Advanced Malaysian Taxation – Principles and Practice (18 th edition, 2017) covers a wide spectrum of advanced taxation matters and provides practical guidance in understanding the application of the Income Tax Act together with the periodic IRB public rulings, annual budget proposals, Finance Acts, judicial interpretation and court case precedents.
Contentious issues are carefully examined and explained. Three new chapters have been added and two others completely rewritten. Furthermore, this 18 th edition keeps tax practitioners updated and abreast on the latest changes and developments in the taxation landscape. It covers a total of 61 topics with 60 flowcharts and 340 examples being provided. It incorporates the Finance Act 2017, public rulings made by the Inland Revenue Board (IRB) in 2016 and leading tax cases decided by the courts in the same year.
Topics covered include:
Business receipt and deduction
Real property company
Transfer pricing and advance ruling
Tax investigation and tax audit
Investment holding company
Trust, settlement and executor
Tax planning and restructuring
Limited liability partnership (LLP)
Double taxation agreement
This is a must-have, ever handy and reliable reference text for tax practitioners who have the best interests of their clients at heart.
Taxation is a practical subject which has to be learned through the reading of the Income Tax Act 1967 (the Act), guided by the IRB public rulings together with the Malaysian court case precedents. The Act is updated annually via the Budget Proposals, which are later gazetted as Finance Acts that are complex in nature, wide in scope and meticulously crafted.
Advanced Malaysian Taxation – Principles and Practice provides practical guidance in comprehending not only the application but also the methodology and mechanism of the Act. It covers a total of 61 topics dealing with a wide spectrum of advanced taxation matters. Contentious issues are carefully examined and wherever appropriate, personal opinion is preferred. Now running into its 18 th edition, the book serves as an ever handy and reliable reference text for tax practitioners.
The year 2017 saw the gazetting of the Finance Act 2017 while in the year 2016, the IRB issued a total of 12 public rulings, covering tax incentives, business tax deductions and tax administration compliance, which have all been included in this edition for completeness.
There has also been a substantial increase in court cases in the recent years 2014 to 2016, setting up legal principles together with notable judicial interpretation of the Act. 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 tax cases are included in this edition, highlighting these judicial principles.
It is noted that the High Courts have, in many instances, overruled the decisions of the Special Tax Commissioners while the Court of Appeal has, in some instances, overturned the High Courts’ decisions. This illustrated the complexity of the subject matter and the inherent difficulties involved when interpreting and digesting the vast development and changes brought about by the new legislations. Only through consistent updates that help them keep abreast with the new challenges and developments will tax practitioners be able to serve and protect their clients’ interests.
Much time and effort have been expended in updating this 18 th edition. Three new chapters have been added while the chapters on Charitable Institutions and Listed Investment Holding Companies have been completely rewritten. All the other chapters have also been updated to reflect the new changes and developments in the taxation landscape. It is the author’s earnest prayer that tax practitioners and students of the accounting profession acquire an original copy of the book in order to sustain the continued publication of this work. The sharing of the author’s skills and knowledge is only made possible through the understanding and adequate support of the readers.