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An income tax system is based on the willingness of taxpayers to pay their taxes voluntarily. This requires the tax agency to promote voluntary compliance through outreach and education programmes.
THE last 18 months have been rather long in many aspects but we do see some light at the end of the tunnel.
GAINS on sale of investments such as shares are generally not subject to any tax in Malaysia, other than gains on disposal of real property in the country or shares in a real property company where the Real Property Gains Tax is applicable at rates from 30% to 10% or 0%, depending on the ownership period and the profile of the seller.In Budget 2024, it was announced that the capital gains tax (CGT) would be introduced from March 1, on the sale of shares in unlisted Malaysian companies.
With two more weeks before Budget 2024 is unveiled, Datuk Seri Anwar Ibrahim should avoid repeating the same mistake made by former Prime Minister Datuk Seri Najib Razak.
THE debilitating financial impact and the countless loss of lives from the onslaught of the Covid-19 pandemic, coupled with the unforeseen floods and landslides that have caused widespread devastation, making 2021 the grimmest period for Malaysians since the turn of the millennium.
WITH the extended movement control order, Bank Negara’s announcement of the moratorium on repayment of loans is certainly a much welcomed move to alleviate the financial burden of the rakyat, small and medium-sized enterprises (SMEs) and corporates affected by the Covid-19 outbreak.
