Thornton's Malaysian Tax Commentaries

• Main Author: Thornton, Richard (Author)
• Format: Book
• Language: English
• Published: Selangor, Malaysia Sweet & Maxwell Asia 2004
• Subjects: Income tax > Law and legislation > Malaysia; Taxation > Law and legislation > Malaysia
• Online Access: Click Here to View Status and Holdings.
• Item Description: Includes indexes
• Physical Description: xxv, 996 pages 24 cm
• ISBN: 983263122X

Thornton's Malaysian Tax Commentaries aims to contribute to the knowledge and understanding of Malaysian tax law by shining some light into the dark corners. It is intended as a helpful work of reference on the law of direct taxation in Malaysia. Considering that any tax practitioner or serious student needs to be well acquainted with the basic law, invaluable guidance is provided for the reader of this work by showing the way to what interests him where understanding and interpretation can be found. By giving comprehensive indexes, references and cross-references to definitions and amendments, as well as helpful footnotes on salient points, it is hoped that readers looking for something in particular, as well as those doing general studies and research, will be enlightened. Important principles laid down in judicial pronouncements have been referred to and explained to facilitate a clear understanding of important statutory provisions. This work makes available the full text of the law on income tax, real property gains tax, promotion of investments and the Labuan offshore business activity tax, including all the schedules and subsidiary legislation of current and general relevance. Within the covers of this work, the reader will be able to access an up to-date and comprehensive source of legislation on direct taxation in Malaysia, except for that on petroleum income tax which is only of interest to industry specialists. Self-assessment, which has applied to companies since 2001, is extended to individuals and all other taxpayers from 2004. This change, which was brought about by the Income Tax (Amendment) Act 2002, is fully covered in this work. Changes made to the law by the Finance Bill 2003 (which we have styled the Finance Act 2003 although it has not been gazetted at the time of writing) have also been incorporated into this work. A table of Budget proposals not yet legislated is also provided. For the convenience of readers who will still be settling their pre 2004 tax matters, the statutory provisions applicable as at year of assessment 2003 have also been inserted for the sake of completeness. This work is an invaluable repository of source materials on direct taxation in Malaysia and accompanying insightful commentaries that should not be missed by tax professionals and practitioners as well as those currently studying tax. Richard Thornton has extensive experience of Malaysian taxation. He provides tax consultancy services specialising in Malaysian and cross-border transactions and is an approved tax agent. As a member of the panel of examiners for the Association of Chartered Certified Accountants, he is Examiner for the Advanced Malaysian Taxation paper and Assessor for two other tax papers. A fellow of the English Institute of Chartered Accountants and a member of the English Institute of Taxation, he is also a chartered accountant member of the Malaysian Institute of Accountants and a fellow of the Malaysian Institute of Taxation.