1. NAME OF COURSE  / MODULE ADVANCED TAXATION

 

2. COURSE CODE MAE3023
3. NAME(S) OF ACADEMIC STAFF  
4. RATIONALE FOR THE INCLUSION OF THE COURSE/MODULE IN THE PROGRAMME Corporate tax is a major income to the government.  Corporations must declare and calculate their own tax liability under self-assessment system. Tax accountants must have a solid understanding of Malaysian taxation system, rules and various tax provisions to enable management of companies to manage this cost effectively and efficiently.  Therefore, students should be given an early exposure to various fundamental concepts, rules taxation concepts, tax statutes, public ruling, appropriate income tax calculations and advance knowledge in taxation to equip them with knowledge and skills before they enter the industry in future.
5. SEMESTER & YEAR OFFERED Semester 5 / Year 3
6. TOTAL STUDENT LEARNING TIME (SLT) Face to face:

L T P O
28 22 5

L=lecture ; T=Tutorial; P=Practical; O=Others (Exam)

Total Guided and Independent Learning:

120
7. CREDIT VALUE 120/40= 3.00  (3 credit); 2+2
8. PREREQUISITE (IF ANY) MAE2023 Principles of Malaysian Taxation
9. OBJECTIVES 1.     To explain concepts of corporate taxation particularly in computing tax liabilities and obligations of companies.

2.     To introduce the relevant section under Income Tax Act 1967 as a guideline in computing chargeable business income.

3.     To explain how companies can take advantage of all reliefs, exemptions and incentives provided in the tax legislation.

4.     To equip students on advance taxation knowledge.

10. LEARNING OUTCOMES At the end of the course, students will be able to:

1. Understand tax systems, computations and company taxation in Malaysia. (LO1-C3)

2. Compute tax payable for company. (LO2,-P3, LO7-LL2, A2)

3. Apply concepts of taxation for company. (LO2-P3)

4. Understand other advance tax knowledge. (LO1-C3)

11. TRANSFERABLE SKILLS Student should be able to develop a good understanding on taxation for company in Malaysia, appropriate income tax calculations skills through a process of lectures and tutorials.
12. TEACHING-LEARNING AND ASSESSMENT STRATEGY Teaching-learning strategy:

  • The course will be taught through a combination of formal lectures, exercise, group work, using authentic materials, informal activities and various textbooks. Collaborative teamwork will be fosters throughout the course. The use of examination and internal reporting assessment will assess the student’s ability to apply theoretical concept in context.

Assessment strategy:

  • Formative
  • Summative
13. SYNOPSIS This course aims to give a thorough understanding of the advanced aspects of Malaysian taxation. Most of the topics in this course focus on corporate taxpayers. Other topics include RPGT, estates and GST
14. MODE OF DELIVERY Lectures and tutorial (SCL)
15. ASSESSMENT METHODS AND TYPES
Component %
Continuous Assessment 40%
Final examination 60%
Total 100%
16. CONTENT OUTLINE OF THE COURSE/MODULE AND SLT PER TOPIC
TOPIC Lecture Tutorial Test/Quiz/Exam Assignment Assessment(Library Search) Self-study Total
Partnership 2 2 3 7
Basic Period 2 2 3 7
Corporate Taxation 4 2 6 12
Capital Allowances 4 4 6 14
Invesment Incentives 4 2 6 12
Real Property Gains Tax 4 2 6 12
Witholding  Tax and Double Taxation Agreement 2 2 3 7
Estate Under  Administration 2 2 3 7
Good and Service Tax 4 2 6 12
Continuous Test/Quiz Assessment 2 2  2  10  6 18
Audit of Payroll Cycle 2 2  3  9 12
FINAL 3 9 12
TOTAL 28 20 5 10 15 42 120
17. REFERENCES Main reference:

1.   Kasipillai, J. (2013b). A Guide to Advanced Malaysian Taxation. Malaysia: McGraw Hill.

Additional references:

1.   Income Tax Act 1967 (with amendments) & Public Rulings.

2.   Yearly Budget commentary issued by MIA, CTIM and MICPA.

 

Mapping of the course/module to the Program Learning Outcomes

TOPIC Contact hours (week) Lesson Learning Outcome (Students are able to..) CLO KI Teaching & Learning Activities Assessment Tasks
1.   Partnership

 

4
  1. To discuss tax treatment on partnership.
LO1 C3
  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
2.   Basis period

 

4
  1. To identify the basis period for company in different condition
  2. To compute adjusted income for related year of assessments
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
3.   Corporate Taxation

 

2
  1.  To determine the taxation income, tax liability, exemption and relief
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
4.   Corporate Taxation

 

4
  1. Calculate company tax under SAS
LO1

LO2

LO7

C2

P2

LL2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
5.   Capital allowances

 

4
  1. To determine QBE to calculate IBA
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
6.   Capital allowances 4
  1. To determine QAE to calculate agriculture allowance and charges
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial

Mid-Sem

7.   Investment Incentives

 

2
  1. To explain investment tax allowance available for promoted activities and products
  2. To calculate tax exemption and chargeable income for pioneer companies
LO1

LO2

LO7

C2

P2

LL2

  • Lecture
  • Exercise
  • Discussion and Q&A
8.   Investment Incentives

 

4
  1. To explain re-investment tax allowance available for promoted activities and products
  2. To explain double deduction for promotion of export
LO1 C2
  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
9.   Real Property Gains Taxes (RPGT) for individual and company

 

2
  1. To explain chargeable assets for RPGT.
  2. To compute chargeable gain and allowable expenses.
LO1 C2
  • Lecture
  • Exercise
  • Discussion and Q&A
10. Real Property Gains Taxes (RPGT) for individual and company

 

4
  1. To explain exemption for RPGT.
  2. To compute RPGT.
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
11. Withholding Tax and Double Taxation Agreement

 

4
  1. To understand withholding tax & DTA.
  2. To calculate unilateral & bilateral relief.
LO1

LO2

C2

P2

  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
12. Estate under administration

 

4
  1. To compute tax for executor
LO2 P2
  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial
13. Goods and Services Tax (GST)

 

2
  1. To understand scope and charges of GST
LO1 C2
  • Lecture
  • Exercise
  • Discussion and Q&A
14. Goods and Services Tax (GST)

 

4
  1. To understand special schemes and rules and offences and penalties.
LO1 C2
  • Lecture
  • Exercise
  • Discussion and Q&A
Tutorial

Final Exam