Malaysian Company Tax Practice - LexRead

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Malaysian Company Tax Practice

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Format : eBook
No of Pages : 674
Edition :4th Edition
Country :Malaysia
Published Date :2017
Compatible with : Desktop iOS Android
 

Book Description

This book addresses the law on company taxation including the  introduction of the single-tier system under section 110 of the Income Tax Act 1967 which is a significant change from the imputation system of company taxation.  Under the single-tier system, there is no tax imposed upon declaration and receipt of the dividends in hands of shareholders.  


This book covers the implication of the single tier system for companies. There are chapters relating to the scope of “income” and expenses allowable for income tax purposes under section 33(1) of the Income Tax Act 1967. Investment incentives under the Promotion of Investment Act 1986 is also covered in this book. The Promotion of Investment Act 1986 was enacted with a view to grant relief from income tax for the establishment and development of industrial. Agricultural, commercial enterprise and for the promotion of exports. The tax policy adopted to encourage rapid industrial development was to provide tax incentives to specific industries, and such incentives are confined to specifies promoted products and services. 


This book will be useful for tax practitioners, be they be accountants or lawyers. 
This book addresses the law on company taxation including the  introduction of the single-tier system under section 110 of the Income Tax Act 1967 which is a significant change from the imputation system of company taxation.  Under the single-tier system, there is no tax imposed upon declaration and receipt of the dividends in hands of shareholders.  


This book covers the implication of the single tier system for companies. There are chapters relating to the scope of “income” and expenses allowable for income tax purposes under section 33(1) of the Income Tax Act 1967. Investment incentives under the Promotion of Investment Act 1986 is also covered in this book. The Promotion of Investment Act 1986 was enacted with a view to grant relief from income tax for the establishment and development of industrial. Agricultural, commercial enterprise and for the promotion of exports. The tax policy adopted to encourage rapid industrial development was to provide tax incentives to specific industries, and such incentives are confined to specifies promoted products and services. 


This book will be useful for tax practitioners, be they be accountants or lawyers. 
This book addresses the law on company taxation including the  introduction of the single-tier system under section 110 of the Income Tax Act 1967 which is a significant change from the imputation system of company taxation.  Under the single-tier system, there is no tax imposed upon declaration and receipt of the dividends in hands of shareholders.  


This book covers the implication of the single tier system for companies. There are chapters relating to the scope of “income” and expenses allowable for income tax purposes under section 33(1) of the Income Tax Act 1967. Investment incentives under the Promotion of Investment Act 1986 is also covered in this book. The Promotion of Investment Act 1986 was enacted with a view to grant relief from income tax for the establishment and development of industrial. Agricultural, commercial enterprise and for the promotion of exports. The tax policy adopted to encourage rapid industrial development was to provide tax incentives to specific industries, and such incentives are confined to specifies promoted products and services. 


This book will be useful for tax practitioners, be they be accountants or lawyers.


Table of Contents


Table of Cases 
Table of Legislations 
Table of Subsidiary Legislations 
Table of Foreign Legislations 
Chapter 1 Administration of Company Taxes
Chapter 2 Malaysian Imputation System
Chapter 3 The Single-Tier System
Chapter 4 Derivation of Business Income
Chapter 5 Trading and Adventure in the Nature of Trade
Chapter 6 Gross Income from a Business
Chapter 7 Adjusted Income from a Business
Chapter 8 Income Tax Leasing Regulations 1986
Chapter 9 Controlled Companies
Chapter 10 Capital Allowances
Chapter 11 Taxation of Property Developers
Chapter 12 Withholding Taxes
Chapter 13 Computation of Total Income
Chapter 14 The Taxation of Insurance Companies
Chapter 15 Air and Sea Transport Undertaking
Chapter 16 Banking and Other Companies
Chapter 17 Tax Avoidance
Chapter 18 Tax Investigation
Chapter 19 Investment Incentives under the Promotion of Investment Act 1986
Chapter 20 Special Incentives under the Income Tax Act
Chapter 21 Transfer Pricing Aspects
Chapter 22 Returns & Assessments
Chapter 23 Collection & Recovery
Chapter 24 Appeals and the Special Commissioners of Income Tax
Chapter 25 Interest, Rent and Royalties
Chapter 26 Offence and Penalties
Index


About the Author(s)


Arjunan Subramaniam holds a Bachelor of Art (Hons.) degree from University of Malaya, Bachelor of Law (Hons.) degree and a Master of Laws degree from University of London. He is also Doctor of Philosophy (Malaya),a Fellow Member of Chartered Tax Institute of Malaysia and was Chairman of the Tax Practice Committee of Malaysian Institute of Accountants. He also holds a Certificate in Legal Practice(CLP).He joined Inland Revenue Department and was Assistant Director General when he left to be a Tax Director of an International Accounting Firm. Dr Arjunan has extensive experience in corporate tax planning, restructuring, tax investigation and formulating business plans and drafting of tax statutes and is still an active member. He also wrote several books on tax policies and taxation and was an Adjunct Professor at UUM (School of Accounting). Previously, he was an Adjunct Professor of Law at Northern Territory University, Darwin, Australia. He was also formerly an Adjunct Professor at University Tun Abdul Razak. Currently, he is an advocate and solicitor, and is a partner of Shanker& Arjunan