ISSUE 15
Budget
2014
(Changes in Tax)
-
pg16
Editorial Speech
04
Budget 2014 (Changes in Tax)
Its our pleasure to have you with us again as theLINK 15th issue is finally released
covering the latest topics and information on Budget 2014 for your reading pleasure 04 2014 ()
and information.
The Prime Minister of Malaysia, Dato' Sri Haji Mohammad Najib Bin Tun Haji Abdul
Razak has proposed Budget 2014 which include implementation of Goods and Services More Accountants Needed in
Tax (GST) in 2015. Meanwhile, Malaysia has suffered 15 consecutive years of deficit
Budgets but yet Budget 2014 is seen by many as an aggravation. Firstly, theLINK will 16 Today and Tomorrow
share on some hot topics include Personal Income Tax, Corporate Income Tax, Real -
Property Gains Tax (RPGT), which bring the largest impacts on taxpayers.
In accordance to information obtained, the government has proposed the GST and The Value of Audit
provided fundamental information and trainings for better understanding to eradicate
controversies among Malaysians. However, majority is still confused with the operating 20
process of GST and the GST act is yet to pass enactment in parliamentary meeting.
Therefore, in this issue we refrain from going in depth about the GST whilst waiting for
the official enactment from the Parliament. Know it, Understand it and
Although there are 16 months to go until the GST implementation, rumours have it that 24 Avoid It - Tax Penalties & Fines
the price hike for many products has already taken place. In conclusion, well organised
and good expenditure management are the essential practices to survive and sustain ; 20
against the impending changes that affect Malaysians in every aspect, be it personal,
corporate, investment, expenses, etc. Are you ready your personal or corporate budget
for 2014? What is the Monthly Company
33
Secretary Retainer Fees for?
?
15theLINK 2014 ?
20142015(GST) 33
37
15 AHL Event - Charity Visit
(RPGT)
38
38 AHL Event - FTMS Career Talk
16
39 AHL Event - IAFG 2013
2014
A member of ECOVIS International tax advisors accountants auditors lawyers in Argentina, Australia, Austria, Belarus, Belgium, Brazil, Bulgaria, China,
Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Great Britain, Hong Kong, Hungary, India, Indonesia, Ireland, Italy,
Japan, Republic of Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Republic of Macedonia, Malaysia, Malta, Mexico, Netherlands, Norway, Poland,
Portugal, Qatar, Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Taiwan, Tunisia, Turkey, Ukraine, Uruguay,
USA (associated partners) and Vietnam. Disclaimer
ECOVIS International is a Swiss association. Each Member Firm is an independent legal entity in its own country and is only liable for its own acts or
omissions, not those of any other entity. ECOVIS AHL is a Malaysia member firm of ECOVIS International. theLINK is published by ECOVIS AHL. The views expressed in this newsletter do not necessarily represent those of theLINK ECOVIS AHL ECOVIS AHL theLINK
ECOVIS AHL who disclaim all responsibilities and liabilities for the accuracy of any statement, opinion or advice appearing ECOVIS AHL
herein. All materials in this newsletter are copyright and written permission from the publisher is required for quotation in whole
or part or reproduction in any form or by any means.
BY Ang Heng Ann & Stephy Hong
Budget
Chargeable Tax Tax Tax Tax Tax Tax
Income Rate without Paid Rate without Paid
Rebate Rebate
RM % RM RM % RM RM RM %
0 0 0 0
1 5,000
0 *0 0 *0 - -
2 300 1 150
5,001 20,000
300 *0 150 *0 - -
6 900 5 750
20,001 35,000
1,200 *800 900 *500 300 37.5
2014
11 1,650 10 1,500
35,001 50,000
2,850 2,850 2,400 2,400 450 15.8
19 3,800 16 3,200
50,001 70,000
6,650 6,650 5,600 5,600 1,050 15.8
24 7,200 21 6,300
70,001 100,000
13,850 13,850 11,900 11,900 1,950 14.1
26 39,000 24 36,000
M
100,001 250,000
52,850 52,850 47,900 47,900 4,950 9.4
alaysias Prime Minister and Finance Minister, YAB Dato Sri Mohd Najib Tun 26 39,000 24.5 36,750
250,001 400,000
Haji Abdul Razak tabled the 2014 Budget proposals on 25 October 2013. The 91,850 91,850 84,650 84,650 7,200 7.8
theme of the 2014 Budget was Strengthening Economic Resilience, Accelerat- Exceeding 400,000 26 25
ing Transformation and Fulfilling Promises.
*after RM400 rebate
Of course, this year budget also being label as GST budget where the long awaited GST
finally being proposed and tabled in 2014 budget. Malaysia now joining the other 160
countries to implement value added tax which proven to be a transparent, effective and
fair tax system.
2. Corporate Tax
The following are some of the key proposed changes in tax in the 2014 Budget:-
Effective from Proposals
1. Personal Income Tax Income tax rate is reduced by 1% from 25% to 24%
YA 2016 Income tax rate for small and medium enterprises (SME) will be reduced by 1%
from 20% to 19%
Effective from Proposals
To further curb speculative activities which exert pressure on property prices, it is Investment Tax Allowance (ITA) of 60% on the quali-
proposed that RPGT rates on the disposal of properties and shares in real property fying expenditure incurred within a period of 5 years
companies be reviewed as follows: to be set off against 70% of statutory income for each
year of assessment
Proposed RPGT Rates
(effective from 1 January 2014) Sabah and Sarawak
PS with income tax exemption of 100% of statutory
Disposal Individuals
Individuals income for a period of 5 years; OR
(Citizens &
Companies (Non
Permanent
Citizens) ITA of 100% on the qualifying expenditure incurred
Residents)
within a period of 5 years to be set off against 100% of
Within 3 years 30% 30% 30% statutory income for each year of assessment
In the 4th year 20% 20% 30%
In the 5th year 15% 15% 30%
In the 6th and subsequent years 5% 0% 5%
Must obtaining FWA status from Talent Corporation 7. Goods and Services Tax (GST)
Malaysia Berhad To implement GST eective from 1 April 2015
Current sales tax (since year 1972) and service tax (since year 1975) will be
5.4 EXTENSION OF ACCELERATED CAPITAL ALLOWANCE ON abolished
INFORMATION TECHNOLOGY AND COMMUNICATION
EQUIPMENT GST rate is fixed at 6%, the lowest among ASEAN countries
The threshold for purpose of registration under GST is the annual sales value of
Effective from Proposals RM500,000
expenses on the purchase and installation of ICT Expenses for GST related training of employees in accounting and ICT be given
equipment and software be given Accelerated further deduction for year of assessment 2014 and 2015
YA 2014 YA2016
Capital Allowance (ACA) with an initial allowance of
20% and an annual allowance of 80%
(GST)
2014160
2014
1.
2013 RM8,000
RM2,000
1% 3%
2015
1 RM100,000RM400,000
26%24%24.5%25%
2015 1%26%
25%
2.
1%25%24%
2016
20%19%
3.
2015
1%2%
2
* RM400
5. /
5.1 45
2
(RM) (%) (RM) (%) (RM) (RM) (%)
201612 20144
0 0 0 0 31 5
1 30,000
0 0 - - 320161231
5 1,500 5 1,500
30,001 60,000
1,500 1,500 - -
10 4,000 10 4,000
60,001 100,000 Pioneer Status70%
5,500 5,500 - -
15 7,500 15 7,500 5
100,001 150,000
13,000 13,000 - -
20 20,000 18 18,000 Investment Tax Allowance,
150,001 250,000
33,000 31,000 2,000 6.1 60%70%5
22 55,000 21 52,500
250,001 500,000
88,000 83,500 4,500 5.1
24 60,000 23 57,500 Pioneer Status100%
500,001 750,000
148,000 141,000 7,000 4.7 5
750,000 25 24
Investment Tax Allowance,
100%100%5
5.4
2014 2016
20%80%
5.5
2015 RM5,000RM10,000
T
There is an average of 43,494 newly
formed companies each year as
There are many reasons for Year 2009 2010 2011 2012 2013
compared to only 1,002 registered
the increase in demand for new MIA members in the corre-
accountants in the world Total Companies 882,843 927,045 972,500 1,017,941 1,056,820
sponding period. This obviously
today. Business growth is provides the proof that there is a
cited as a key factor. Many econo- severe shortage of accountants in
mists from Asia Pacific region foresee Malaysia.
that the industrial growth especially
in China, India, etc. is the main trigger Take for instance, Australia has a
for greater demand of accountants population of approximately 28
notwithstanding the global million with an estimate 100,000
economic downturn. This shows accountants as compared to our
accountants are playing important country with a population size of 28
and strategic roles in the growth of plus million but with less than 30,000
the world. accountants. In Malaysia, profes-
sional accounting courses are offered
Other factors that lead to the need in many colleges and universities.
for more accountants could be the These higher educational institutions
trend of assimilation and standardi- have an important and urgent role to
sation of accounting and reporting play that is in promoting and attract-
standards and practices internation- ing more Malaysian youth to pursue
ally. Furthermore, as International accounting as a profession. The *Year 2013 Total Companies reported as at 31 Oct 2013 ( for 10 months only).
Financial Reporting Standards are interest to becoming an accountant
rapidly being updated, more could be cultivated through account-
accountants are needed to provide ing programmes and career
interpretation and streamlining for To conclusion, can the shortage of accountants in Malaysia be filled by year 2020? A question worth
guidance during academic educa-
organisation to fully comply to these pondering over. Attention and effort from various parts of the society are highly needed in this respect to
tion.
complex standards. attract more Malaysian youth to be accountants to fill the gap of 80,000 shortages by year 2020.
P16 More Accountants Needed in Today and Tomorrow More Accountants Needed in Today and Tomorrow P17
2020
2012
80,000
2008/2009 2009/2010 2010/2011 2011/2012 2012/2013
, MIA
2009 25,614 26,190 27,156 28,489 29,624
2013
MIA
43,494
MIA
1,002
,
, 28100,000
30,000
,
MIA-
(Johan Idris)
2020
2009 2010 2011 2012 2013
-
*201310
202080,000
, 2020
P18 - - P19
THE VALUE
BY Yong Hui Nee & Criss Chong
and Ahmad (2004); Lee Gloeck &
Palaniappan(2007))
1965
(a)
(b)
(a)
(b)
(GPPC)
(c)
(SWG)
(d)
(Finance Analyst)
(e)
(CFO)(Audit
(f)/
Committee Members)
P22 P23
BY Ang Heng Ann & Stephy Hong
and Avoid it
the tax return may result in the company being liable to the
following penalties for non-compliance:-
Penalty Rate
S
Submission within 12 months after the due date 20%
ince year 2001, Malaysia has implemented The company may revise the estimated tax payable Submission within 24 months after the due date 25%
self-assessment system for corporate taxpay- either upwards or downwards in the 6th month or 9th Submission within 36 months after the due date 30%
ers and other categories of taxpayers in year month of the relevant basis period. Submission later than 36 months after the due date 35%
2004. Under the self-assessment system, the
burden of declaring and computing the tax liability is 1.2. Payment of monthly tax instalments
transferred from the Tax Authority to the taxpayers. The 2.2. Late payment of tax under Section 103 of the ITA
As the estimate of tax payable for a Year of Assessment
implementation of the self-assessment system has Failure to remit the balance of tax payable (if any) within the
furnished to the Tax Authority it is payable in 12 equal
resulted in changes to the tax legislation especially on the stipulated due date will result in a 10% penalty being imposed
monthly instalments and each instalment must be
tax compliance procedures and penalty provisions. on the outstanding amount. Where any tax remains unpaid
remitted not later than the 10th day of each month.
after 60 days from the due date, a further 5% penalty on the
We would like to bring your attention to the development total amount due will be payable. All the penalties are to be
Where any instalment of tax due and payable has not
on the penalty provisions which occurred in these few self-assessed and paid to the Tax Authority.
been paid by the due date, then without any further
years which are applicable to the corporate taxpayers. notice being served, the amount unpaid shall be
One of the tax planning strategies which is to avoid costly increased by a sum equal to 10% of the amount 2.3. Amendment of tax return
penalties, therefore it is important for you to know the unpaid under Section 107C(9) of the ITA. The Tax Effective from Year of Assessment 2009, companies are allowed
changes. Authority requires the company to self-compute and to make an amendment to their tax returns under Section 77B
remit this penalty to them. of the ITA. If the amendments made in respect of errors and
resulting in tax or additional tax, the penalty rates are as
1. Estimate of tax payable follows:-
1.3. Underestimation tax penalty
1.1. Notification of initial estimate of tax payable When the tax payable for a particular year of assess-
With effect from YA 2011, where no legal proceeding ment exceeds the initial or the revised estimate (either Revision timeframe Penalty Rate
taken and no direction is issued by the Director 6th month or 9th month, if a revision is submitted) by Within 60 days from the due date for furnishing
10%
General; if a company failed to submit its estimate of an amount exceeding 30% of the final tax payable the tax return
tax payable for a year of assessment and there is a tax amount, the difference will be subjected to a penalty More than 60 days but not later than 6 months
15.5%
payable by the company for that year of assessment, of 10% under Section 107C(10) of the ITA. from the due date of furnishing the tax return
such amount of tax payable will be subjected to a
penalty of 10% for non-compliance.
P24 Know it, Understand it and Avoid It - Tax Penalties & Fines Know it, Understand it and Avoid It - Tax Penalties & Fines P25
3. Tax Audit
3.1. Penalties for omission/non-disclosure
Due to self-assessment system, the Tax Authority has also introduced a new
penalty regime for non- disclosure and omission of information that affects a 4. Withholding tax
taxpayers tax liability. The penalty regime is summarised as follows:
Withholding tax will have to be paid to the Tax Authority if a company made
the following payments to non-resident under the ITA:-
Voluntary disclosure before Amendment of tax return within
selection for audit 60 days from the due date for 10%
furnishing the return form Payment Type Withholding
Income Tax Act 1967
More than 60 days but less than 6 Tax Rate
months from the due date for 15.5% Section 107A (1) (a) &
Contract Payment 10%, 3%
furnishing the return form 107A (1) (b)
> 6 months to 1 year 20% Interest Section 109 15%
> 1 year to 3 years 25% Royalty Section 109 10%
3 years and above 30% Special classes of income: Technical fees,
payment for services, rent/payment for use Section 109B 10%
Voluntary disclosure after
the case is selected for audit 35% of moveable property
but before audit commences Interest (except exampt interest) paid by Section 109C 5%
approved financial institutions
300% or 100% of tax under-
Non-disclosure (discovery Income under Section 4(f) ITA 1967 Section 109F 10%
charged (but in practice
during audit) Source: Inland Revenue Board of Malaysia
45% for 1st offence)
Such withholding taxes are due for payment to the Tax Authority within 30 days
Repeated offences Additional 10% for each
from the date of crediting / payment whichever is earlier. In the event of a late
repeated offence on top of
payment, penalties of 10% should apply on the unpaid withholding tax and that
the penalty rate mentioned
amount shall be a debt due and payable to the Tax Authority.
above but not exceeding
100%
Failure to comply with the above withholding tax provisions will result in the
following:-
1. The whole expense would be disallowed as a tax deduction to the company
3.2. Penalty for not providing reasonable facilities and assistance to Tax Authority pursuant to Section 39(1)(i) and 39(1)(j) of the ITA; and
Pursuant to Public Ruling No.7/2000, failure by a taxpayer to provide reasonable
facilities and assistance to the Tax Authority when conducting an audit is an 2. The costs incurred for installation or operation of plant and machinery would be
offence and upon conviction, the taxpayer may be liable to a fine of between excluded as qualifying capital expenditure for the purpose of capital allowance
RM1,000 to RM10,000 or face imprisonment for a term not exceeding 1 year or claims pursuant to Paragraph 2D of Schedule 3 of the ITA.
both.
With effect from YA 2011, in addition to the above late payment penalty, the Direc-
3.3. Failure to keep sufficient records tor General of Inland Revenue is empowered to impose a penalty for incorrect
Section 82 and 82A of the ITA requires every person to keep and retain sufficient returns under Section 113(2) ITA if tax deductions on such expenses are claimed
records when carrying on a business in order to enable the income or loss from the and the withholding tax and penalty are not paid by the due date for submission
business to be readily ascertained. of the tax return that relates to such expenses.
Failure to keep sufficient records is an offence under section 119A of the ITA. The
company or persons responsible, upon conviction will be liable to a fine of
between RM200 to RM2,000 or face imprisonment for a term not exceeding 6
months or both.
P26 Know it, Understand it and Avoid It - Tax Penalties & Fines Know it, Understand it and Avoid It - Tax Penalties & Fines P27
5. Return by employer and Statement of
Documentation should be prepared contemporaneously
Remuneration to the Employee that is, taxpayers need to ensure that transfer pricing
A company in the absence of reasonable excuse fails documentation is prepared when developing or imple-
to submit the Return by Employer (Form E) and State- menting a transaction with associated person. Where
ment of Remuneration (Form EA) to the employee, there are material changes, the transfer pricing documen-
shall be guilty of an offence and upon conviction, be tation should be updated prior to the due date for furnish-
liable to a fine ranging from RM 200 to RM 2,000 or to ing a return for that year of assessment.
imprisonment for a term not exceeding 6 months or
both under Section 120(1)(b) of the ITA. There is no requirement to submit the documentation but
it must be readily available upon request by the Tax
Authority. When the Tax Authority requests a taxpayers
6. Duty to furnish particulars of payment transfer pricing documentation, documentation should
made to an agent, dealer and distributor be made available to the Tax Authority within 30 days from
the date of request.
Pursuant to Section 83A of the ITA, a company without
any reasonable excuse fails to furnish the Statement of
Based on the TPG revised in July 2012, a lower penalty rate
Monetary and Non-Monetory Incentive Payment
of 25% will apply where contemporaneous transfer pricing
exceeds RM 5,000 (from calendar year 2012 onwards)
documentation is prepared. However, based on the Trans-
to An Agent, Dealer or Distributor (Form CP58) shall be
fer Pricing Audit Framework dated 1 April 2013 issued by
guilty of an offence and upon conviction, be liable to a
the Tax Authority, a concessionary penalty rate may be
fine between RM 200 to RM 2,000 or to imprisonment
imposed in a case where the taxpayer makes a voluntary
for a term not exceeding 6 months or both. 2001 1967(ITA)107C(9)
disclosure. In addition, if a taxpayer prepared a compre-
2004
hensive, good quality, contemporaneous transfer pricing
10%
documentation in accordance with existing regulations,
7. Transfer Pricing Documentation there will be penalty rate of zero percent.
Both the Income Tax (Transfer Pricing) Rules 2012 and
Transfer Pricing Guidelines 2012 (TPG) revised in July In view of the above, the availability of a contemporane- 1.3.
2012 require a person who enters into a controlled ous transfer pricing documentation will assist taxpayers to
transaction shall prepare a contemporaneous transfer appeal for a lower penalty rate. ITA107C(10)
pricing documentation. The revised TPG Part VII, 69
paragraph 25 provides details on Transfer Pricing 30%10%
Documentation including a list of information Conclusion
required. In view of the hefty penalties on various offences, each
taxpayer must fully aware of those penalties else it may
Based on TPG, controlled transaction referring to 1. 2.
become one of your unexpected financial burden to be
transaction for acquisition or supply of property or settled and affect the financial result of your company. ITA77A
1.1.
services between 7
2011 -
(a) persons one of whom has control over the other;
(b) individuals who are relatives of each other; or 10% 2.1. /
(c) persons both of whom are controlled by some (112
other person. 69
a
- RM200RM2,000
- 6;
1.2. -
12
Representative 10
P28 Know it, Understand it and Avoid It - Tax Penalties & Fines ; P29
b3 2.2. 103
3.3.
2011101
- 10%605% ITA8282A
2.3.
12 20% ITA119A
ITA77B2009
24 25% RM200RM2,000 6
36
30%
36 35%
60 10% 4.
606 15.5%
1967
606
15.5%
> 61 20%
> 13 25%
3 30%
35%
300%100%
/
(
45%)
10%
100%
3.2.
No.7/2000
RM1,000RM10,0001
P30 ; ; P31
BY Fong Wai Mun & May Teh
30 7.
20122012
10 TPG20127
TPGVII25
1. ITA39(1)(i)39(1)(j)
; TPG
2. ITA32D a)
b)
c)
2011
113(2) -
5.
ITA120(1)(b)
30
What is the
Monthly
E
20127TPG
EA
25
RM200RM2,000,6,
201341
Company
(Transfer Pricing Audit Framework)
6.
ITA83A2012 0
RM5,000
CP58
RM200
RM2,000,6,
Secretary
Retainer
Fees for?
P32 ; What is the Monthly Company Secretary Retainer Fees for? P33
A
company may employ a full time secretary some of the above Registers, or in respect of
or alternatively, use the secretarial services certain specific provisions of the Act.
provided by a secretarial firm. The retainer
fee charge by company secretarial firm In certain cases, the submission of certain returns
varies from one secretarial firm to another. The fees may be directed by the Board of Directors; such
directive may be required to be supported by
charged are to fulfill the following requirements and
such other documents as we shall deem neces-
functions and duties provided by the company secre- sary, and certain returns may require the signa-
tary: ture of the Directors.
1. According to Companies Acts 1965 Section 139(1) 3. To permit the inspection of the above statutory
each and every Sdn Bhd (private limited company) books by members (except the Minute Book of
has to have at least one qualified company secre- Directors Meetings) and the public (except the
tary. Thus the monthly retainer fee is for the Minute Books) and to furnish extracts of time in
appointment of the company secretary. accordance with the Act.
2. The retainer fee serves as consultancy fee when 4. To be present at clients registered office himself
advising clients on secretarial related issues and or his representatives during office hours.
also inclusive of the fee for using company secre-
tary office address as registered office. 5. To receive notices, on behalf of clients company,
which are delivered to its Registered Office.
3. It also inclusive of the fee for updating of the
company statutory record required by the Compa- 6. Under the directive of clients Board, to issue
nies Act 1965 with the Companies Commission of notices for Board and General Meetings, and
Malaysia from time to time. For example register of preparing minutes thereof; to prepare resolu-
?
members, register of directors, manager and secre- tions in writing.
taries, register of charges, etc.
7. To conduct correspondence with members with
The function and duties of Company Secretary in Malay- regard to share capital matters.
sia are clearly defined in Secretary Association with their
licenses are also governed and regulated by the 8. To take charge of clients Common Seal which
Company Commission of Malaysia. may only be used with specific authority of the
Board by way of a resolution.
?
Secretary certifying documents for certain matters such as
The duties of a Company Secretary as required by the banking matters etc.
Companies Act 1965 are generally as follows:-
Importantly, the above duties are imposed by the Act. In
1. The maintenance and proper safekeeping of the:- the event of default, the Act imposes penalty, in most
cases, upon the officers of the company (officers
Register of Members includes directors and secretaries); in most instances,
Register of Directors, Secretaries and Managers the penalty will be by way of a fine. Such fine will be for
Register of Directors Shareholdings clients account when the default arises from clients
Register of Substantial Shareholdings Directors who failed to forward the relevant information
or documents to the Secretary in good time, or when
Register of Charges
the Secretary is not responsible for such default.
Register of Debenture holders, if any
Minute books of General and Directors Meetings
Proper maintenance of the companys statutory
books
Advisory Services by Company Secretarial
Company secretary provides general advisory services
2. Submission of returns, as required by the Act, to on company secretarial matters to ensure that all the
statutory records are properly maintained and complies
the SSM; such returns may be in respect of
with requirements under the Companies Act, 1965.
changes in particulars required to be made in
P34 What is the Monthly Company Secretary Retainer Fees for? ?? P35
3.
1. 1965139 (1)
()
4.
2.
5.
6.
3.
7.
8.
(Sdn. Bhd.)
(Suruhanjaya Syarikat Malaysia 9.
Charity Visit
(SSM))
2013
1.
Charity visit is an annual CSR (Corporate Social Responsi-
bility) event of Ecovis AHL. In 2013, volunteers from Ecovis
AHL paid a charitable visit to 5 different old folks home in
conjunction with moon cake festival, also known as
Mid-Autumn festival, an opportunity for us to celebrate
with the resident of the old folks homes this traditional
1965 Chinese festival. These volunteers from Ecovis AHL were
1965 divided into groups consisted of 57persons each with
tasks assigned to be completed that could earn reward as
added fun to the event. During arrangement process,
taking into considerations of various factors, 5 old folks
homes were selected as follow:
2. SSM
1. Charis Home
2. Tong Xin Le Ling Centre
3. Hang Fook Ji Ka
4. Wesley Home
5. Sanctuary Retiring Home
Groceries, foods and moon cakes were delivered as little
contribution to these homes as well as lunch preparation,
serving fruits and tea to residents, cleaning the place and
Tanglung decoration.
Basketball
Athletics
FTMS IAFG Game
career talk 2013
IAFG also known as Inter Accounting Firm Games which is
an annual sport event opened to accounting firms around
Collaboration between Ecovis AHL and FTMS College for Malaysia to take part in sports available where point
an Accounting Career Talk was held at FTMS KL Campus obtained from each sport participated are correlated to
in September 2013. Mr. Kris Chan, partner of Ecovis AHL win the IAFG Championship. Ecovis AHL and 17 other
was officially invited as a guest speaker during the talk, accounting firms took part in IAFG this year with a total of
sharing his experiences as an accountant for more than a 19 games to choose from.
decade in real life with over 100 accounting students. Mr.
Emmanuel, a lecturer for FTMS was the second speaker Work hard, play hard is the philosophy of Ecovis AHL.
sharing Practical Experience Requirement (PER), serve Beside the hard work, we promote work life balance and
very useful guidelines especially for students who are allow our staffs to release their stress. The enthusiasm
taking ACCA. Information and Interactive are 2 words best reflected from Ecovis AHL participants clearly showed a
describe the 2 hours seminar that ended with the balanced work life with sportsmanship and a basis to
exchanging of questions and answers. support our philosophy: Work hard, play hard.
P38 AHL Event - FTMS Career Talk AHL Event - IAFG 2013 P39
Receivership
AOB Approved Auditor ICAEW Authorised Training Employer ACCA Approved Employer Professional Development
ACCA Approved Employer Trainee Development, Gold Status