Taxation Course 2022: Module 1 – Fundamental of Malaysian Taxation on The Rules of Business Deduction in Malaysia (In Collaboration With MAICSA)

COURSE OUTLINE

1. The Concept of Capital and Revenue Expenditure
2. Section 33(1) ITA 1967 – the Crucial Elements To Be Considered
3. Provisions vs Accruals
4. Tax Treatment on the Following Expenses:
   – Interest expense
   – Repairs and maintenance
   – Employee’s deductions
   – Legal and professional expenses
   – Head office and management expenses
   – Key-Man Insurance
   – Professional indemnity insurance
   – Losses through theft, embezzlement or misappropriation
5. Special business deductions under Section 34 ITA 1967
   – Deduction for bad and doubtful debts
   – Contribution to an approved scheme
   – Expenditure related to taxation
   – Refund of an advanced payment
   – Other expenses eligible for deduction
6. Tax treatment on foreign exchange loss
7. Treatment on stock in trade
8. Types of expenses disallowed for deduction under Section 39 ITA 1967
   – Entertainment expenses
   – Others
9. Tax treatment on pre-operational and pre-commencement business expenditures
10. Loan or advances given to director

PROFILE(s)

Wong Yoke Lin is a dedicated tax advisor with more than 24 years which includes a 14-year with major taks professional firms and 10-year with the local conglomerate and the established large multinational corporations. She has been involved in tax compliance for ASEAN countries, advising multinationals on tax planning, tax incentives claims, corporate and business restructuring, merger and acquisition, tax due diligence review, international tax projects (such as permanent establishment, BEPS, cross border taxes and the application of double tax treaties), transfer pricing projects and risk management, tax audit and investigation problem solving, GST/VAT, Customs’ duties appeal and valuation and tax reporting (such as year end tax provision, deferred tax provision and Fin 48/ASC-740 disclosure and reporting). In addition, Yoke Lin has substantial experience in advising tax aspects of supply chain planning and execution for the establishment corporations located in ASEAN countries and China.