Pop Kuiz PPK Advance Taxation

Which of the following is NOT a type of tax relief available for individuals in Malaysia?

• EPF/CPF contributions
• Life insurance premiums
• Child education
• Petrol prices

What is the tax residency requirement for individuals to be considered tax residents in Malaysia?

• 182 days

• 365 days

• 90 days

• 120 days

Which type of tax is imposed on the sales and provision of taxable goods and services in Malaysia?

• Income Tax
• Property Tax
• Goods & Services Tax (GST)
• Sales & Services Tax (SST)

What is the tax year in Malaysia?

• April 1st to March 31st
• June 1st to May 31st
• January 1st to December 31st
• October 1st to September 30th

Malaysia has signed Double Taxation Agreements (DTAs) with numerous countries to

• Avoid double taxation on income
• Increase tax rates
• Restrict foreign investments
• Simplify tax reporting

What is the tax rate for Labuan Business Activity Tax (LBAT)?

• 5%
• 10%
• 15%
• 3%

Which agency is responsible for regulating Labuan entities and enforcing Labuan Business Activity Tax (LBAT) compliance

• Ministry of Finance
• Labuan Financial Services Authority (Labuan FSA)
• Inland Revenue Board of Malaysia (IRBM)
• Central Bank of Malaysia

RPGT is imposed on gains derived from the disposal

• Stocks and bonds
• Personal belongings
• Real property or shares in real property companies
• Foreign currency exchange

Which type of income receipt is generally subject to income tax?

• Capital receipts
• Exempted Receipt
• Gift Receipt
• Income Receipt

What is the penalty for late filing of tax returns in Malaysia?

• 5% of the tax amount owed
• 10% of the tax amount owed
• 15% of the tax amount owed
• 20% of the tax amount owed