A Government Program to Help You Get Interns with Double Tax Deduction

01Structured Internship Programme (SIP)

Overview:

SIP is designed for youths to have a real working experience through quality internships. Company is enjoying double deduction on expenses incurred by companies to practice SIP.

Key takeaway:

You will understand: -

1. Benefits of joining SIP

2. Conditions of SIP

2. How to apply for SIP

Summary of learning:

A) Benefits of joining SIP

1. Double tax deduction for monthly allowance paid

2. Double tax deduction on training expenses

- Expenditure incurred for students’ training

3. Double tax deduction on other relevant costs

- other allowances such as meal travelling and accommodation paid during internship

*Total expenses claim is limited to RM5,000 per student for each year assessment

B) Conditions of SIP

Interns

1. Malaysia Citizen

2. Degree, Diploma, Malaysia Skill Certificate Level 3 and above under TVET programmes (full time basic)

3. Complete internship before completion of the final semester

Company

1. Registered under Companies Commission of Malaysia (SSM)

2. Minimum 10 weeks of internship period

3. Minimum 500 per month for each of the interns

4. Internship framework that provides practical experience and specific knowledge of skills

C) How to apply for SIP

Before Hiring Intern

1. Register on : https://sip.talentcorp.com.my

2. Upload SSM report/Form 5 together with the internship framework to SIP portal

During internship programme

1. Update the information of interns hired to TalentCorp

2. TalentCorp will provide the letter of Endorsement (LOE)

Sources: https://sip.talentcorp.com.my/about.php