ANNOUNCEMENT
The Malaysian Association of Company Secretaries (MACS) has launched a Special Scheme on 24th March, 2007, called the MACS Tax Administrators Scheme, with the objective of registering, maintaining and grading of members of the Association who practise/undertake/provide taxation (direct or indirect) services to the public.
The Association has been recognized by the Treasury of the Ministry of Finance Malaysia on 21st February, 2007 for members of MACS who hold a law degree (di peringkat ijazah pertama) from a public or private university recognized by the Government and with not less than 5 years’ practical experience in private or public sector relating to taxation, is eligible to apply for a Tax Agent Licence under Section 153(3) ITA, 1967.
RULES AND REGULATIONS FOR MACS TAX ADMINISTRATORS SCHEME
Members of the Association who practise/undertake/provide taxation (direct or indirect) services to the public may join the MACS Tax Administrators Scheme.
In order to register with the MACS Tax Administrators Scheme, you must:-
(1) Hold a valid Section 153 (ITA) Tax Licence issued by the Treasury of Malaysia or be the holder of any PSD recognized Degrees/Professional Qualifications for the purpose of meeting the requirements of Section 153 (ITA) Tax Licensing;
(2) Provide written evidence that you have had not less than five (5) years of taxation experience in practice/employment in Malaysia; and
Upon registration with the Scheme, you must:-
(3) Agree to maintain an adequate level of Professional Indemnity Insurance cover as determined by the Association;
(4) Agree to undertake a minimum of thirty (30) CPD Hours of topics of taxation each year; and
(5) Agree to abide by the Association’s Guidelines and Code of Ethics.
The Taxation Practice Committee of the Association may require an applicant before joining the MACS Tax Administrators Scheme to undergo such training courses programme and interviews as the Committee may determine.
