Relevance of accounting in taxation

Relevance of accounting in taxation

THERE is a basic misconception that taxation is based on financial accounts because tax computations are prepared based on the underlying figures provided. Let’s make it clear that the computation of income tax is based entirely on the Income Tax Act 1967 (ITA). Many...
Four more days to seize SVDP opportunity

Four more days to seize SVDP opportunity

THE Self Voluntary Declaration Programme (SVDP) by the Inland Revenue Board (IRB) and the Royal Malaysian Customs Department (RMCD) is an amnesty programme that allows taxpayers to come clean and declare either undeclared or underdeclared income without any additional...