2016 Employer’s Income Tax Reporting
14 February 2017
Deloitte Malaysia held a seminar on Employer’s Income Tax Reporting at Mutiara Hotel, Johor Bahru on 14 February 2017. The 2016 Employer’s Income Tax Reporting Seminar covered an extensive range of topics and was designed specifically as a refresher course to educate employers on tax reporting requirements. The seminar was attended by participants from a range of industries such as manufacturing, distribution, logistics and property development. During the seminar, our tax experts also provided practical aspects of employment income reporting for employers and highlighted the recent changes by the IRB.
Click here to view photos of the event.
CbCR & New Reporting Requirements Seminar
15 February 2017
On 23 December 2016, the IRB issued Income Tax (Country-by-Country Reporting) Rule 2016 (CbCR Rules), in line with the final recommendations of OECD BEPS Action Point 13. CbCR is expected to assist IRB in conducting effective risk-based audits with more transparent information. The CbCR information requested by IRB is for assessing transfer pricing/BEPS risks. CbCR Rules will primarily impact multinational groups of companies with headquarters in Malaysia. In this regard, the Deloitte Transfer Pricing Services Group conducted a complimentary breakfast briefing to share insights on the following with our clients: 1. CbCR framework and how it will affect companies 2. Preparedness for CbCR compliance – risk assessment of existing structure, data management, efficient centralised documentation approach, etc. 3. Deloitte solutions and tools.
Click here to view photos on our Facebook page.
Deloitte SEA Tax Challenge 2017
23 – 24 February 2017
After the successful inaugural Deloitte SEA Tax Challenge 2016 in Malaysia last year, this year’s Deloitte SEA Tax Challenge was hosted at the Deloitte University Asia Pacific in Sentosa, Singapore on 23 and 24 February 2017. The event saw the impressive participation of over 2,500 students from different universities in Singapore, Malaysia, Indonesia and Thailand. Participants competed in two categories - individual and team – where they were given the chance to showcase their tax knowledge, particularly on the hot topic of Base Erosion Profit Shifting (BEPS) and tax laws in their respective countries. The participants were also judged on their presentation skills. Lim Mei Ngoo, Loi Pei Wen, Eugene Chiew and Joesvan Liew from University Tunku Abdul Rahman and Voon Tein Wei from Swinburne University of Technology, Sarawak represented Malaysia at the Deloitte SEA Tax Challenge 2017 finals, where Indonesia emerged as champion for both the individual and team categories.