Intensive 2-day Virtual Training Course
Transfer Pricing (TP)
Documentation DIY Course
Reserve your seats!!
00Hours00Minutes00Seconds
Are you TaxPOD Subscriber or YYC Client ?
Do you need to claim HRDC?
DATE
25 & 26 September 2024 (Wed & Thu)
TIME
9.00am to 5.30pm
TRAINERS
Zen Chow, YYC Tax Practice Leader
Jeremy Tan, YYC Transfer Pricing Specialist
PLATFORM
ZOOM
THIS COURSE IS HRDC CLAIMABLE
Subject to Terms and Condition apply*
Learn how to prepare Limited Scope TP Doc
ON YOUR OWN
// THE RIGHT MAP //
- Understanding the TP principles
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Case Studies, Examples and Q&As to help you to apply the TP principles
// THE RIGHT GUIDES //
- Comprehensive Guidance to prepare a Limited Scope TP Documentation
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Step-by-step illustrations on how to prepare each section of the Limited Scope TP Documentation
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Interactive Engagement with the trainers
// THE RIGHT TOOLS//
- [FREE] Limited TP Doc Template (word file)
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[FREE] Limited TP Doc Sample Reports
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[FREE] More than 300 slides of slides content
- [FREE] BONUS 60 minutes Post Live Q&A session on 14 October 2024 @ 2.00pm
TOTAL: RM 3,388
ONLY RM 2,688
AM I REQUIRED TO PREPARE?
Are you required to prepare 【Transfer Pricing Documentation】？
The concept of Transfer Pricing was first introduced into the Malaysian tax legislation effective 1 January 2009 with the enactment of the Section 140A of the Income Tax Act 1967, as well as the gazettement of the Income Tax (Transfer Pricing) Rules 2012 ("Malaysian Transfer Pricing Rules"). It governs the standard and rules based on the arm's length principle to be applied on transactions between associated persons.
In other words, taxpayers or any company that carried out any related-party transactions are required to prepare a【FULL】 Transfer Pricing Documentation if they meet ANY of the following requirements：
- Annual revenue exceeds RM25 million and total amount of controlled transactions exceeds RM15 million; or
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Provision of financial assistance exceeding RM50 million (does not apply to financial institutions)
However, there are EXCEPTIONS to【FULL】Transfer Pricing Documentation:
- Total annual revenue is < RM 25 million; OR
- Total value of related party transactions is < RM 15 million
YOU MAY OPT TO PREPARE【LIMITED】TPD!
TRYING TO UNDERSTAND WHAT IS【TRANSFER PRICING】?
What is Transfer Pricing?
Business transactions are divided into 【Related-party Transactions】 and 【Independent Transactions】.
【Related-party Transactions】occur when transactions are being carried out between two parties who are joined by a pre-existing business relationship or common interest, including transactions between the parent company and its subsidiaries.
Whereas【Independent Transactions】refers to the general transaction with the market where transactions between two entities that have no connection or affiliation with each other. These transactions are entered into by the parties based solely on their commercial interests and are not influenced by any existing relationship between the entities.
In short, transfer pricing is used to determine costs when related parties were required to transact between one and another.
Transfer price should not differ much from the market price. 🙅♂️ Thus, you are obliged to prove that price gap does not exist when transactions were being made between related party which also known as the Arm's Length Principle.
How well do you know about Arm's Length?
The Arm’s Length Principle
is a preferred basis to determine transfer price of a transaction between associated person. Likewise, it refers to price which would have been determined IF the transactions were carried out between independent entities.
How should you prove it?
In order to prove that the transfer price is within the arm's length price, it is necessary for you to prepare【Transfer Pricing Documentation】for authorities' review purpose to ensure fairness and accuracy of transfer pricing among related entities!!
Our 2-day Training
ENABLES You To Prepare Your Own Limited Scope TP Doc
When Should TP Doc Be Made Available To The IRB?
TP Documentation was required to be submitted within【30 days】upon request by the IRB for TP audit cases which have commenced before 1 January 2021.
HOWEVER,
TP Documentation is now required to be submitted within【14 days】upon request by the IRB for TP audit cases which have commenced on or after 1 January 2021
How to Prepare a Limited Transfer Pricing Documentation?
2 Options as follows：
1. Engage with a Professional Tax Agent
Transfer Pricing service offerings in the market easily cost more than RM10k due to the difficulties and complexity of documentation. Although it may be time-saving in the short-term, but it might not be cost effective in the long-run
2. Learn from the Professionals and Do-It-Yourself
This option allows you to have a better understanding on the overall process of the Transfer Pricing documentation which give rise in a cost-effective way in the long-term as you no longer need to depend on the tax agent.
Note: Penalty for failure to furnish TP Doc!
The Budget 2021 announcements gazetted under the Finance Act 2020 have tightened the Transfer Pricing compliance requirements in Malaysia with effect from 1 January 2021.
Section 113B ：
Where a company fails to furnish TP Documentation upon request by the IRB, the taxpayer may be subject to a penalty of between RM20,000 and RM100,000（w.e.f. 1 January 2021）
The course will cover the following:
- Introduction to TP & Overview of TP in Malaysia
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Who & When Should Prepare TP Documentation
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Duty & Importance of TP Documentation
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TP Adjustments and Penalties
- Limited TP Documentation:
- (i) Business Overview (ii) Controlled Transactions (iii) Pricing Policies
- Overview of Five (5) TP Methodologies
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Overview of Benchmarking Study
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TP Considerations for Specific Transactions
(i) Intragroup Services (ii) Introgroup Financing
- [DIY SESSION] Prepare Your Own Limited Scope TP Documentation
Meet Our Trainers
Zen Chow
YYC Tax Practice Leader
YYC Tax Practice Leader
BBusCom (Monash), CPA (Aust.), C.A. (M), FCTIM, CTP
Jeremy Tan
YYC Tax Associate Director
BA. (Hons) Business & Management
- 14 years of experience in one of the Big 4 accounting firms and mid-tier accounting firms
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Provides corporate tax planning and advisory services for local SMEs as well as cross-border clients dealing with international taxation laws & regulations.
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Rich experience in manages a wide range of transfer pricing engagements
- A qualified consultant and certified HRD Corp trainer
YYC - Who Are We and Why You Should Trust Us?
- Expertise and Experience - Our firm, YYC, has a 50-year history of helping clients take their businesses to newer heights. Our tax advisors have over 75 years of combined experience in the industry and have been involved in tax compliance and tax advisory work in various fields.
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Proven Track Record - Our team is led by tax professionals who are bilingual (Mandarin and English) and regularly give tax-related talks and seminars that have benefitted over 12,000 individuals to date.
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Passion To Help - After coming across so many frustrated business owners who had been paying loads of unnecessary tax for YEARS until they met us, we are very committed to tackling tax problems, hence that was why we developed this course to help companies impacted by the tightened Transfer Pricing compliance requirements.
Established in 1974, YYC is an Asian-grown accounting and advisory firm. Backed by our commitment to empower entrepreneurial success, YYC Group has served 20,000 clients across Malaysia and Singapore. Through our YYC Business School, we have also trained more than 130,000 participants with more than 5,000 workshops conducted to date.
Further Enquiries?
Contact us at +60108247309 (WhatsApp HERE)
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