Introduction to Tax Residence

14937 words 60 pages
Chapter 1 introduction & tax residence
•Direct taxes – taxes paid directly to government (income tax , RPGT)
•Indirect taxes – taxes paid to government via 3rd party( sale,service)
•Income

tax –scope of charge( S3 of ITA) has been modified by ‘’tax exempted’’ Income tax shall be charged for each y/a upon income of any person accruing in or derived from MY or received in MY from outside MY
Income known as revalue gain( capital gain never go for inc tax
Person=individual , Co(chargeable person) partnership is not C.P
•2

type of chargeable person which are resident and non resident

Resident=individual , specialised industry Co and other Co
1.
Individual and other Co— MY derived subject to income tax
Foreign derived: if not remitted
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Value of item to be determined by
‘’ department of museums MY or national achieves’’ applied all
CP
S44(8) – any gift of money for provision of library facilities accessible by public or to public libraries , school library and higher education institution libraries ( Max 20000) applied all CP
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S44(9) – any gift of money or contribution in kinds for provision of facilities in public places for benefit of disabled persons . Value in kind determined by relevant local authority . Donation applies to individual only
S44(10) – any gift of money or cost of medical equipment to approved healthcare facility (max 20000) value of equipment certified by ministry of health . Applies to individual only
S44(11) –value of any gift of painting to national art gallery or state art gallery. Value of painting determined by national or state gallery . Applies to all CP

S44(11A) – company making zakat donation shall not exceed
2.5% of Co aggregate income
-- the Co is not an offshore Co
-- resident individual : get tax rebates on zakat


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1.

2.

S11(4B) – any gift of money or cost of contribution in kind for any sports activity approved by minister or to any sports body approved by commissioner of sport
S11(4C) – any gift of money or cost of contribution in kind for project of national interest approved by minister
Special tax rate for individual ( knowledge)

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