Advanced Malaysian Taxation – Principles and Practice (18th edition, 2017) covering extensively on the advanced aspects of the taxation, highlighting the contentious issues involved. The practical application of the Act are illustrated through a total of 60 flowcharts and 340 examples, covering over a total of 61 topics. This edition is updated with Finance Act 2017, public rulings of IRB and also leading cases decided in 2016.
This is a must have reference for legal counsels, tax practitioners, auditors, commercial firms, students taking up professional exam and university students.
Taxation is a practical subject which is to be learned through a careful reading of the Income Tax Act 1967 (the Act), guided by the IRB public rulings and practices together with the Malaysian court case precedents. The Act is updated annually via the Budget Proposals, which are later gazetted as Finance Acts coupled with Amendment Acts that are usually complex in nature, wide in scope and meticulously crafted to govern the administrative aspects of tax implementation.
Advanced Malaysian Taxation – Principles and Practice provides a complete and practical guidance in comprehending not only the application but also the methodology and mechanism of the Act. It covers a total of 57 topics dealing with a wide spectrum of advanced taxation matters ranging from special organisations to specialised industries and contentious income tax issues. The author has, in some instances, proffered personal opinions for consideration and contemplation to help clarify these issues. Now running into its 19th edition, this book serves as an ever handy and reliable reference text for legal counsels, judges, tax practitioners, commercial firms, university students and students taking professional examinations.
The year 2018 saw the gazetting of the Finance (No.2) Act 2017, Income Tax (Amendment) Act 2017 and Labuan Business Activity Tax (Amendment), (Amendment)(No. 2) Act 2017, while in the year 2017, the IRB issued a total of 12 public rulings governing GST, REIT, withholding tax, professional indemnity insurance, tax incentives and appeal which have all been included in this edition for completeness.
There has also been a substantial increase in court cases in the recent years from 2014 to 2017 with notable judicial interpretations of the Act as judges made landmark decisions and set forth legal principles. It is foreseen that more tax appeals will be made in the coming years due to the vast complexity of and dynamic changes in the Act. Leading and important tax cases have been included in this edition, highlighting significant judicial decisions and legal principles.
Much time and effort have been expended in updating this 19th edition. The chapter on the role of Labuan as an international financial centre has been completely rewritten while other chapters have been amended and updated to reflect the new changes and developments in the taxation landscape.
The author has a passion in sharing his knowledge, understanding and skills in taxation and it is his earnest hope and prayer that his effort and contribution will help readers comprehend and grasp the complex subject matter.
The recent vast and rapid development in IT, particularly in smartphone technology, has severely impacted the publication of books and the printing industry. The generosity of the users in sharing information by taking snapshots of books has particularly affected the publication of professional books. The publication of past editions of this book too has suffered from such practices. It is hoped that readers would take cognizance of the role and livelihood of writers and acquire accordingly an original copy of the book. The support of professional firms is also urgently needed to ensure the continued publication of this book for the benefit of all concerned.
The law is stated as at 18 March 2018.