With effect from YA 2010, the employment income of a resident individual who is a knowledge worker in Iskandar Malaysia, employed in qualifying activities, is taxed at 15%.
Whether Director’s fees would be given the tax rate of 15% flat, for all Malaysia tax resident company directors, too in the coming Budget 2013 and also, will individual tax rates be reduced by 2 – 3%?
Further, will corporate tax rate be reduced by 1 – 2% in the abovementioned Budget?
Wait and see the Malaysia Budget 2013 which will be tabled on 28 September, 2012.
好的愿景须具有:
1. 核心理念,和
2. 展望的未来
核心理念定义了组织恒久不变的特质。它包含了两个独特的要素:”核心价值”与”核心目的”。
展望的未来包含两个部分:”胆大包天的目标”以及”生动描绘公司达到胆大包天目标后的景象”。
设立愿景,需要确保它的完整性,最好盖括所有完整所必需的要素整合在一起。
— 柯林斯, 薄乐斯
Heavy penalties of a fine of up to RM5m or jail for up to five years or both will be imposed if the taxpayers are found committing any of the three specified tax offences under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, warned by the IRB Malaysia.
Creative Accounting
to fool around the accounting in order to overstate or understate net income with reasons to cause effect on.
Fraud
an intentional misrepresentation of a material point or issue on which a victim relies, and results in victim(s) suffering damages.
If cash incentive paid to staff and agents are regarded as entertainment expenses, its tax deductibility will immediately become questionable. That is the argument which the tax authority holds on to not allowing the said cash incentives as tax deductible.
In tax reporting, a wise businessman will not blindly follow so called expert advise but will ensure his tax benefits are not in vain in advance as to avoid unnecessary doubts raised during the tax audit. He knows well that only himself but no one, even the tax consultant, will pay the additional tax plus relevant penalty arising from the wrong treatment of income and expense items in his tax reporting.
(On the tax deductibility of Cash Incentives, one may like to make a reference to the latest case laws, NV Alliance Sdn Bhd v Ketua Pengarah Hasil Dalam Negeri, 2012.)
