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Tax Management and Incentives in Specialised Industries

20
Jul

TIME

9:00 am - 5:00 pm

CPD POINTS

8 (S153 recognised)

EVENT CODE

22WS/018

HRDF Claimable

Yes

VENUE

Webinar via Zoom

REGISTRATION FEE (RM) Registration fee is exclusive of 6% Service Tax

CTIM Member (22WS/018)

300

CTIM Student (22WS/018)

300

ACCA Member (22WS/018)

300

Members Firm Staff (22WS/018)

330.19

Non-Member (22WS/018)

400

Closing Date | 18 July 2022

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INTRODUCTION

In the wake of Global Covid devastation, various efforts are underway to stabilize, strengthen, and diversify the Malaysian economy while offering numerous incentives to heighten the application of high-technology.

COURSE OUTLINE

This webinar covers the more popular areas of business interest and is presented on a practical basis, including the following:

Selected Strategic Activities and High-tech Products:

1. Small/Medium Scale Enterprises
This sector includes a wide range of activities like manufacturing and related processing, iron and steel products, chemicals and pharmaceuticals, textiles, agriculture, apiculture, and electrical/electronic components. SMEs are also eligible for Pioneer Status and Investment Tax Allowance.

2. MSC Malaysia
For businesses located in Cybercity/Cybercentre and even outside, tax benefits are granted to those related to information technology systems and innovation.

3. Aerospace Industry
Activities include design, construction, and maintenance of related products such as aircraft, communication and navigation systems, and MRO support groups

4. Automotive Industry
Manufacture of value-added parts and components like transmission, brake, and steering systems, and hybrid or electric vehicles

5. Manufacturing Sector
Promoted activities would comprise processing agricultural produce, manufacture of pharmaceuticals, petrochemicals, machinery, and electronic products.

6. Food Production
This covers the processing and canning of meat, and the manufacture of cereals, milk, biscuits, and noodles. Other principal activities include fresh and canned fruit juices, and aquaculture products. Halal food processing can also enjoy special incentives.

Also included are the following guides:

I. Determination of qualifying activities and incentives available
II. Comparative study of Pioneer Status, Reinvestment Allowance, and
Investment Tax Allowance
III. Incentives for Research and Development
IV. Examples and Computations with Case Studies
V. Making Incentive Applications to MIDA

Core Webinar Objectives:
a) Knowing the various industry-incentives available
b) Understanding the relevant methods of computation

 

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 Operations Division of 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 50 years’ experience in the field of taxation, he also manages his own practice providing taxation consultancy services focusing on Tax Audits and Investigations. 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.

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