Training to Be Tax Professional at UNIRAZAK
Content
Training to be a tax professional at Universiti Tun Abdul Razak [Bachelor of Taxation (Hons.)]
The demand for tax professionals has been steadily increasing in Malaysia, for reasons such as: i) With the economic development of Malaysia and the continued expansion of economic development, “taxes” (both direct tax and indirect tax) have become a factor to be considered before investment decisions are made. ii) With the New Economic Expansion policy adopted by the Government, domestic and direct foreign investments are both expected to increase. iii) Taxpayers, under the self assessment system, may lack the technical skills required to comply with the various tax legislations, tax regulations and Public Rulings issued by the Inland Revenue Board. This factor of “self assessment” and the penalties that ensue for non-compliance has meant the need for competent tax professionals iv) The expatriate professionals resident in Malaysia (and non-resident) would require the assistance of tax professionals. v) Malaysian companies have also ventured overseas for investment purposes and this has created a demand for tax professionals.
The demand for the required number of tax professionals has also been increasing on account of the pressure arising from the following:i) Many industrial, commercial and banking institutions have established their own tax divisions to comply with tax compliance, i.e. submission of tax returns and to liaise with tax lawyers and tax professionals in accounting firms. ii) There are no less than 20-30 tax lawyers who either mainly deal with tax litigation in the courts, offer written opinions on tax issues and partly have a tax practice. iii) The main body of tax professionals in Malaysia are from the accounting firms both large and small. Information derived from the official web site of the Inland Revenue Board Malaysia reveal that there are approx. 2000 approved tax professionals, which includes tax directors, approved auditors, tax managers and tax consultants. However the figure from the larger firms reveal that there are only about 100 actual Licence Holders, known as approved tax agents under Section 153 of the Income Tax Act 1967.
iv) Institutions of higher learning also have a taxation course as one of their subjects and this has led to a demand for tax lecturers, and v) Sole proprietors i.e. tax agents operating their own tax practice.
UniRazak’s Bachelor of Taxation (Hons.)
Universiti Tun Abdul Razak (UniRazak), having made a study of this need through their Bank Rakyat School of Business and Entrepreneurship (BRSBE), has embarked on the above course which is a specialized degree programme not offered by any other university in Malaysia or for that matter in this part of the world. This professional course is entirely new and in terms of the course content and depth is distinguishable from other degree courses which offer taxation as only one of the subjects. UniRazak’s Bachelor of Taxation (Hons.) comprises of lectures both in direct taxation and indirect taxation. The programme structure includes, among other subjects, Business Law, Financial Accounting and related subjects, Introduction to Taxation, Sales Tax & Service Tax, Tax Policy, Revenue Law, Tax Audit and Tax Investigation in Malaysia, Business Ethics and Values, Capital Allowances, Investment Tax Incentives, Tax Administration, Double Taxation Policy and Agreements, Tax Planning, International Taxation and Stamp Duty. Furthermore competence in the taxation elements of commercial law is extremely useful; also the law of evidence is another area that needs to be understood particularly if one needs to litigate tax issues before the courts. Approved tax agents can represent their clients at the Special Commissioners of Income Tax. In summary, the taxation industry has a noticeable shortfall of qualified professionals and demand is expected to grow. For those looking for a rich and rewarding career, it would be wise to take a look at becoming a tax professional. For those who aspire to become tax professionals, UniRazak’s exclusive and innovative Bachelor of Taxation (Hons.) is recommended to be the first option. Just some of the career possibilities are in tax departments in industries, accounting firms, and institutions of higher learning. Furthermore, as a tax agent one can operate one’s own tax practice as a corporate Tax Specialist, Tax Consultant, or do compliance work as a sole proprietor. The qualifications for the intake are as follows: a) 3-year Programme * Pass in STPM/ ‘A’ Level with 3 principals; or * Pass in Matriculation, Foundation or Pre-university; or
* MQA recognized Diploma with CGPA minimum of 2.75; or * Equivalent qualification which is recognized by the Malaysian Government
b) 4-year Programme * Pass in SPM/SPMV/ ‘O’ Level with 5 credits or other equivalent qualifications. English Proficiency Requirements International Students: TOEFL 450 or IELTS Band 4 (students without TOEFL and IELTS are required to complete and pass an Intensive English Programme offered by the University) * The validity period for TOEFL and IELTS is two (2) years from the date of the award.
For further enquiries regarding this programme or other UniRazak programmes, please contact +603 7627 7000 or email [email protected] or [email protected]
By: 1) Dr Arjunan Subramaniam 2) M.B. Gathani.
The demand for tax professionals has been steadily increasing in Malaysia, for reasons such as: i) With the economic development of Malaysia and the continued expansion of economic development, “taxes” (both direct tax and indirect tax) have become a factor to be considered before investment decisions are made. ii) With the New Economic Expansion policy adopted by the Government, domestic and direct foreign investments are both expected to increase. iii) Taxpayers, under the self assessment system, may lack the technical skills required to comply with the various tax legislations, tax regulations and Public Rulings issued by the Inland Revenue Board. This factor of “self assessment” and the penalties that ensue for non-compliance has meant the need for competent tax professionals iv) The expatriate professionals resident in Malaysia (and non-resident) would require the assistance of tax professionals. v) Malaysian companies have also ventured overseas for investment purposes and this has created a demand for tax professionals.
The demand for the required number of tax professionals has also been increasing on account of the pressure arising from the following:i) Many industrial, commercial and banking institutions have established their own tax divisions to comply with tax compliance, i.e. submission of tax returns and to liaise with tax lawyers and tax professionals in accounting firms. ii) There are no less than 20-30 tax lawyers who either mainly deal with tax litigation in the courts, offer written opinions on tax issues and partly have a tax practice. iii) The main body of tax professionals in Malaysia are from the accounting firms both large and small. Information derived from the official web site of the Inland Revenue Board Malaysia reveal that there are approx. 2000 approved tax professionals, which includes tax directors, approved auditors, tax managers and tax consultants. However the figure from the larger firms reveal that there are only about 100 actual Licence Holders, known as approved tax agents under Section 153 of the Income Tax Act 1967.
iv) Institutions of higher learning also have a taxation course as one of their subjects and this has led to a demand for tax lecturers, and v) Sole proprietors i.e. tax agents operating their own tax practice.
UniRazak’s Bachelor of Taxation (Hons.)
Universiti Tun Abdul Razak (UniRazak), having made a study of this need through their Bank Rakyat School of Business and Entrepreneurship (BRSBE), has embarked on the above course which is a specialized degree programme not offered by any other university in Malaysia or for that matter in this part of the world. This professional course is entirely new and in terms of the course content and depth is distinguishable from other degree courses which offer taxation as only one of the subjects. UniRazak’s Bachelor of Taxation (Hons.) comprises of lectures both in direct taxation and indirect taxation. The programme structure includes, among other subjects, Business Law, Financial Accounting and related subjects, Introduction to Taxation, Sales Tax & Service Tax, Tax Policy, Revenue Law, Tax Audit and Tax Investigation in Malaysia, Business Ethics and Values, Capital Allowances, Investment Tax Incentives, Tax Administration, Double Taxation Policy and Agreements, Tax Planning, International Taxation and Stamp Duty. Furthermore competence in the taxation elements of commercial law is extremely useful; also the law of evidence is another area that needs to be understood particularly if one needs to litigate tax issues before the courts. Approved tax agents can represent their clients at the Special Commissioners of Income Tax. In summary, the taxation industry has a noticeable shortfall of qualified professionals and demand is expected to grow. For those looking for a rich and rewarding career, it would be wise to take a look at becoming a tax professional. For those who aspire to become tax professionals, UniRazak’s exclusive and innovative Bachelor of Taxation (Hons.) is recommended to be the first option. Just some of the career possibilities are in tax departments in industries, accounting firms, and institutions of higher learning. Furthermore, as a tax agent one can operate one’s own tax practice as a corporate Tax Specialist, Tax Consultant, or do compliance work as a sole proprietor. The qualifications for the intake are as follows: a) 3-year Programme * Pass in STPM/ ‘A’ Level with 3 principals; or * Pass in Matriculation, Foundation or Pre-university; or
* MQA recognized Diploma with CGPA minimum of 2.75; or * Equivalent qualification which is recognized by the Malaysian Government
b) 4-year Programme * Pass in SPM/SPMV/ ‘O’ Level with 5 credits or other equivalent qualifications. English Proficiency Requirements International Students: TOEFL 450 or IELTS Band 4 (students without TOEFL and IELTS are required to complete and pass an Intensive English Programme offered by the University) * The validity period for TOEFL and IELTS is two (2) years from the date of the award.
For further enquiries regarding this programme or other UniRazak programmes, please contact +603 7627 7000 or email [email protected] or [email protected]
By: 1) Dr Arjunan Subramaniam 2) M.B. Gathani.
