CHALLENGING TIMES
AHEAD, DON’T FACE
THEM ALONE!
SPECIAL TAX & GST BRIEFING FOR
PROPERTY DEVELOPERS & CONTRACTORS
20 APRIL 2017
Organised by:
Venue:
Banquet Hall, Royal Lake Club Kuala Lumpur, Taman Tasek Perdana,
Jalan Cenderamulia, Off Jalan Parlimen, 50480 Kuala Lumpur
http://www.royallakeclub.org.my/#!contact/c1gjy
Date & Time:
Thursday, 20 April 2017
8.30am - 2.00pm
Entry is complimentary and by invitation only.
RSVP:
[email protected] by 6 April 2017
“The weak ringgit, low commodity prices and impact of the GST on the economy are among the key challenges Malaysia faces.
Against this background, the IRB expects to collect RM127 billion in 2017. The Customs Department aims to collect an additional RM3 billion in GST from the ongoing Customs Blue Ocean Strategy (CBOS) 3.0 audit.”
This seminar is specifically tailored for property developers and contractors. Our tax partners will share their insights and
strategies to fortify your tax risk management. They will cover:
Part A: Income Tax
1) Deductibility of property valuation fee
2) Recognition of income (date of CPC)
3) Deductibility of donation, penalty payments in
construction work in progress & site expenses
4) Deductibility of land premium costs, professional fee,
advertising and promotional expenses (discount given
to royalty) & borrowing cost
5) Deductibility of interest expenditure on loan
(redeemable convertible unsecured loan stock)
6) Deductibility of guarantee fee
7) Group relief (reading of Section 44A(9))
8) Deductibility of expenses related to land contributed to
state government
9)
10)
11)
12)
13)
14)
15)
16)
Recognition of income (date of CPC vs actual
completion of project/ finalisation of final accounts)
Deductibility of expenses for contract costs
Deductibility of expenses for bonus
Deductibility of Bumiputra discount pursuant to the
REHDA Circular No. 1/2011 (Bumi Quota Release
Mechanism)
Deductibility of penalty payment for the application
for release of bumiputra units
Withdrawal of stock – revaluation was treated as
withdrawal of stock
Interest restriction issues
Badges of trade vs investment asset
Part B: GST
1) Whether the developers can argue that furniture is a
composite supply for the residential property and treat
it as an exempt supply?
2) Is Customs entitled to deregister SPVs with no output
tax in 12 months?
3) Whether Government grant/cash incentives is subject
to GST?
4) Transitional issue: the meaning of “general review”
under Section 187 of the GST Act
5) Recovery of cost: disbursement or reimbursement?
6) Recent amendment of Second Schedule of the GST Act:
surrender of land to government or public authority
7) Development right — a supply of goods or services?
8) GST treatment of a corporate guarantee
9) Customs and Excise Commissioners v Mirror Group plc
(Case C-409/98) — Whether reverse premium/capital
contribution is subject to GST?
Programme:
8.30am:
9.00am:
12.15pm:
1.00pm:
1.15pm:
10) Sunchen Pty Ltd v Commssioner of Taxation [2010]
FCAFC 138 (Federal Court, Australia)
— Determining “intended usage” of land
11) Gardner & Co [2011] TC 01320
— Compulsory deregistration
12) Commissioner of Inland Revenue v New Zealand
Refining Co Ltd (1997) 18 NZTC 13, 187
— Definition of supply
13) Nell Gwynn House Maintenance Fund Trustees v
Customs and Excise Commissioners [1998] UKHL 50
— Disbursement and Reimbursement
14) Westley Nominees Pty Ltd & Anor v Coles
Supermarkets Australia Pty Ltd [2006] FCAFC 115
(Federal Court, Australia)
— Transitional provision: Renewable or non-renewable
15) Billing v Pill [1954] QB 70
— Definitions of fixtures and fittings
Registration and welcome coffee
Managing the taxman: Insights into managing GST & Tax investigations and audits by S. Saravana Kumar
Responding to civil proceedings and AMLA enforcements by Bahari Yeow Tien Hong
Insights into CBOS audit by Customs by an invited speaker from the Royal Malaysian Customs
Panel discussion & Q&A moderated by Datuk D.P.Naban
Closing ceremony by YB Datuk Halimah Mohamed Sadique
Lunch
GUEST OF HONOUR:
S. Saravana Kumar
Partner
Tax, GST & Customs
Bahari Yeow
Partner
Tax, GST & Customs
Datuk D. P. Naban
Senior Partner
Tax, GST & Customs
YB Datuk Halimah Mohamed Sadique
Deputy Minister of Urban Wellbeing,
Housing & Local Government
www.lh-ag.com