Introduction to Malaysian Taxation

According to the Oxford Dictionary, what is a "contribution levied"?

• A donation to charity

• A fine for breaking the law

• A tax imposed on persons, property or business

• A reward for good behavior

What is the primary objective of taxation?

• To discourage economic growth

• To increase private wealth

• To collect revenue for public services

• To reduce government responsibilities

The objective of taxation are:

• Collection of revenue

• Encourage economic growth

• Redistribution of Income

• To increase private wealth

Source of Revenue Law consist of:

• Family Law

• Statute Law

• Civil Law

• Inland Revenue Board

What does Section 3 of the ITA 1967 focus on?

• Tax rates

• Employment exercised in Malaysia

• Penalties for late tax payment

• Corporate tax rules

Where is the exemption for foreign income in Malaysia explained?

• Paragraph 28 of Schedule 16, ITA 1967

• Section 3, ITA 1967

• The Finance Act

• Tax Administration Guidelines

Which of the following is a Direct Tax?

• Entertainment Tax

• Import Duty

• Gaming Tax

• Stamp Duty

Real Property Gain Tax (RPGT) is categorized as:

• Indirect Tax

• Direct Tax

Which of the following NOT Indirect Tax

• Gaming Tax

• Entertainment Tax

• Sales & Services Tax

• Income Tax

Petroleum Income Tax is Direct Tax

• True

• False