He also has experience as a Company Secretary and providing Forensic Accounting consultancy including testifying in court as an Expert Witness. Prior to setting up his own practice, Jesu has experience as a lecturer for professional courses and had audit experience in one of the Big 4 Audit Firms. Jesu is currently the Tax Director of Dason & Dason Corporate Advisors Sdn Bhd. He was formerly the Chairman of the Southern Branch of the Chartered Tax Institute of Malaysia and a former Committee Member of the CTIM Tax Audit and Investigation Working Group and Public Practice Committee.