Tax issues a review and discussion of tax policy

• Main Author: Subramanian, Arjunan (Author)
• Format: Book
• Language: English
• Published: Petaling Jaya Pelanduk Publications 1988
• Subjects: Taxation > Malaysia; Malaysia > Fiscal policy
• Online Access: Click Here to View Status and Holdings.

 Taxation is not an end in itself. It is only a means to an end. Taxa-tion is a fiscal tool for economic development and tax policy, therefore, is an important subject. Most developing countries face very important issues in tax policy. Malaysia is no exception. Tax reform is always a continuing exercise. This is so primarily because the economic environ-ment changes and tax policy must be changed to meet new demands and also take up positions aimed at new directions in economic development. Thus, tax policy is never decided in a vacuum. Malaysia itself is at a cross-road: there is an urgent need to drastically drop the corporate tax rate so as to act as a catalyst for economic recovery. There has been a noticeable change in the tax policy over the last two years, that is, there has been a shift from direct taxation to indirect taxation. The question now Dosed is. whether the Government would drop the corporate tax rate and to compensate such loss introduce value added tax (VAT). The points made in this bock are not meant to be exhaustive. It is intended only to increase an awareness among the general public of the significance of the various aspects of the tax system and how we could modify the system to sustain the economic recovery of 1988. The articles in this book are written by Dr A. Subramaniam, tax director of HRM (Tax Services) Sdn Bhd. He was formerly with the Inland Revenue Department for 20 years. He is the first person in Malaysia to obtain a PhD from the Faculty of Law, University of Malaya in 1980, specialising in revenue law. He also holds a certificate in legal practice (Malaya) (1985) in criminal and civil procedures, tort and contract, law of evidence, profession practice including conveyancing and family law.