Highlights of Budget 2017 Part II - Ernst & YoungFILE/EY-highlights-of-budget-2017-part-ii.pdf · Tax alert Highlights of Budget 2017 (Part II) 26 October 2016 Volume 19, Issue 23

Tax alert Highlights of Budget 2017 (Part II) 26 October 2016

Volume 19, Issue 23 1

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Highlights of Budget 2017 (Part II) Volume 19, Issue 23

26 October 2016

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Tax alert



Highlights of the Finance Bill 2016

Payments for services performed outside Malaysia now subject to withholding tax

Definition of royalty and public entertainer widened

Ensuring compliance with BEPS Action Plans vide penalties

s highlighted in Tax Alert No. 22/2016 (Highlights of Budget 2017 (Part I), the Finance Bill

2016 was not released on 21 October 2016 after the Budget 2017 Speech was delivered.

Instead, it was released on 26 October 2016. The Finance Bill 2016 proposes 26 amendments

to the Income Tax Act 1967 (ITA), three (3) amendments to the Petroleum (Income Tax) Act

1967 (PITA), two (2) amendments to the Real Property Gains Tax Act 1976 (RPGTA), two (2) amendments

to the Labuan Business Activity Tax Act 1990 (LBATA) and 23 amendments to the Goods and Services Tax

Act 2014 (GSTA). The Finance Bill 2016 (Finance Bill), however, did not include the proposed changes to

the Stamp Act 1949. It is expected that these changes will be addressed in a separate Bill.

To increase the Governments revenue collection, the Finance Bill has widened the derivation scope and

definition of selected activities. The proviso to Section 15A of the ITA that service income under

subsections 4(A)(i) and (ii) are deemed derived from Malaysia only when the services are performed in

Malaysia, has now been removed. With the removal of this proviso, service fees paid to non-residents

under subsections 4A(i) and (ii) of the ITA will now be subject to withholding tax at 10%, irrespective of

where such services are performed. This was, in fact, the position in Malaysia pre-September 2002. It is

quite a surprise that Malaysia has reverted to this stance that is somewhat contrary to the general

principles of determining the source of income.

The definition of royalty under Section 2 of the ITA has been extended considerably to include sums paid

as consideration for the use of or the right to use software, the reception of or the right to receive visual

images or sounds transmitted to the public by satellite, cable, fibre optic or similar technology, the use or

the right to use visual images or sounds in connection with television or radio broadcasting and the use of

or the right to use radio frequency spectrums. Certain forbearance payments would now also be classified

as royalty. Notwithstanding the proposed changes to domestic tax law, taxpayers would be reminded to

consider the availability of tax treaties, in particular, access to treaty definitions of royalty, given that

treaty definitions of royalty would prevail in event of a conflict between domestic law and tax treaty

royalty definitions. The definition of a public entertainer under Section 2 has also been considerably

widened to include, for example, lecturers and speakers.

Another interesting change introduced in the Finance Bill are the penalties introduced for failing to comply

with Mutual Administrative Assistance Arrangements, including country by country reporting. The purpose

of enacting these provisions is to ensure compliance with Action Plans proposed by the Organisation for

Economic Co-operation and Development (OECD) under its base erosion and profit shifting (BEPS)

initiatives. These penalty provisions and BEPS are discussed further under the Other significant changes

section. Other salient proposals that were not mentioned in the Budget Speech are also highlighted below.

Unless otherwise stated, the proposals below, when passed by Parliament, shall take effect from the year

of assessment (YA) 2017 and subsequent YAs. Note, however, that the above stated proposals take effect

from the coming into operation of the Finance Act 2016.

A



Personal income

tax changes

Highlights

Output tax borne by the employer is part of

gross employment income

Deduction for spouse tightened where

spouse derives foreign-sourced income

Output tax borne by the employer is part of gross employment income

During the introduction and implementation of the Goods and Services Tax (GST) in April 2015, there

may have been some confusion as to whether output tax borne by the employer under the Goods and

Services Act 2014 (GSTA) in respect of benefits provided to employees, should form part of the gross

employment income for taxpayers. The Finance Bill clarifies that output tax borne by the employer

under the GSTA shall be included as part of gross income from employment, which forms part of

taxable income. This proposed change applies retrospectively from YA 2015 onwards.

Deduction for spouse tightened where spouse derives foreign-sourced income

Presently, a resident spouse or a spouse who is a Malaysian citizen, is eligible for a deduction of

RM4,000 if any of the following criteria is fulfilled:

The taxpayers spouse has no source of income;

The taxpayers spouse has no total income which can be aggregated with the taxpayers income; or

An election has been made by the taxpayers spouse for a combined assessment

It is now proposed that the existing relief of RM4,000 will not apply if the spouse has income derived

from sources outside of Malaysia and the gross income from such sources exceeds the amount of

relief provided. This restriction is, however, not applicable if the spouse is disabled (Section 47(6) of

the ITA).



Corporate income tax changes

Highlights

Deduction on donations extended to include

approved funds; deductions to approved

sports activity restricted to cash

contributions

Exemption criteria of Real Estate

Investment Trust (REIT) or Property Trust

Fund streamlined

Tax exemption on interest income

tightened

Further developments on IBA claims for

buildings which are rented out

Limitations of claims for deductions for

companies with single-tier dividends

widened

Deduction on donations extended to include approved funds; deductions to approved sports activity restricted to cash contributions

Currently, a deduction (against aggregate income) is permitted for donations made to the

Government, a State Government, a local authority, an institution or organization approved under

Section 44(6) of the ITA.

It is now proposed that Section 44(6) be amended to also permit a deduction from the aggregate

income of a person, in respect of donations of money to a fund. The fund has to be administered and

augmented by an institution or organization in Malaysia for the sole purpose of carrying out the

funds objectives. The fund in this case cannot have been established or held primarily for profit.

The Finance Bill has, however, limited the scope of deduction to a sports activity/body. Currently,

both gifts of money or in kind to a sports activity approved by the Minister or to any sports body

approved by the Commissioner of Sports appointed under the Sports Development Act 1997 would

qualify for a tax deduction (Section 44(11B) of the ITA). It is now proposed that such donations must

be made in cash, in order to qualify for a deduction, i.e. donations in kind would no longer qualify for

a deduction.



Exemption criteria of Real Estate Investment Trust (REIT) or Property Trust Fund tightened

Currently, a unit trust fund which is approved by the Securities Commission (SC) as a REIT or Property

Trust Fund is exempt from tax if 90% or more of the total income of the unit trust is distributed to the

unit holders. The Finance Bill amends Section 61A(2) of the ITA such that only a unit trust approved

by the SC and listed on Bursa Malaysia is exempt from tax, where the 90% distribution threshold is

met. For a REIT/PTF which is not listed in Bursa Malaysia or a listed REIT/PTF which is subsequently

delisted, the total income at the REIT/PTF level is subject to tax prior to making its distribution to the

unit holder.

Tax exemption on interest income tightened

The Finance Bill has narrowed the ambit of certain categories of interest income which are exempt

from tax. Some of the exemptions that have been tightened are discussed below.

For example, currently, a company not resident in Malaysia is exempt from tax in respect of interest

received from securities issued by the Government or sukuk or debentures issued in Ringgit Malaysia,

other than convertible loan stock, approved or authorized by or lodged with the Securities Commission

(SC). This exemption is provided under Paragraph 33A, Schedule 6 of the ITA. Similarly, interest

income received by any person in respect of sukuk originating from Malaysia and issued in non-Ringgit

Malaysia, other than convertible loan stock and approved or authorized by or lodged with SC or

approved by the Labuan Financial Services Authority, is exempt from tax under Paragraph 33B,

Schedule 6 of the ITA. There is a proposal to introduce new subparagraphs to paragraphs 33A and

33B of Schedule 6, to narrow the ambit of this exemption such that the tax exemption will not be

applicable in the following scenarios:

Where interest is paid or credited to a company in the same group as defined in Section 2(4) of ITA

(Section 33A(2) of the ITA);

Where interest is paid or credited to a company in the same group as defined in Section 2(4) of ITA

or to a licensed bank, licensed Islamic bank or a development financial institution (Section 33B(2))



Further developments on IBA claims for buildings which are rented out

Arising from Budget 2016 and with effect from YA 2016, certain buildings that are deemed as

industrial buildings (IBs) will not qualify for industrial building allowance (IBA) if the building or part of

the building is let out. These IBs are as follows: licensed private hospitals; maternity homes; nursing

homes; buildings used for research; warehouses; buildings used for approved services projects; hotels;

airports; motor racing circuits; buildings used as living accommodation of employees of persons

carrying on a manufacturing, hotel or tourism business or an approved services project; and approved

schools or educational institutions (Schedule 3 Paragraph 16B of the ITA). The Inland Revenue Board

(IRB) had subsequently clarified that Paragraph 16B would not apply to existing buildings acquired

prior to YA 2016 but would only apply to new buildings acquired from YA 2016.

The Finance Bill further amends Paragraph 16B to extend the list of buildings that will not qualify for

IBA if rented out, to buildings used for industrial, technical or vocational training approved by the

Minister. Subject to further clarifications with the IRB, understand that similarly this extended list will

not apply to buildings acquired prior to YA 2016.

The Finance Bill also provides that if not more than one-tenth of the total floor area of the industrial

building is rented out, the whole building will qualify for IBA. If more than one-tenth of the total floor

area of the IB is rented out, the IBA claim will only be available on the floor area which is not rented

out.

Limitations of claims for deductions for companies with single-tier dividends widened

Paragraph 12B of Schedule 6 of the ITA currently states that any expenses incurred in relation to

single-tier dividends shall be disregarded for the purposes of ascertaining adjusted income. The

Finance Bill has proposed that the word expenses and adjusted income be replaced with the words

deductions and chargeable income respectively. This proposal effectively widens the ambit of the

sums that could potentially be disallowed (to include items such as approved donations, for example).



Tax administrative changes Highlights

Application for relief of a person with no CI

and with CI extended

Electronic submission of tax estimates

extended to other entities other than

companies

Fees for advance pricing arrangement

Penalty provisions introduced in the ITA to

ensure compliance with BEPS Action Item

13 on transfer pricing documentation,

Section 154(1)(c) and Mutual

Administrative Assistance Arrangement

(MAAA)

Application for relief of a person with no CI and with CI extended

Currently, Section 131 of the ITA only allows a person to apply for relief in respect of an error or

mistake in a tax return when such person has paid tax. The application must be made within five years

after the end of the YA in which the assessment was made. In recognition that errors or mistakes may

also arise in situations that do not give rise to a tax payable position (for example, when computing

unabsorbed capital allowances or losses), the Finance Bill has introduced Section 97A(5) to allow such

taxpayers to also apply for relief. In addition, the Bill introduces Section 97A(1A) to automatically

deem a notification of non-chargeability (NONC) to be made upon submission of tax returns by a

taxpayer in cases where there is no tax payable for a YA. Thus, such taxpayers no longer need to apply

for a NONC before an appeal may be made against the DGIRs prevailing practice or Public Ruling.

As indicated above, currently Section 131 of the ITA allows a person with CI and who has paid tax to

apply for relief in respect of an error or mistake in a tax return. A new Section 131A has been

proposed to allow a person to apply for relief where the tax paid is excessive due to reasons other than

in respect of an error or mistake, i.e.:



New proposed Section

131A

Reason for excessive payment of tax Time limit for appeal

Section 131A(1)(a) and

(b)

Any exemption, relief, remission, allowance

or deduction granted for that YA or any

other written law published in the Gazette,

or the approval is granted after the YA in

which the return is furnished

Within five (5) years after

the end of the year the

exemption, relief,

remission, allowance or

deduction is published in

the Gazette or the

approval is granted,

whichever is the later

Section 131A(1)(c) Where a deduction was not allowed in

respect of payment not due to be paid

under the withholding tax sections, on the

day the return is furnished by the taxpayer

Within one (1) year after

the end of the year the

payment is made

The above proposals apply where there is no chargeable income or where the assessment is excessive.

On receiving such applications for relief, the DGIR shall inquire into the matter and may give

repayment of tax where the appeal appears to be just and reasonable. An applicant who is aggrieved

by the DGIRs decision may, within six (6) months after being informed of such decision, make a

written request to the DGIR to forward the appeal to the Special Commissioners of Income Tax (SCIT).

The DGIR shall forward the appeal to the SCIT within three (3) months after receiving such request.

The above proposed amendments will come into operation on 1 January 2017.

Electronic submission of tax estimates extended to entities other than companies

The Finance Bill has proposed that the electronic submission of estimates and revised estimates of tax

payable, which is to be effective from YA 2018 for companies, shall also extend to limited liability

partnerships, trust bodies and co-operative societies. This requirement is effective from YA 2019

(Section 107C(7A) of the ITA).

Fees for advance pricing arrangement

It is proposed that Section 154(1)(ec) of the ITA be amended to include the words arrangement

made under Section 138C so that the Minister shall be empowered to prescribe fees for Advance

Pricing Arrangements. Currently, the Minister is only empowered to prescribe fees for Advance

Rulings. This provision is effective upon the coming into operation of the Finance Act.



Penalty provisions introduced in the ITA to ensure compliance with BEPS Action Item 13 on transfer pricing documentation, rules made under Section 154(1)(c) and Mutual Administrative Assistance Arrangement (MAAA)

Todays international tax conversations are focused on the impact of the Organisation for Economic

Co-operation and Development (OECD)s Base erosion and profit shifting (BEPS) initiative on cross-

border supply chains. The OECD has finalized 15 Action Plans with recommendations for changes in

international tax rules, to remedy perceived BEPS issues. In order to increase tax transparency by

providing tax authorities with a line of sight into a Groups entire global footprint, BEPS Action item

13 prescribes a three-tiered approach to transfer pricing documentation, which consists of the

following:

i) Master file containing standardised information relevant for all MNE group members;

ii) Local file referring specifically to material transactions of the local taxpayer; and

iii) Country by Country Report (CbCR) containing certain information relating to the global

allocation of the Multinational Corporation (MNE)s income and taxes paid together with certain

indicators of the locations of economic activities within the MNE group. [Based on the OECD

Guidance, CbCR applies to any MNE with annual consolidated group revenue equal to or above

750m (estimated at RM3.48b on 7 October 2016).]

The CbCR report will be filed annually with the ultimate parents home tax authority and the reports

are to be shared via the treaty network by the ultimate parents home tax authority. The CbCR report

will automatically be shared with foreign tax administrators under the Multilateral Competent

Authority Agreement (MCAA), which Malaysia signed on 27 January 2016.

In a consultation session with the Chartered Tax Institute of Malaysia on 24 March 2016, the IRB

announced that they are planning to introduce the CbCR requirement and that the current local

transfer pricing documentation requirements will be updated to include the Master File-Local File

concepts. The CbC reporting requirement and the new transfer pricing documentation requirements

are expected to be effective in Malaysia from 1 January 2017, with the first filing of the CbC reports

by 31 December 2018. The practice in relation to submission of the transfer pricing documentation

will remain unchanged, i.e. such documentation will need to be provided within a specific period of

time (usually 30 days) upon request by the IRB.

In line with the IRBs intention to introduce CbCR in Malaysia and other exchange-of-information

developments, the Finance Bill proposes new penalty provisions under Sections 112A, 113A and

119B of the ITA in accordance with rules made under Paragraph 154(1)(c) of the ITA which involves

simultaneous tax examination, automatic exchange of information or tax administration under

Section 132B of the ITA between the Malaysian Government and any Government of any territory

outside of Malaysia where the CbCR is not prepared in line with the OECDs recommendations. A

summary of the new penalty provisions is as follows:

Section 112A of the ITA Failure to furnish CbCR. The burden of proof lies with the accused

person to show that he has furnished a country-by-country-report;



Section 113A of the ITA Any person, on behalf of himself or another person, who makes an

incorrect return, or makes an information return or report omitting the information required and

giving any incorrect information required in accordance with Section 154(1)(c) that implements

or facilitates the operation or arrangement on double tax agreements, tax information exchange

agreements and mutual administrative arrangements. A person will not be guilty of an offence

under Section 113A if the court is satisfied that the failure was made in good faith.

Section 119B of the ITA - Failure to comply with any rules made under Paragraph 154(1)(c) of

the ITA on mutual administrative assistance. The burden of proof lies with the accused person.

Upon conviction under Sections 112A, 113A or 119B of the ITA, the person (or persons filing on

behalf of himself or another person under Section 113A of the ITA) shall be liable to a fine of

between RM20,000 and RM100,000 or imprisonment for a maximum of six (6) months, or both. The

court may also make a further order to the person to comply with the rules within 30 days or any

other period as the court deems fit.

It is expected that the rules and guidelines on the three-tiered approach to transfer pricing

documentation will be released in the coming months.



Goods and Services

Tax (GST)

The GST announcements in the Budget 2017 are mainly intended to streamline certain provisions under

the GST legislation.

Warehousing Scheme

Currently, the Warehousing Scheme only applies to imported goods deposited into the warehouse.

It is proposed that the scope of the Scheme be broadened to include all goods deposited into a

qualifying warehouse. The proposal will benefit goods from a Principal Customs Area (PCA)

deposited into the warehouse and align the GST treatment of goods imported vis--vis goods supplied

from a PCA.

Highlights

Warehousing Scheme

Free Zones

Designated Area

Installation, configuration and integration of a device for providing information

Late payment penalty

Other amendments



Free Zones

The relevant GST treatment with respect to Free Zones is summarized below:

s and Free Commercial Zones will together be known as Free Zones.

s (except for imported goods that

would be used or consumed in Free Zones, other than goods used for the purpose of commercial,

manufacturing or retail trade activities)

No GST would be chargeable on any taxable supply of goods made within or between Free Zones;

a Free Zone to another Free

Zone via the PCA or, from a Free Zone to the PCA would amount to an importation into Malaysia

and GST would be payable upon importation. However, subject to an Order made by the Minister

of Finance, GST will be suspended on any goods removed from a Free Zone to another Free Zone

via the PCA, a Designated Area or a Warehouse under the Warehousing Scheme;

when the

principal place of business is in a Free Zone.

Designated Area

Due to the changes to Free Zones and the Warehousing Scheme (see previous), the proposed GST

treatment in a Designated Area will be as follows:

GST is chargeable on the removal of all goods (including goods under any lease agreement):

From a Designated Area to another Designated Area through Malaysia; or

From a Designated Area to Malaysia

However, subject to an Order made by the Minister of Finance, payment of tax will be suspended

on goods removed from a Designated Area through Malaysia to:

Another Designated Area;

A Free Zone; or

A warehouse under the Warehousing Scheme



Installation, configuration and integration of a device for providing information

The Finance Bill proposes that the Director General of Customs can require any prescribed registered

person to provide information on all supplies made and payments received by using a device as

prescribed by the Minister of Finance.

Access to the information on the device shall not be given, published or disclosed to any other person,

unless the disclosure is required or authorised:

Under the GSTA

By any court; or

For the performance of duties or exercise of power under the GSTA

Late payment penalty

Under the Finance Bill, the late payment penalty under section 41(8) of the GSTA will be revised as

follows:

(i) For the first 30 days: penalty rate will be increased from 5% to 10%;

(ii) For the second 30 days: the additional penalty rate will be increased from 10% to 15%;

(iii) For the third 30 days: the additional penalty rate will be increased from 10% to 15%;

(iv) The maximum cap of 25% penalty rate will be removed.

(v) The penalty will apply to the tax amount which remains unpaid.

The above late payment penalty will also be applicable to a non-taxable person who is required to

account for GST by furnishing a return and paying GST.

Others amendments

In addition to the above, the Finance Bill also proposes the following amendments to the GSTA:

(a) The time of supply for imported services

The present law provides that time of supply for imported services is the earlier of the date of

payment or the date when the invoice is issued by the supplier. This provision has been amended to

prescribe time of supply as the earlier of the date of payment or the date when the invoice is

received from the supplier.

(b) Computation of GST registration threshold

For calculating the value of supplies for the purpose of the GST registration threshold, the supply

of capital assets of the business is required to be excluded. An amendment has been proposed to

state that the capital assets which are supplied due to cessation of business are required to be



excluded. While there is some ambiguity requiring clarification, subject to confirmation from the

authorities, this amendment appears to be in addition to, rather than a replacement of, the current

wording which excludes the supply of capital assets in the course or furtherance of business.

Further, another sub-clause has been added to provide that supplies made within or between the

Free Zones are required to be excluded, subject to exceptions published in an Order.

(c) Issuance of tax invoice by non-taxable person

A sub-section relating to issuance of tax invoice has been proposed to be amended. For a

registered person, the amendment implies that he should not issue any invoice containing an

amount which purports to be tax for a non-taxable supply or zero-rated supply. Further, for a non-

registered person (with some specific exceptions), the amendment implies that he should neither

issue any invoice showing an amount which purports to be a tax nor issue an invoice which

purports to be a tax invoice.

It may be noted that the explanatory notes to the Finance Bill suggest that a registered person

should not issue a tax invoice for a non-taxable or zero-rated supply. This, however, is not as per

the amendments proposed in the Act.

(d) GST refund in relation to GST relief

In the event a person is granted GST relief prescribed under the Goods and Services Tax (Relief)

Order and has paid the GST to which the relief relates, such person shall be entitled to a refund if

an approval is granted by the Minister of Finance.

Such person should make the claim within six (6) years from the time the person is entitled for the

refund.

(e) GST treatment of supply of land to government for certain purpose

Subject to conditions, any supply of land by a developer or owner of the land to the Federal

Government, State Government, local authority or any other person shall not be treated as a

supply of goods nor supply of services.



Other changes

Definition of a Labuan business activity and a Labuan non-trading activity narrowed

Currently the definition of a Labuan business activity provides that a Labuan entity may hold

investments in a domestic company, with residents, in Malaysian currency. The Finance Bill proposes

that the word investments in a domestic company be replaced with shares.

Labuan non-trading activity (income from which, if earned by a Labuan entity carrying on a Labuan

business activity, is not subject to tax) is currently defined as an activity relating to the holding of

investments in securities, stock, shares, loans, deposits or any other properties by a Labuan entity on

its own behalf. It is proposed that the definition be narrowed to an activity relating to the holding

of investments in securities, stock, shares, loans, deposits or any other properties situated in Labuan

by a Labuan entity on its own behalf, i.e. the words situated in Labuan are added to the definition.

These proposals come into effect on the date of the coming into operation of the Act.

Highlights

Definition of a Labuan business activity

and Labuan non-trading activity narrowed

Amendments to RPGT law to take into

account input tax adjustments on relevant

expenditure and to restrict the no-gain-no-

loss provision on gifts to only donors who

are citizens



Amendments to RPGT law to take into account input tax adjustments on relevant expenditure and to restrict the no-gain-no-loss provision on gifts to only donors who are citizens

The proposed Real Property Gains Tax (RPGT) changes seek to streamline the RPGT treatment with

the changes to the income tax legislation introduced last year, with respect to adjustments under the

GSTA. Where there is an adjustment in the amount of input tax claimable under the GSTA, relating to

an expenditure incurred on the acquisition or disposal of an asset, such adjustments will be taken into

account / adjusted accordingly for RPGT purposes. The proposed changes will be effective

retrospectively from YA 2015 (Schedule 2 Paragraph 6(1A) and 7(2)).

The no-gain-no-loss provisions on disposal by way of gift (where the donor and recipient are husband

and wife, parent and child, or grandparent and grandchild) is currently applicable to citizens,

permanent residents and non-citizens. The proposed change seeks to restrict the no-gain-no-loss

provisions only to a situation where the donor is a citizen of Malaysia. This proposed change will be

effective on 1 January 2017 (Schedule 2 Paragraphs 12(2) of the RPGTA).



EY Budget 2017 and Tax Conference

How will the Malaysian Budget 2017 affect your company and business? Are there new incentives that

your organization can take advantage of? Are there new taxes or regulations that you need to be mindful

of? What are the latest developments in the tax arena that will impact how you manage tax risks?

EY's senior tax professionals are ready to help answer these questions for you. They can explain and

guide you through the salient issues of the Malaysian Budget 2017 and share practical insights on the

latest tax developments.

Participants at our Budget and Tax Conferences will be provided a copy of the Budget 2017

commentary, as well as opportunities for questions and answers.

Mark these dates down for an insightful session on the Malaysian Budget 2017 and more!

Kuala Lumpur Ipoh Penang

Date: 27 October 2016 1 November 2016 10 November 2016

Venue: Connexion@Nexus (Bangsar

South)

Weil Hotel G Hotel Gurney

Time: 9:00 a.m. 5:15 p.m. 9:00 a.m. 5:00 p.m. 8:30 a.m. 5:30 p.m

Contact: Valerie Joshua / Ramlah

Abd Rahman

Patricia Lau / Chang Wai

Chien

Lim Shu Bei / Rachel Lau

Tel: 03-74958310 / 58466 Tel: 05-241 1255 Tel: 04-2641878

Johor Bahru Malacca Kuantan Date: 1 November 2016 2 November 2016 3 November 2016

Venue: Renaissance Hotel, Johor

Bahru

Hatten Hotel, Melaka Zenith Hotel, Kuantan

Time: 8:30 a.m. 5:30 p.m. 8:30 a.m. 5:30 p.m TBA

Contact: Roslina Md Salleh / Lili

Nazirah Abdul Hamid

Chan Lay Khim / Michelle

Tan Pau Choo

Juliana Hanim / Eddie Eries

Tel: 07-3341740 Tel: 06-2882399 Tel: 09-5157500

Kuching Sibu Miri Bintulu Date: 1 November 2016 2 November 2016 4 November 2016 3 November 2016 Venue: Hilton, Kuching Tanahmas Hotel,

Sibu Imperial Hotel, Miri Promenade Hotel,

Bintulu Time: TBA 8:30 a.m. 5:00

p.m. 8:30 a.m. 5:00 p.m.

8:30 a.m. 5:00 p.m.

Contact: Irene Foo / Anne Chong

Ting Su Ding Belinda Ting / Ku Xiu Ting

Fion Wong / Pao Nguk Eng / Lim Yan Ping

Tel: 082-243233 Tel: 084-332134 Tel: 085-423881 Tel: 086-336111



Kota Kinabalu Tawau Sandakan Date: 2 November 2016 3 November 2016 4 November 2016

Venue: Le Meridien Kota Kinabalu Promenade Hotel, Tawau Four Points By Sheraton,

Sandakan

Time: TBA 8:30 a.m. 1:00 p.m 8:30 a.m. 1:00 p.m.

Contact: Dora Wong /Jennifer Vun

Chai Siew Moi / Alison

Chung

Stephanie Au

Tel: 088-235733 Tel: 089-774233 Tel: 089-217266

In addition, Japanese seminars will be held as follows:

Kuala Lumpur Penang Johor Bahru Date: 2 November 2016 3 November 2016 4 November 2016

Venue: EY office, Menara Milenium,

Kuala Lumpur

EY office, MWE Plaza,

Georgetown

EY office, Menara Pelangi,

Johor Bahru

Time: 9:30 p.m. 12:30p.m. 2:30 p.m. 4:30p.m. 2:30 p.m. 4:30p.m.

Contact: Yoko Yamada Tel: 03-74958204

Yoko Yamada / Lim Shu Bei Tel: 03-74958204 / 04-2641878

Yoko Yamada / Set Ying Ting Tel: 03-74958204 / 07-3341740



Important dates

27 October 2016 EY Budget 2017 and Tax Conference

(Kuala Lumpur)

31 October 2016 6th month revision of tax estimates for companies with April year-end

9th month revision of tax estimates for companies with January year-end

Statutory deadline for filing of 2016 tax returns for companies with March year-end

15 November 2016 Due date for monthly instalments

30 November 2016 6th month revision of tax estimates for companies with May year-end

9th month revision of tax estimates for companies with February year-end

Statutory deadline for filing of 2016 tax returns for companies with April year-end

For income tax enquiries:

Dr. Lydia Shalani Thiagarajah

Email: [email protected]

For GST enquiries:

Dave Ananth


Tel: +603 7495 8422

For subscription enquiries:

Ramlah@ Rosliza Abdul Rahman


Tel: +603 7495 8466

Publisher:

Ernst & Young Tax Consultants Sdn. Bhd.

Level 23A Menara Milenium

Jalan Damanlela, Pusat Bandar Damansara

50490 Kuala Lumpur

Tel: +603 7495 8000

Fax: +603 2095 7043

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Documents

Highlights of Budget 2017 Part II - Ernst & YoungFILE/EY-highlights-of-budget-2017-part-ii.pdf · Tax alert Highlights of Budget 2017 (Part II) 26 October 2016 Volume 19, Issue 23