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Tax Planning for Businesses in Malaysia

Richard Thornton

Book MYR110.00 (No SST)
eBook MYR110.00 (No SST)

Businesses in Malaysia have seen a steady tightening of the rules enforcing selfassessment such as the refusal of a tax deduction for an expense where information is not provided within the time allowed; and the denial of the right to appeal against a deemed assessment unless the taxpayer’s grievance is due to his deliberate non-compliance with a public ruling or a practice of the Inland Revenue Board generally prevailing at the time. Also, new laws are made every year and existing laws get reinterpreted through appeal decisions and rulings, presenting tax practitioners and advisers with a constant challenge to keep up to date. These and other significant changes are explained in this book.

 More importantly, Tax Planning for Businesses in Malaysia aims to help you to plan strategically and skilfully in order to reduce the amount of tax paid by your company, and be prepared to solve any tax planning problem, whilst still keeping within the law. This book will explain how you can take advantage of government incentives and tax regulations to better position your company when tax season arrives.

Key features:
• “Tax planning tips” are provided at the end of every chapter. These are practical and easy-to-do tips that may just help you save on your taxes.
• Concise yet comprehensive commentaries, accompanied by numerous examples to illustrate concepts and enhance understanding.
• Appendices comprise tax rates for residents; income tax privileges and requirements for small companies; and reproductions of more relevant public rulings and tax frameworks that every business should be aware of. A brief Author’s Note is included before each public ruling and tax framework, explaining the importance and effect of the public ruling/tax framework. 

Contents includes:
1. The Business Operator
2. Starting or Discontinuing a Business
3. Business Income
4. Special Kinds of Income or Receipt
5. Tax Deductions from Income
6. Incentives by Way of Double Deduction/Extra Deduction
7. Capital Allowances
8. Business Losses and Loss Relief
9. Tax Incentives by Way of Exemption of Income
10. Tax Compliance and Tax Payments
11. Withholding Tax
12. An Overview of Goods and Services Tax

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