J. K. Tan & Co (AF002116)
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Audit Associate / Tax Associate
With the expansion of portfolio, we have vacancies for the below positions:
 - Audit Associate
 - Tax Asssociate

 - Junior executive with more than 2 years experience in audit firm
 - Students pursuing ACCA is encouraged to apply
 - Study leave are given for professional exam
 - Salary package is accompanied with qualification & experience
 - Immediate vacancies are available
 - Fresh graduate is encourage to apply.
 - Increment based on performance.
 - Annual company trip is given.

Text / what's application us at 6016-7189179
email complete resume to info@jktanco.com.my
The Secret of Using Company Form C Tax Return

Date: 30 January 2019 (Wed)

Target referral: Food manufacturer located at Senai, Gelang Patah, Pasir Gudang
Target audience: Owner, Director, Financial Controller, Accountants
Venue fee: RM50 (including buffet breakfast + chance to meet 70 business professional)
How to register: pm me at https://wasap.my/60167189179

You are cordially invited to the meeting of the Victory Chapter at Hotel Granada, located at 55, Jalan Indah 15/2 Taman Bukit Indah in Johor Bahru, on Wednesday, at 6:50 AM.

BNI is a business and professional networking organization whose primary purpose is to exchange qualified business referrals. What makes BNI unique is that it allows only one person per profession to join a chapter. Thus, once you've joined, none of your competitors can participate.

The Victory Chapter is currently looking for a person in your profession to whom they can refer business. I would like to personally invite you to a meeting so you can learn more about the organization and find out if you would be interested in generating a steady source of referral business for yourself.

Please let me know if you plan to attend and I will reserve a place for you! Remember to bring plenty of business cards to pass around as you will meet lots of local business professionals.


JK Tan
J. K. Tan & Co

Chapter venue location map URL:
SST SEMINAR - The Mechanism of Sales & Services Tax (SST) & Single Person Company
Sales & Services Tax ("SST") is effective from 1 September 2018. There are many confusion & myths of how to apply the SST correctly.
Are you subject to sales tax? 
What are the exemption available for sales tax registered manufacurer?
What is the scope of "management services & IT services" covered under service tax?
We are here to assist you with the seminar.

Also, the seminar is offer some idea of how single director company ("Sdn Bhd") work, requirements & directors responsibilities under the Companies Act 2016.

Use the following link to download
registration form
Tap the Tax Savings Solutions from GST to No GST on 1st June 2018 up to the Implementation of SST (Part I)
Tap the Tax Savings Solutions from GST to No GST on 1st June 2018 up to the Implementation of SST (Part I)
registration form, see link /data/cms/files/Tap the opportunities for tax savings_JK.pdf

Prime Minister said, ‘the Goods and Services Tax (GST) to be zero-rated from 1.6.2018, SST will take its place effective Sept 1’*.
This half-day seminar series is explain the treatment of  transitional issue from GST 6% to no GST, tap the opportunities for tax savings solutions,  possibility to get GST audit before deregistration.
Also, it will explore the possible SST. “We haven’t decided, but before this, SST was at 10%. *
This seminar also includes bonus topics of the latest Company Tax developments.
* (source: The Star 31/5/2018)

Happy Chinese New Year 2018
Dear Valued Customers,

Our firm will be closed from 15 Feb 2018 until 19 Feb 2018 during Chinese New Year 2018. Normal operation will be resumed on 20 Feb 2018.

Thank you.
Management of J.K.Tan & Co

HIRING - Audit Senior Associate, Tax Senior Associate
Due to Company expansion, we would like to seek qualified candidates to fill in the above positions at our Setia Tropika office.

Audit or Tax Senior Associate
-Salary or remuneration package is compensated with experiences, preferably audit or tax seniors that have 2-3 years experiences in SMP or mid-tier audit firm.
-Knowledge of AXP Audit Express is essential.
-Self-motivated, independent and good team player.
-Excellent analytical and problem solving skills.
-Proficient in written or spoken English and Chinese or Malay language.
-Good knowledge in Microsoft Word, Excel and Powerpoint.
-Technical ability of MPERS, and latest tax budgets/Public Rulings.

Account senior associate
For the account senior post, we invited candidates that age below 35 years old to grow together with the associated firm.

Interested candidates are invited to submit resume to info@jktanco.com.my 
Shortlisted candidates will be notified for an interview session.
Cyberjaya, November 26th - Inland Revenue Board of Malaysia (IRBM) would like to advise taxpayers to only seek services from legitimate and entiled tax agents in law to manage their tax matters.

Services provided by illegitimate tax agents could lead to inaccurate or unclear tax advice including:
- preparation of income tax return form which does not comply with the tax laws;
- illegitimate tax agents will not be responsible on taxpayers in the event of legal actions are taken against them on any offences or penalties imposed;
- illegitimate tax agents shall not represent taxpayers in audits or investigations conducted by LHDNM or in dispute resolutions before the Special Commissioners of Income Tax ("SCIT").

Taxpayers may check the list of legitimate tax agents and information such as the agent's name, firms/companies, address as well as tax agent's phone number and validity of approval by the Finance Minister at IRBM's official portal www.hasil.gov.my or the following URL http://www.hasil.gov.my/bt_goindex.php?negeri=10&abj=ALL&cariagen=tan+jin+kiat&bt_kump=5&bt_skum=4&bt_posi=1&Submit=Cari%2FSearch.
Malaysia Introduce 'Audit Exemption'
The Companies Commission of Malaysia (CCM) has released a directive setting out the category and criteria for audit exemption. The practice directive entitled Qualifying Criteria for Audit Exemption for Certain Categories of Private Companies revealed that dormant companies, zero revenue companies and threshold qualified companies would be eligible for audit exemption. The threshold qualifications are; not exceeding RM100,000, having assets not exceeding RM300,000 and having no more than 5 employees.

This applies to companies incorporated on or after 31 January 2017, for zero revenue companies it will apply for the annual financial period commencing on or after 1 January 2018 and for threshold qualified companies on or after 1 July 2018. The exemption from audit will be effective from 1 January 2018.

However, the company exempted from audit must submit the unaudited financial statement that complies with the approved accounting standards and the Malaysian Accounting Standard Board (MASB). The unaudited financial statement must also be circulated to the board members in accordance with the Companies Act 2016.
International Accounting Bulletin /data/cms/files/audit exemption.pdf
SSM Practice Directive /data/cms/files/Qualifying criteria for audit exemption.pdf

Call us today for more info on the above.
The Companies Commission of Malaysia (“SSM”) on 4/8/2017, issued Practice Directive No. 3/2017 entitled “Qualifying Criteria for Audit Exemption for Certain Categories of Private Companies”.
This Practice Directive is issued pursuant to Section 20C of the Companies Commission of Malaysia Act 2001 and Subsection 267(2) of the Companies Act 2016 (“CA 2016”). It sets out the qualifying criteria for private companies from having to appoint an auditor in a financial year i.e. audit exemption.

Practice Directive No. 3/2017 indicates that dormant companies, zero-revenue companies and threshold-qualified companies qualify for audit exemption and it shall take effect as follows:
(a) In the case of a dormant company,
• where the company is incorporated on or after 31 January 2017, the financial statements with annual periods commencing on or after 31 January 2017; and
• where the company is incorporated on or before 30 January 2017, the financial statements with annual periods commencing on or after 1 September 2017.

(b) In the case of zero-revenue companies, for financial statements with annual periods commencing on or after 1 January 2018.

(c) In the case of threshold-qualified companies, for financial statements with annual periods commencing on or after 1 July 2018.
We are in the view that this effort can release the compliance costs for domant & zero revenue companies. However, the directors can still opt for compilation of financial reports as what Singapore done. And for relevant authorities & apply bank loan purpose, get some review & perform compilation still be necessary for add value to the creditibility of financial reports.

Inland Revenue Board of Malaysia’s (LHDNM) letter dated 8 February 2017 to inform the following:-
· Pursuant to S.107C(7A) of the Income Tax Act (ITA) 1967, companies are compulsorily required to furnish the Form CP204 and Form CP204A via e-filing with effect from the year of assessment (YA) 2018.
· Paper Form CP204 and Form CP204A submitted by companies for YA 2018 onwards are CONSIDERED AS NOT RECEIVED for the purpose of S.107C(7A).
· Failure to comply with the said provisions of the law is an offence under S.120(1)(f) of the ITA 1967.
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