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DRAFTING & MANAGING CONTRACTS TO AVOID ADVERSE TAX IMPLICATIONS - a special focus on contracts compliant with the requirements of the new Malaysian GST legislation

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With the introduction of the new Goods & Services Tax in Malaysia, Thomson Reuters ALB is holding a full-day conference in Kuala Lumpur on September 30. This intensive, timely forum is uniquely aimed at In-house Legal Counsel and Risk Professionals from corporations in Malaysia. It is tailored specifically to address how the new tax impacts Legal & Risk Departments and effective techniques for handling contracts during/after the transition to GST.

Topics include:

  • Overview of the Malaysian Economic Landscape 2015- policies and strategies to take Malaysia forward.
  • Principles of GST and how GST relates to legal counsel, including transitional issues and Indirect Tax Governance.
  • A Singapore perspective- a comparative analysis of how Singapore GST law deals with issues related to effective contract management and key differences in the Malaysian legislation.
  • Special Cases Insights of Malaysia's GST Act 2014.
  • Effective GST contract management to avoid adverse tax implications

This is the ONLY event addressing the impact of the introduction of GST on in-house legal departments and contract management in Malaysia.

If you are responsible for the legal and/or risk functions in your organization and you deal with sales, supplier or goods contracts, this must-attend forum will provide you with practical tips on effectively managing contracts to avoid adverse implications to your business.

With world-renowned tax experts, lawyers and globally-recognised academics in the speaker line-up, this is the key event you will need to join to understand how GST affects your business from a legal and contractual perspective, and will allow you to move easily and trouble-free into a post-implementation period.

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9:00 - Conference Registration

 

9:30 - Overview of the Malaysian Economic Landscape 2015, and policies and strategies to take Malaysia forward.

Presented byQuah Boon Huat - Senior Economist, Malaysian Rating Corporation Berhad (MARC) and previous economist, OECD Development Centre

 

10:15 - Principles of GST and how it relates to legal counsel. Including transitional issues and Indirect Tax Governance.

Presented byNg Sue Lynn- Executive Director, Indirect Tax, KPMG 

Topics include

  • How GST operates, registration, GST returns, payments and refunds
  • Non-reviewable contracts
  • Contracts and supplies spanning 1 April 2015
  • Good Indirect Tax Governance – the foundation for managing controversies
  • How the business can protect itself from becoming involved in controversies and/or mitigate the impact if it does become involved
  • How you can mitigate the financial and reputational risk
  • What good governance looks like in the context of indirect tax

 

 

 

 

11:15 - Coffee break

11:45 - Special Cases Insights of Malaysia's GST Act 2014

Presented byProfessor Jeyapalan Kasipillai- Deputy Head of School (Education), School of Business, Monash University Malaysia

Topics include:

  • Cross-over from sales tax and services tax to GST - Transitional rules
  • Preparatory measures - registration and establishing taxable turnover
  • Processes and procedures for implementation of GST
  • Special cases under sections 64 to 75 (Part VIII) of GST Act
  • An overview of supplies spanning a change in rate or description
  • Changes in the rate of tax, description of the nature of supply or when a supply spanning the change is in progress.  

12:45 - Lunch

 

1:45 - GST Implications When Drafting and Managing Contracts

Co-presented byJeremiah R. Gurusamy, Partner Arianti Dipendra JeremiahAdvocates & Solicitors and Thenesh Kannaa, Managing

Partner, Thenesh, Renga & Associates (a.k.a. TraTax Malaysia)

 

Topics include:

  • Understanding GST implications for contracts in Malaysia- the focus on key contract terms
  • Who should bear the tax - the Seller or the Buyer?
  • Special clauses in contracts to shift the tax liability
  • Hedging for the risk of change in tax rate
  • Transitional rules for prevailing non-reviewable contracts
  • Tenders and auctions – who should bear the tax?
  • Group registration - the need for indirect tax agreements
  • Special clauses in business takeover agreements
  • Clauses where the price is computed based on turnover (for example, royalty and franchise fee)
  • Specific issues - court awards, warranties, damages etc.
  • The GST-advantage of incorporating termination clauses in business contracts
  • GST implications of disbursements and reimbursements

3:15 - Coffee break

 

3:45 - A Singapore perspective- a comparative analysis of how Singapore GST law deals with issues related to effective contract

management and key differences in the Malaysian legislation.

Presented byShanker Iyer FCA OBE- Chairman, International Fiscal Association (Singapore Branch) and the Singapore

International Chamber of Commerce's (SICC) Tax Policy Committee. Immediate past president of SICC. Founder & Chairman, Iyer

Practice Advisers
 Singapore and Hong Kong

 

4:45 - Close 

 

*ALB reserves the right to amend the agenda at any time without notice

 

 For more information, or to find out how you can become a speaker, please contact lucinda.a.maguire@thomsonreuters.com

 

 

 

 

 

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Conference Speaker Faculty

                                                                                              

Jeyapalan Kasipillai, Professor, Deputy Head of School and Chair of Malaysian Business, Monash University Malaysia

Professor Kasipillai completed his doctoral thesis at the University of New England, Australia and masters degree at the University of Stirling, Scotland. He is a fellow member of the following professional bodies namely CPA (Australia) (FCPA); Malaysian Association of the Institute of Secretaries and Administrators (FCIS) and the Chartered Tax Institute of Malaysia (CTIM). He is a Council member of CTIM and chairs its examination committee.

After graduating from University of Malaya in 1974, he joined the New Straits Times Group as a Journalist and later served the Inland Revenue Board for 15 years. He held the post of Assistant Director (Tax Investigations), prior to joining University Utara Malaysia as a lecturer in 1991. Amongst others, he serves as a member of the Editorial Committees of Tax Guardian, e-Journal of Tax Research, Australia and was appointed by Tax Notes International, USA in 2004 to be its official correspondent for Malaysia.

In April 2010, Jeyapalan was appointed as a Professorial Visiting Fellow by UNSW, Sydney. He has been conferred on numerous occasions the Monash Pro-Vice Chancellor Awards for excellence in research. He has authored over 14 books and his latest books published in 2013 are “A Guide to Malaysian Taxation” and “A Guide to Advanced Malaysian Taxation” Second Editions published by McGraw-Hill. He was also the editor Tax Avoidance, Evasion and Planning in Malaysia (2012). 

Shanker Iyer, FCA, OBE, Founder & Chairman, Iyer Practice Advisers

Shanker Iyer is the Founder and Chairman of Iyer Practice, a specialist advisory firm, with offices in Singapore and Hong Kong.

He qualified as a Chartered Accountant in London and was a Partner of a leading accounting firm in the UK for over 10 years. Besides his own practice, Shanker is actively involved in the Singapore business community. He is serving his fifth term as the Chairman of the International Fiscal Association, Singapore Branch, and is the immediate Past Chairman of the Singapore International Chamber of Commerce. He is also Chairman of the SICC Tax Policy Committee.

Prior to these appointments, he served as President of both the British Chamber of Commerce and European Chamber of Commerce in Singapore. With extensive experience spanning almost four decades, Shanker has built an expertise in advising privately-held businesses and high net-worth individuals on a wide range of international tax and trust matters.

The Iyer Practice also advises on HR and Immigration matters and one of its entities is licensed as an Employment Agency by the Ministry of Manpower

Ng Sue Lynn, Executive Director, Indirect Tax, KPMG

Sue joined KPMG Kuala Lumpur in 2005 and has experience in both corporate tax and goods and service tax. She advises on Malaysian tax issues and has assisted numerous leading overseas and locally headquartered multinationals.

Sue is a member of the KPMG GST Strategic team. She has also undertaken a secondment in KPMG ASPAC in Singapore from 2011 to 2012. For corporate tax, her experience includes Malaysian corporate tax advisory and tax planning work in mergers and acquisitions and cross-border transactions (inbound and outbound). She also assisted in advisory engagements on structured financing transactions, which include the review of financial projections and tax assumptions used.

For goods and services tax, Sue is currently assisting clients in various industries in their GST implementation projects. Sue has conducted workshops for clients and internal staff on tax topics such as the mechanics of GST, mergers and acquisitions, withholding tax and stamp duty.

She has also assisted in writing newspaper articles on current tax issues as well as chapters of the annual publication, “Taxation in Malaysia” by KPMG.

Quah Boon Huat, Senior Economist, Malaysian Rating Corporation Berhad (MARC)

Boon Huat possesses well-diversified experience in the world of banking and finance, having taken on various responsibilities in the portfolios of corporate banking, foreign exchange sales and institutional equities sales.

His subsequent research stint at the Malaysian Institute of Economic Research led him to the OECD Development Centre in Paris where he was involved in generating policy recommendations to encourage stable, sustainable and equitable economic growth and development in Southeast Asia.

Upon fulfilling his duties, Boon Huat then returned to Malaysia for his present appointment as Senior Economist with Malaysian Rating Corporation Berhad. Boon Huat holds degrees in economics from universities in Malaysia and Japan.

Jeremiah Ravindran Gurusamy

Jeremiah Ravindran Gurusamy, Partner, Arianti Dipendra Jeremiah, Advocates & Solicitors

Jeremiah comes with a wealth of experience having worked in the corporate sector since 1997 prior to entering active legal practice. Prior to being admitted as an Advocate and Solicitor, he was attached to the legal documentation unit of the corporate banking arm of one of the leading banking groups in Malaysia. Jeremiah started his legal career in 1999 with a large Kuala Lumpur based law firm.

Over the years, Jeremiah has acted for a wide range of clients from various industries and has extensive experience in corporate banking, project financing, corporate and commercial matters, joint ventures, mergers & acquisitions, capital markets, trust and estate planning, private mutual funds, employment law, anti-trust and competition matters and personal data protection laws. He is a founding partner of ADJ - Arianti Dipendra Jeremiah, a corporate boutique firm. 

Jeremiah is an active member of the Bar Council and currently sits on the Arbitration & Alternative Dispute Resolution Committee and the Professional Standards and Development Committee of the Bar Council. He also serves at the Honorary Secretary of the Kuala Lumpur Bar Committee. Jeremiah regularly delivers talks to the Malaysian Bar, KL Bar, and to the Corporate Sector and is a guest lecturer to several private colleges and public universities.

Jeremiah was called to the Malaysian Bar in 1999. He holds a LL.B (Hons) Degree from the University of London, a Certificate in Legal Practice (C.L.P.) from the Legal Profession Qualifying Board of Malaysia and a Masters of Law (LL.M) from the University of Malaya. He is also a certified panel Mediator of the Malaysian Mediation Centre of the Bar Council.

Thenesh Kannaa

Thenesh Kannaa, Managing Partner, Thenesh, Renga & Associates  (a.k.a. TraTax Malaysia)

Having spent the early years of his career in a legal firm, Thenesh Kannaa approaches tax from both the accounting and the legal perspectives. His key areas of practice are incentive applications, cross-border tax planning, corporate restructuring, business advisory and Goods and Services Tax (GST). Thenesh is a licensed income tax agent. He is a frequent speaker at events organised by professional accounting bodies, Kuala Lumpur state bar committee, statutory bodies and private institutions.

He is also a visiting lecturer at Brunei Institute of CPA and is adjunct to a university ranked within the top 100 in the world. He is active in reflecting his views by publishing articles on various local and international accounting newsletters as well as the mainstream media. He is also active in making submissions to the tax authorities, in relation to income tax as well as GST.

Thenesh is a member of the Chartered Tax Institute of Malaysia's Editorial Committee and the Technical Committee for Indirect Taxes. Thenesh has been trained by Royal Malaysian Customs on GST. He has hands-on experience in preparing Malaysian companies for GST compliance and has spent more than 100 hours conducting in-house GST courses for Malaysian companies from diverse industries and diverse sizes. He is co-author of Malaysia Master GST Guide (2014), as well as other books on direct taxes.

 

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For more information on this event, to find out how to attend or to become a speaker, please contact colin.carter@thomsonreuters.com or call +65 6318 4746.

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Book now and save up to US$150! Register before the 29th August to reserve a delegate pass at our early booking rates!

  • In House Legal, tax or finance teams - discounted rate US$295 per person (full rate US$395)
  • Law Firms / Consultants / Service Providers - discounted rate US$445 per person (full rate US$595)

To register for the event, or for more information on this conference, please contact colin.carter@thomsonreuters.com

 

 

 

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